Recent data from AIB disclosed a significant uptick in spending at jewellery shops on Valentine’s Day.
According to the report, spending in jewellery shops surged by 38%, with the number of transactions rising by 45% compared to a week earlier.
The average spend per transaction was noted at circa €140, showcasing a lucrative opportunity for jewellers during love-centric holidays.
Gendered Spending Patterns
Men emerged as the bigger spenders in jewellery shops, with an average transaction value of around €178.
This gendered spending trend reflects broader market patterns, aligning with historical data where men typically spend more on jewellery, especially during romantic occasions such as Valentine’s Day.
Sector-Wide Implications
Sean Jevens, Chief Digital Officer at AIB, remarked, “Occasions like Valentine’s Day provide a unique insight into the spending habits of people in Ireland and can help both customers to plan their spending, and businesses to plan and meet their needs.”
The increase in spending at jewellery shops during Valentine’s Day not only underscores the sector’s potential but also highlights the importance of seasonal marketing strategies for jewellery retailers.
Future Projections
With the demonstrated increase in spending, jewellers might look forward to leveraging similar occasions to boost sales. Tailored marketing strategies, special discounts, and unique jewellery collections could be instrumental in attracting more customers and driving sales upward.
