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Valentine's shoppers prefer buying gifts in-store
A new study has revealed that when it comes to buying Valentine's day gifts, shoppers prefer the personal touch and picking out their presents in store.
Figures from MasterCard show that consumer spending in the build-up to Valentine’s Day by UK shoppers has increased by 15% over the last three years. The data also reveals that many people are moving away from gifts and grand gestures in the pursuit of an experience and the creation of special memories.
The ‘MasterCard Love Index’, which analysed credit, debit and prepaid card transactions in over 200 countries between 11 to 14 February in 2013, 2014 and 2015, not only looked at the volume of spending and the amount spent but also analysed the types of spending associated with Valentine’s Day.
It found that 80% of UK shoppers made purchases in person, whereas only 12% preferred to make their transactions online. Europeans made the most of buying online with over a fifth of transactions taking place via the internet. Globally, 90% of purchases were made in person.
Spending patterns across the globe show an increasing number of people are treating their loved ones to meals in restaurants for Valentine’s. Spending on restaurants in the UK has gone up each year, accounting for 22% of spend in 2013, 25% in 2014 and 29% in 2015.
Flowers and stationery/cards accounted for less than 5% of purchases by UK shoppers in 2015, down from 8% in 2013.