Women expecting lavish gifts this Valentine’s Day could be setting themselves up for disappointment if 2010 is used as a gauge, new research shows.
Data compiled by market research company Kantar Worldpanel’s GiftTrak showed that men purchased 25 per cent fewer gifts in 2010 than in 2009, and the experts believe this trend will continue for 2011.
The survey showed that just over 11 million Valentine’s Day gifts were purchased last year, representing a 16 per cent drop year-on-year.
Alex Seron, Consumer Insight Director for Kantar Worldpanel GiftTrak, said: “The fact that St Valentine’s Day fell on a Sunday last year certainly contributed to the decline in gift purchasing, as more partners may have prepared treats such as breakfast in bed instead or taken advantage of supermarket meal deals.
“Retailers should be more optimistic this year as St Valentine’s Day falls on a Monday. However, the outlook is not all rosy for retailers as people will still be looking to spend less on their loved ones this year.
“When gifts are purchased, we find that flowers, confectionary and jewellery are traditionally popular St Valentine’s Day presents for women and sales of these gifts are boosted in the run-up to February 14th. For men, likely gifts include clothing, confectionary and toiletries.”
Kantar says supermarkets are continuing to break in to the romance market, growing their share to 42 per cent last year. And with this in mind Co-op today rolled out a special Valentine’s Day TV marketing campaign, aiming to get customers to purchase its special meals for two.