High Street to see off digital threat this Valentine’s Day
Britain’s ailing High Streets are in line for a Valentine’s Day boost after a new survey compiled by Gfk found that our love affair with all things digital doesn’t as yet stretch to the market for cards, meals, flowers and gifts.
With an estimated 35% of Britons are gearing up to celebrate the calendars mushiest date retailers are gearing up to capitalise with a hefty sales boost as seven out of ten of these hopeless romantics take to their High Street or local retail park to stock up.
By contrast just 18% are forecast to do so online.
The majority of romantics (52%) will be penny-pinchers, spending less than £20 on the big day, with 32% splashing out between £21 and £50 and 16% planning to cough up in excess of £50.
This cash will predominantly trickle down into the greetings card industry with (65%) of those quizzed expecting to send a card, followed by 26% who intend to go out for a meal and 25% who will opt to cook a meal at home.
Some 21% of people will give flowers, with 14% celebrating with chocolates and the same number buying a special meal to enjoy at home. Luxury items by contrast occupy a slender niche with jewelery featuring in just 5% of respondents plans, champagne in 4% and lingerie just 3%.
Pam Armstrong, Managing Director, Consumer & Retail at GfK, says “At last, some positive news for the British high street: it looks set to receive a boost from consumer spending this Valentine’s Day. February 14th appears to be one of those occasions when we like to choose our gifts carefully – whether flowers, cards or gifts – and comes as a timely reminder that the high street has lots to offer shoppers.”