Up to £1.6bn to be spent on Valentines day
February 8, 2008 by admin
Filed under News, News-Credit-Cards
British spenders are expected to splash out up to £1.6 billion on Valentines day gifts for loved ones, according to a recent survey. 
Findings from PayPal revealed that the average spend per gift is thought to be £71.25 with those in a relationship spending £69.90.
Cristina Hoole, spokeswoman for PayPal, said: “It would seem that romance is far from dead as almost half of Brits will be splashing out a massive £1.6 billion on their loved ones this week.”
She added that as millions are expected to hit shops, up to one in five will choose to shop online for a gift to avoid the crowds.
Further findings from PayPal showed that up to a quarter of UK men are more likely to conduct their shopping online and 36 per cent of Brits in a relationship do not plan to give any presents.
Meanwhile, research from APACS, the UK’s payment association, revealed that credit card spending over the festive period totalled £32.2 billion.
