Valentine’s Day sales increase in 2015

Jewellers benefitted from a strong Valentine’s Day as sales of jewellery were up 7.3% in February compared to the same month last year, according to new figures. 

This is according to Barclaycard’s monthly consumer spending index which shows that, following a slight dip at the start of the year, retailer consumer spending growth rebounded in February to the 4.1% level seen over the Christmas period.

The increased consumer confidence was put down to a higher wage growth, falling inflation and lower petrol costs.

The data showed that much of the UK’s spend growth is coming from higher number of smaller value transactions as consumers retain strict budgetary control and cut back the cost of each purchase by shopping around and trading down.

Chris Wood, managing director at Barclaycard, said: “A combination of higher wage growth, record-low inflation and an effective fuel-tax cut in the form of lower forecourt prices made February a good month for consumers, with many benefitting from having extra money in their pockets in time for the half-term holidays.”