Over half of UK adults don’t expect to spend on Valentine’s Day - but is less Amore?

 

• Average spend on Valentine’s Day set to rise  12% on last year

• Romantic shoppers  log off and head for the high street

• Men expect to pay twice the price of love

• West Midlands considers itself to be the most romantic region

• Total of £458.7 million may be spent across the UK this year on Valentine's Day

Over half of UK adults (52%) don’t plan to buy a gift for their loved one this Valentine’s Day, according to a poll of more than 2,000 people conducted for PwC. Almost half (48%) are not even planning to buy a card.

For those who do decide to treat their partner to something, they are most likely to select small personal gifts such as handmade items (21%) even though more people hope to be wined and dined or whisked away, with 29% of people surveyed preferring a gift relating to travel or leisure.

The average amount people expect to spend on Valentine’s Day stands at £29.89, up from £26.69 last year. However, it does appear the price of love is higher for men, who say they expect to spend nearly twice as much as women (£39.70 vs. £20.42). From the UK national average spend figure, we've calculated that a total of £458.7 million could be spent on Valentine's Day this year.

Commenting on the Valentine’s Day survey results, Madeleine Thomson, retail and consumer leader at PwC, said:

“More than half of UK adults say they won't be loosening the purse strings to tug on the heartstrings this year. They don't plan to buy a Valentine's Day gift, and nearly half say they won't be buying a card.

“For Valentine’s Day purchases, consumers do still seem to prefer the high street experience to shopping online. Our survey reveals that 49% of people who plan to buy something for Valentine’s Day plan to do so in store, compared to 30% on laptop or desktop.”

The survey findings show that nearly half (49%) of UK adults consider themselves to be romantic, with 18-34 year olds scoring themselves highest (53%). Across the United Kingdom, it is people living in the West Midlands who believe they are the most romantic (56%). Only 43% of those in Scotland and the East of England consider themselves to be romantic.

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Notes to Editor:

About the survey:

This report is based on the results of an online survey conducted in January 2017 by Opinium, the results have been weighed to a nationally representative criteria.  

The online survey was completed by over 2,000 consumers across the United Kingdom aged 18 and over.

About PwC:

At PwC, our purpose is to build trust in society and solve important problems. We’re a network of firms in 157 countries with more than 223,000 people who are committed to delivering quality in assurance, advisory and tax services. Find out more and tell us what matters to you by visiting us at www.pwc.com.

PwC refers to the PwC network and/or one or more of its member firms, each of which is a separate legal entity. Please see www.pwc.com/structure for further details.

 

© 2017 PwC. All rights reserved

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For more information please contact Gill Carson on: e-mail: [email protected] or Mobile: 07837285466