The UK economy and consumer confidence may be in the doldrums, but love still conquers (almost) all. It seems Valentine’s Day (14 February) is going to be bigger than last year with almost half of consumers intending to splash out more on gifting this year, according to Global data.

However, it’s going to be more about buying tokens of love rather than consumers spending big on higher-priced items such as fashion, jewellery or fragrance, the report disappointingly says.

The uplift on 2024 is being driven by those aged 25-34, because this age group’s more likely to have young families, and consumers plan to buy for partners and significant loved ones such as children, as well as friends.

This means “retailers have the opportunity to utilise the popularity of this occasion among these shoppers to encourage larger basket sizes and boost average spending”, according to its latest report ‘Retail Occasions: Valentine’s Day Intentions 2025’.

It reveals 69.3% of UK 25-34-year-olds intend to spend on this occasion, marking a 7.8 percentage points uplift on 2024 intentions. This age group will account for almost a quarter of Valentine’s Day shoppers in 2025, making them a core target demographic for retailers.

It said 11.9% of Valentine’s shoppers intend to purchase gifts for friends, up 3.2% on 2024. This trend’s driven by Gen Z consumers, with 59% of this generation saying that Valentine’s Day is not just an occasion to treat their partner and that they like to buy gifts or cards for other loved ones. 

“Events such as Galentine’s Day [celebrating women’s friendships] parties… may still be niche but must not be ignored by retailers”, it noted

Zoe Mills, lead retail analyst at GlobalData, said: “Intention to spend on Valentine’s Day is high, but few consumers have started to spend on this occasion so far in January, meaning retailers still have plenty of time to entice shoppers to purchase.

“While partners are the main recipients among Valentine’s Day gift shoppers, more consumers intend to spend on their children for the event, highlighting that this occasion is not just about romantic love but also familial love, coupled with self-love and the appreciation of one’s friends.

However, she added: “The higher intention to spend on these items also implies that Valentine’s Day gifts are more of a token than an excuse to splurge on premium options such as fine jewellery, and retailers must ensure a broad pricing architecture to appeal.”