On Valentine’s Day, Australians are anticipated to shower their loved ones, and themselves, with affection, as projections suggest a whopping $465 million will be spent on traditional gifts and self-indulgences.
Valentine’s Day is poised to be a day of abundant love and generosity in Australia, with expectations soaring as Aussies are forecasted to splurge a staggering $465 million on traditional gifts and self-treats. Research conducted by the Australian Retailers Association (ARA) in collaboration with Roy Morgan indicates that 3.4 million Australians are gearing up to spend an average of $135 per person, marking a notable increase from last year’s average of $118, a surge of 14.4%.
ARA CEO Paul Zahra emphasized the evolving nature of Valentine’s Day celebrations, emphasizing the importance of inclusivity and self-love in this year’s festivities. He highlighted the expanding notion of Valentine’s Day beyond romantic couples, embracing expressions of affection towards family, friends, and even pets. Zahra also underscored the significance of self-appreciation, particularly for single individuals, encouraging everyone to partake in the celebration.
The survey revealed a penchant for classic Valentine’s gifts, with flowers, chocolates, and hospitality outings topping the list of preferred presents. Florists are anticipated to experience a surge in demand, with 48% of respondents planning to purchase flowers, up from 42% in 2023, followed by chocolates at 33%, a rise from 29% last year.
Despite the ongoing challenges faced by the retail and hospitality sectors, Valentine’s Day presents an opportunity for consumers to support local businesses. Zahra encouraged patrons to spread the love by patronizing their favorite local establishments, cafes, and restaurants, especially during these trying times.
