Loved up Aussies will drop approximately $43.61 on their special someone this Valentine’s Day, with spending on travel and accommodation expected to top the list.
According to an IBISWorld forecast, Australian consumers will spend $1.09 billion on the 14 February celebration, with more than half of this, or $621.3 million, coming from shoppers splurging on a romantic getaway.
Chocolate and confectionery sales are expected to come in second with a predicted $132 million, followed by flowers at $123 million.
Clothing and lingerie retailers can expect a sales boost with an expected $89.7 million. According to Vanessa Galina, general manager of sales at Simone Perele Australia, much of this will come from women buying items for themselves.
“Whilst partner purchases are often from people in a new relationship, we see women looking to treat themselves to some pampering when they come in-store and Valentine’s Day is a perfect excuse for customers to invest in themselves,” she said.
The Australian Retailers Association (ARA) executive director Russell Zimmerman said he is expecting this year’s Valentine’s celebration to be even bigger than usual, thanks to the legalisation of same-sex marriage at the end of 2017.
“Although we celebrate Valentine’s Day every year the ARA believes last year’s same-sex marriage vote will see specialty retailers receive a bigger increase in sales,” he said.
Gerry Gerrard, CEO of Interflora, said the flower delivery company expects approximately five million blooms to be delivered across Australia during the Valentine’s Day period.
“As love truly blooms for all on Valentine’s Day we are seeing an increase in flowers being delivered from men to men and from women to women,” Gerrard said.
“Remarkably, around 1 per cent of Interflora’s Valentine’s Day deliveries are actual wedding proposals.”
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