Tomorrow will see the start of the Valentines Day spending rush, with romantic Brits using this weekend to organise restaurant bookings, flowers and gifts.
In fact, more than a million eager Valentines will be heading to the shops tomorrow, spending more than £28m this Saturday alone.
Dubbed ‘Red Saturday’, analysis from the relationship experts at eHarmony, also finds that interest in dating – based on a 10-year index of Google trend data, social media and dating site registrations – is set to be 55 per cent higher than the average day.
Total spending on Valentines Day this year is set to exceed £700 million. The average spend among those celebrating the day is set to be £22.58, with those in Scotland (£31), London (£26) and the North West (£23) spending the most, while those in Wales and the West (£17) will spend the least.
In addition, more people intend to celebrate Valentines Day this year, as 13 per cent more people say they’ll mark the occasion compared with 2016.
Breaking down the total sum further, a whopping £69 million will be spent on flowers and £42 million on chocolates. Meanwhile, a significant number will splash out on more lavish gestures, with £77 million going towards buying a loved one jewellery, while one in every £8 spent (13 per cent) will be on a romantic getaway.
Despite the UK’s big Valentines spend, it’s not everyone’s favourite day. Just over a quarter of Brits (28 per cent) think Valentines Day is a waste of money. Meanwhile, a tenth (9 per cent) of those in a relationship admit that they would ignore Valentines Day if they could be sure their partner would agree with the decision.
Rachael Lloyd, spokesperson for eHarmony.co.uk, says, ‘Red Saturday sees a huge boom in consumer spending as Brits prepare for Valentines Day. With an incredible £700 million being invested in love across Britain, it’s evident we’re still a pretty romantic nation at heart.
‘However, it has to be said Valentine’s Day can feel pretty isolating if you’re single, and just over a quarter of people would rather not celebrate. At eHarmony, we know that Valentines is simply a day and that when it comes to truly compatible relationships the greatest rewards are often in the little day to day intimacies shared over time.’
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