Valentine's Day spending down notably despite spike in luxury items 

Bank of Ireland said shoppers spent less on traditional gifts such as flowers and cards and more on a special night out

Restaurant spending was up 22% compared to Valentine’s Day last year, and hotel stays rose 11%, with a strong appetite for romantic dining and overnight stays.

Spending on Valentine's Day dropped notably this year, with a 14% fall despite spikes across several consumer categories. 

New figures released by Bank of Ireland show consumers shifted their focus to more luxury goods and quality time together this year, with strong annual increases across pubs, jewellery, hotels and restaurants.

The lender said this reflected shoppers spending less on traditional gifts such as flowers and cards and more on a special night out.

Jewellery spending surged by 51% on the day itself, suggesting that more people left things to the last-minute for gifts this year, Bank of Ireland said. Hospitality also benefitted this year, with pubs seeing the most dramatic rise, up 51%.

However, Bank of Ireland noted this was likely a mixture of ‘romance and rugby’ with the Ireland versus Italy game landing last Saturday too.

Restaurant spending was up 22% compared to Valentine’s Day last year, and hotel stays rose 11%, with a strong appetite for romantic dining and overnight stays.

While some traditional categories such as flowers, experiences and perfumes recorded declines, Bank of Ireland said the data highlights a clear shift in consumer preference with less emphasis on single‑use gifts and more investment in shared enjoyment.

“Our Valentine’s Day data shows that while overall spending was slightly softer, people were still determined to make the day special," said Gerardo Larios Rizo, head of hospitality sector at Bank of Ireland.

"Instead of splashing out on single‑use gifts, consumers shifted to special moments such as a romantic dinner, a hotel stay or even celebrating ‘romance and rugby’ in their local pub. While some romantics shopped ahead, the spike in jewellery sales on the day itself suggests a rush of last-minute panic-buying this year.”