Valentine's Day in Australia 2015: Multiple Screens and Fancy Jewellery
Distilled to a dollar value, $86 is the average amount of money that a typical Australian romantic might spend on their loved one on Valentine’s Day in 2015.
According to research giants IBISWorld, Aussies will part with nearly $800 million in this season of hearts. It represents a growth in total spend of almost 2% compared to 2014, and a net increase of over $13 million in just a year.
This growth is attributed to a trending preference for premium goods and experiences, with clear winners in the categories of Dining (a whopping 24.4% growth to $42.3m) and Jewellery ($40.5m, up 9.2%). But king of all Valentine’s goods remain flowers, with Australians expected to open their wallets to a tune of $93.3m. Other contributing factors might include the special day falling on a Saturday along with lower fuel prices. A lavish weekend away for sweethearts?
From an e-commerce perspective, Nextopia reports that global online sales for Valentine’s Day 2014 rose 8% over the previous year.
And what role does the trusty smartphone play in Valentine’s Day purchases? It’s interesting to note that while phones and tablets accounted for more than a third of all online traffic that day, less than a fifth of the online sales were completed on a mobile. Is this another affirmation of the new ‘normal’? In this age of multiple screens, consumers browse and research through their mobile device, but often transact their purchases on a desktop computer or notebook.
So what might all this luxury shopping and dining (or lack thereof) mean for all the amorous couples out there?
Recently, Facebook revealed that within 4 days of Valentine’s Day in 2014, more than 75 thousand Australians changed their relationship status on the social network, with 12 thousand getting “Married”. And while another 13 thousand changed their status from “Single” to “In a Relationship”, 10 thousand went in the other direction.
So given that 14% of Australians would rather spend the holiday with their pets, and that our American counterparts are estimated to spend over $700 million on Valentine’s Day treats on their furry companions alone this 2015, maybe shelling out on glam jewellery coupled with a fine dining date on your partner is a worthwhile investment!