This probably comes as no surprise, but lovers, dreamers and schemers across the nation are expected to go cheap this Valentine’s Day (which is tomorrow, gentlemen… eh-herm).
According to IBISWorld Australia:
… many couples will substitute pricier gifts such as jewellery and lingerie for a simple box of chocolates and a card, forgo a dozen red roses for a single stem, and try to come up with inexpensive ways to celebrate such as cooking a romantic meal at home rather than splashing out on an expensive restaurant meal.
It is also predicted that gift buyers will choose discount and online retailers over pricier boutique stores and gift cards will be purchased at supermarkets rather than newsagents.
IBISWorld has also released a chart (below) indicating how much Australians will spend on typical gifts and the expected change in spending patterns from 2008.
Item
Total spend 2009
% change 2008 – 2009
Greeting cards
$13.9 million
+3.8%
Chocolate/confectionery
$274 million
+3.9%
Jewellery
$33 million
-2.3%
Flowers
$44.8 million
+3.4%
Eating out
$29 million
-1.4%
Clothing & intimate apparel
$66 million
-1.1%
Romantic getaway
$384.5 million
-1.3%
Other including plush toys and gift vouchers
$49 million
-2.0%
Photo: Esparta (Flickr)
