With 74% of shoppers seeing the cost of dining out as prohibitively expensive, many are turning to more affordable in-home celebrations. Supermarket meal deals, premium food and drink, and gifting categories such as chocolates and clothing are all set to benefit in the lead-up to Valentine’s Day.
Savvy’s latest research finds that around half of UK shoppers plan to celebrate Valentine’s Day this year, rising to two-thirds among 18 to 35-year-olds. Households with older families are the most likely to get involved (69%).
Among those celebrating, 77% will mark the occasion at home, with 74% planning a special meal or drinks with their partner. With cost-consciousness front of mind, meal deals look set to be a key driver of supermarket sales—70% of shoppers say they will actively seek out deals and discounts on food and drink.
While budgets remain a priority, there is still a strong appetite for premiumisation. Six in ten (60%) of those celebrating say they are happy to spend more to make the day special, while 67% are willing to trade up to premium food and drink for an at-home occasion. This presents a significant opportunity for retailers with strong premium own-label ranges, such as M&S, which is well-positioned to capitalise on demand.
When asked what they would most like retailers to offer in the run-up to Valentine’s Day, 48% of shoppers mentioned meal deals, 35% want gift inspiration, and 31% would like to see a range of products catering to different budgets.
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