Retailers will include self-gifting in their marketing campaigns for Valentine’s Day to appeal to more individuals
GlobalData revealed that Valentine’s Day is set to be worth over £1 billion in 2020, up 0.6% in 2019.
Food and drink purchased for a romantic meal at home is still the best opportunity for retailers to gain more income. It allows retailers to capitalize on providing meal deals and recipe ideas with a focus on premium ranges.
For example, Morrisons supermarket has successfully implemented this year with its £15 Valentine’s Day meal deal for two, including a three-course meal and wine. Its online advertising visualizes this deal as a restaurant menu appealing to customers aiming to create a restaurant-like experience at home.
The Valentine’s Day gifting market is forecast to perform poorly with just 0.6% growth in 2020. Retailers are hoping to combat this by targeting an alternative audience, appealing to single people with self-gifting.