LOVE does not appear to be recession-proof. In figures released last month on Valentines Day, research firm Kantar Worldpanel revealed that the previous year’s Valentine’s gift buyers had moved away from purchasing relatively highly priced presents like flowers, clothes, cosmetics and books.
But the good news for c-store owners was that confectionery and alcohol gained ground. Sweets and chocolates accounted for more than 20% of all Valentines Day gift purchases in 2013, while alcohol made up 8% of spending. Overall, in 2013, Brits spent 20% less and bought 7% fewer romantic gifts than in the previous year.
Most love tokens cost £15 or less, although there was a slight increase in the number of presents worth more than £50 that were bought.
Men lost out however. They received cheaper gifts than women … and fewer too.