Feb 14, 2020

Poundland sells 40,000 engagement rings ahead of Valentine's Day

The discount retailer told the BBC it had sold almost 40,000 engagement rings ahead of Valentine's Day this year, nearly double last year's tally. Spending on Valentine's Day reached around £853m last year, up 7.8% on 2018 figures, according to the research firm Savvy. Retail analyst Kate Hardcastle said events like Valentine's Day are really important for retailers because they drive customers into shops where they will often make impulse purchases. "You know Valentine's Day sounds a bit more meaningful than 'here comes spring'." Its rival Card Factory said people were increasingly celebrating Valentine's Day with friends and family members, not just significant others.

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