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Cost of loving crisis: Brits to spend less on Valentine’s Day this year

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The cost-of-living crisis is changing how Britons plan to celebrate this Valentine’s Day, with many saying they'll mark the occasion at home, or not at all.

This year’s Valentine’s Day may be a little more subdued for many Brits. A survey by the shopping site TopCashback of 2,500 adults in Britain found that more than a third (38%) of those surveyed said the cash crunch would affect their blueprint for romance: 13% said they’d celebrate without spending anything and 21% said they couldn’t afford to celebrate at all.

This is despite the fact that the survey also found that half of us are planning gestures of love to mark the day, spending an average of £65 each (or £2.2bn countrywide) on gifts such as chocolates and flowers.

Of those embracing the holiday, 67% said they’d do something at home rather than, for example, going out for a pricey meal. Their plans included cooking a romantic dinner from scratch at home (62%), preparing a supermarket ‘meal deal’ at home (19%), or opting for a takeaway (16%).

About half of respondents said they won’t buy a special gift this year, with 16% blaming tight finances.  

Classic gifts or creative ones?

Among those planning on gift giving this year, the classics are leading the pack, with 57% saying they’ll opt for gifts like chocolates or flowers. Others (11%) are relying on practicality or their own skills by creating handmade goodies or giving something their heartthrob actually needs.

Adam Bullock, UK director at TopCashback, had this advice for lovers across Britain:Whatever you do this Valentine’s Day, if you are keen to have a celebration without breaking the bank, be sure to do your research and find the best deals before making a purchase.

“Retailers tend to have great seasonal offers ahead of the big day, and you can also recoup some of your spending by shopping through a cashback site like ours.”

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