Two-fifths of retailers expect Valentine’s sales boost
Some £787m is expected to be spent on the celebratory day
Two-fifths of retailers (41%) expect to see a boost in sales in the run up to Valentine’s Day.
According to Barclaycard Payments, £787m is expected to be spent on the celebratory day, despite ongoing Covid-19 restrictions.
As a result of the expected 26% spike to predicted sales, 63% of retailers have reportedly enhanced their ecommerce capabilities.
Moreover, 31% of those firms are expanding their online advertising while one in four (26%) businesses are increasing their online stock availability.
Kirsty Morris, managing director at Barclaycard Payments, said: “While some gifting traditions stand the test of time, the way we’re purchasing these items is certainly different this year.
“It’s encouraging to see retailers have remained agile throughout the pandemic and are supporting their customers in new ways – whether that’s sending flowers with same-day-delivery, offering personal shopping experiences online, or expanding products and services to meet new demand.”
Elizabeth Galton, marketing director at British jeweler Ernest Jones, said: “We have seen an increase in branded and fine diamonds jewellery sales, traditionally popular time at this time of year.”
She added that the firm has utilised its store colleagues to guide clients through online purchases, typifying the “shift in focus” being taken by many retailers.
