14 Feb 2018
Posted in Retail
Valentine’s Day 2018: Cost conscience consumers to cut fine dining on Valentine’s Day
According to GlobalData,a leading data and analytics company, over half of consumers forked out for a Valentine’s Day meal at a fine dining restaurant last year, up 5.0ppts on 2016. However the company believe that this trend is set to change in 2018 as consumers look to balance their budgets with more affordable dining options.
Eleanor Parr, Retail Analyst at GlobalData said, ‘‘This year GlobalData expects less consumers to dine out for the event in an attempt to reign in spend and those that do to trade down to more affordable options such as eating at a family type or fast food restaurant.’’
This is just one of many findings from GlobalData’s Retail occasion report series: ‘Valentine’s Day in the UK 2017‘, covered in a recent company PR release: ‘Discounters poised to increase share of £1Bn Valentine’s Day sales’