Around 40 million people in the UK celebrate Valentine’s Day and the estimated spending on Valentine’s Day in 2024 was £2.1 billion according to research analyst, Mintel, making it one of the most important spring season events and a profitable celebration day for retailers.
Tiger Feet (formerly Budget Greeting Cards) a major wholesaler of greeting cards, partyware, and giftware, has shared insights on Valentine’s Day trends and how retailers can capitalise on the day.
With the UK known to send more greetings cards per person than any other nation, one area where there is a large retail opportunity across Valentine’s Day is for the sales of cards, allowing Brits to share love without breaking the bank. In fact, cards were the wholesaler’s biggest revenue-generating category for Valentine’s Day products last year.
Akhtar Zahid, CEO at Tiger Feet comments, “Expressing how you feel with words is a timeless gesture of love, which is why gifting a card on Valentine’s Day remains a popular choice. With a wide range of cards available, from options ranging from sentimental messages to funny alternatives, greeting cards continue to play a pivotal role in celebrating love.
We are also seeing a trend of more couples opting for ‘no present pacts’, increasing the retail opportunity for the sales of cards, highlighting the importance of stocking a good range of Valentine’s Day cards.”
Another product which has retail opportunity this year is foil balloons, as according to Tiger Feet, Valentine’s sales of them have increased by 48% from 2019 to 2024, with this growth expected to continue this year.
Akhtar shares, “Foil balloons are a favourite for special occasions, which is why we’re seeing them become a key staple of Valentine’s Day as unlike flowers which can wilt quickly, they have a long-lasting float time.
With more people sharing their special moments online, whether the foil balloons are used for romantic decorations or as a standalone gift, they stand out and are impressive which is appealing for social media posts.”
Similarly, small soft toys and novelty items are also proving a popular option for retailers. Soft toys were the wholesaler’s second biggest revenue-generating category last year, as well as sales seeing an 86% increase since 2019. Artificial roses in acetate sold four times more units than the next bestselling product last year.
Akhtar explains, “We are seeing an increase in popularity of these types of products as they reflect a shift in gifting that is affordable, practical and still sentimental. This makes them an attractive choice for a wide range of consumers this Valentine’s Day.
Retailers can tap into the growing demand for thoughtful yet budget-friendly gifts by offering a range of cuddly companions and faux flower options, as well as creating bundled gift sets.”
Retailers should be aware that Valentine’s Day is growing from being just about couples to expanding into celebrating with pets and friends too.
Akhtar comments, “Outside of romantic relationships, we are seeing more people in the UK spending money on pampering their pets on Valentine’s Day. Another area that has seen an increase in popularity is Galentine’s Day, where friends come together and share their love.
Retailers should consider this wider consumer desire for Valentine’s Day celebration beyond the traditional romantic gestures within their Valentine’s Day stock and marketing.”
