This year marks the first “restriction free” Valentine’s Day since 2020 and consumers are priming to break sales records.
Together with Mother’s Day, February 14th traditionally prompts a major spike in fragrance sales so beauty and perfume brands also get to smell the roses, jasmine and more.
Aussies are ready to splash the cash on Valentine’s Day this year to the tune of $485 million, says the Australian Retailers Association (ARA), in collaboration with Roy Morgan. A rise of 16.9 per cent compared to 2022.
The nation’s romantics are also expected to increase the average spend on gifts for their loved ones to $118 – up 6.3 per cent on last year. NSW is on track to deliver the biggest state spend of $155 million, followed by Victoria ($105 million) and Queensland ($85 million).
Flowers are expected to top the rankings with 42 per cent of those surveyed planning to buy floral tokens of their affection, followed by chocolates/food (29%), sex toys/other toys and dining out and getaways (both 7%).
David Jones is set to dive into the burgeoning sexual wellness category as it seeks to broaden its retail offering to customers and tap new areas of growth.
A major Valentine’s Day promotion will mark the launch of the partnership in David Jones flagship Sydney store in Elizabeth St showcasing Australian sexual wellness brand Frenchie products, including its brand new The Petit Eiffel mini vibrator, to buyers from Friday 10th February to Tuesday 14th February.
David Jones category manager of beauty, Ben James Mitchell, said: “The rapid growth of the sexual wellness industry over the past few years has resulted in a growing demand for personal pleasure products from within the beauty and self-care space.
“We’re pleased to be able to offer our customers the chance to shop Frenchie products in person in our flagship store with this exclusive Valentine’s Day pop-up.”
Frenchie founder and CEO, Shayne Mele, added: “We’re honoured to be the first sexual wellness brand sold in store at David Jones. David Jones is Australia’s most iconic department store and we’re pleased to be working alongside them to help normalise sexual wellness and pleasure.”
Gen Zers and Millennials aged 18 to 34 are expected to be the biggest spenders on Valentine’s Day – $215 million – followed by those aged 35 to 49 at $140 million.
Paul Zahra, CEO of the ARA, credits “freedom spending” as the main catalyst for the rise in Valentine’s Day gift purchasing this year.
“We’re expecting a $485 million romantic spending splurge this year, with Australians taking advantage of long sought-after freedoms to spoil their loved ones with gifts, intimate date nights and getaways.”
Sensory indulgence is certainly a theme this year, noted Zahra. “Other hot ticket items include watches, lingerie and AirPods. One of the notable gifts recorded was a $350,000 Lamborghini – someone is going to have a great Valentine’s Day.”
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