According to the Australian Retailers Association (ARA) consumers will be spending $485 million on gifts, up 16.9 per cent year on year.
ARA CEO Paul Zahra says the traditional Valentine’s gifting experience had this year been expanded beyond the traditional partner or lover.
“The gift-of-love has evolved this year, with shoppers increasingly spoiling friends, family, colleagues and even pets.
“Pets are in for a treat this year―a fitting reward for their companionship throughout a tough period in history. Just don’t expect the gift to be reciprocated.”
Flower power will reign supreme, identified by 42 per cent of people who plan on buying a gift. French Rose brand, Maison Mirabeau, has teamed up with Fig & Bloom to create a special bouquet for Valentine’s Day.
The bouquet features a selection of pink roses that have been carefully curated to complement the French Rivera-inspired botanicals found in Maison Mirabeau’s Dry Rosé Gin.
“We are delighted to work with Maison Mirabeau on this special Valentine’s Day bouquet,” says Dan Groch, co-founder of Fig & Bloom.
“Our team has put a lot of thought and care into the design and we are sure that couples will love the combination of gin and flowers.”
Recent research by video gifting creators, gift flick, shows that when it came to the type of gift preferred 40 per cent wanted something physical, 32 per cent were up for something delivered digital―such as a gift voucher―and 28 per cent said gifts were unnecessary.
“Post pandemic a lot of people are working from home, so along with the embarrassment factor, it’s hard to pick when your paramour is at their desk, at home or even off at the dog park living their best balanced life,” says gift flick co-founder and CMO, Helen Marsh.
“Our technology enables gifters to reach loved ones anywhere at any time and it allows them to be hyper-personal with a free curated ‘gift story’ that includes your text and video and reveals images of the gift you’ve selected for them.
“gift flick is also really helpful if you only remember on the day before Valentine’s Day. While the gift will arrive after the 14th, the message of love can be created in minutes for instant delivery.”
Despite economic headwinds, many Australians are still willing to splash the cash on a gift. Indeed, Prezzee CEO Jamie Samaha predicts Australians will continue to spend big this Valentine’s Day despite feeling the financial pinch.
“We’ve already seen this year that consumers are willing to spend their hard-earned money on their loved ones,” he says.
“Our Lunar New Year figures show that the average Aussie is spending $150 per gift card and with Valentine’s Day fast approaching, we’re expecting to see growth on that figure as Australians look for more practical ways to show love to their valentine.”
The digital gifting company recently launched its ‘Secret Admirer’ feature. The Valentine’s Day activation provides a digital solution to anonymous gifting, offering Aussies the chance to surprise their valentine with a digital gift card.
“Prezzee is bringing the excitement and anticipation of gifting this Valentine’s Day, looking to connect more Australians together through the power of digital gifting.
“The cost-of-living crisis is affecting many hard-working Australians who are now looking for help with their everyday expenses and are moving away from acquiring material items for their loved ones.”
Indeed, exclusive new research of 1,000+ Aussie consumers has revealed that one in five (20 per cent) of us will be spending less this Valentine’s Day, with 48 per cent of that cohort blaming inflation and the rising cost of living for killing the romance.
The study commissioned by Moonpig and Antenna also reveals that a number of us aren’t planning to spend anything at all this Valentine’s Day, with 39 per cent of Aussies tightening their belts entirely. For some, this was motivated by the belief that they don’t need to prove their love through expensive gifts (39 per cent).
In a bid to combat these concerns, Moonpig has launched a limited edition Australian capsule collection of affordable personalised Valentine’s Day cards, in partnership with comedian Tanya Hennessy.
“We know that Aussies are feeling the cost of living pinch, that’s why we’re proud to be launching a Valentine’s Day capsule collection of affordable, but most importantly meaningful, customisable cards, in partnership with funny woman Tanya Hennessy,” a Moonpig spokesperson says.
“We polled 1,000 Aussies to find out their spending intentions for this Valentine’s Day. Our research showed us that consumers are looking for affordable yet meaningful ways to show they care and so we are excited to show the nation that it means more with Moonpig, without breaking the piggy bank.”
