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Valentine’s Day spend likely to see a double-digit increase, says FNB

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GUEST: Ashley Saffy - FNB Card Head of Spend and CVM
Valentine’s Day, popularly known as one of the most anticipated days to celebrate love through gifts and special moments with their loved ones, is finally here. During this popular period, past trends have indicated that FNB card holders spend more each year on categories such as chocolates, flowers, general gifts and jewellery.
Overall, Valentine’s Day spend in these categories increased by 11% year-on-year (YoY) in 2024 and is expected to double in digit growth this year. In the week of Valentine’s Day, the bank saw a 60% week-on-week increase in spend on chocolates in 2023 and 54% in 2024. Spend on flowers also reportedly increased by 83% in 2023 and by 91% in 2024. General Gifts also noted a 10% spend increase in 2023 and 9% in 2024, while jewellery equally saw a 10% spend uptick in 2023 and 9% in 2024.
13 Feb 10AM English South Africa Business News · Investing

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