The ANZ reports
There is likely a range of views out there about whether Valentine’s Day spending is a luxury or a necessity, but either way, ANZ card spending at jewellers and florists saw its usual jump leading up to and on Valentine’s Day, 14 February. The data shows a decent bump for jewellers, and a dramatic annual spike for florists. Jewellery spending hasn’t reached the heights of 2021and 2022, but florist spend has surpassed previous years. However, this is nominal data, meaning it captures price changes as well as volumes of sales.
Even though the florists look like they have had a good year they have only just matched last years effort without taking into account inflation. Jewellers are even worse off. It looks like spending on Valentines Day meant lots of friendly flowers for the moment but not a lot of promising futures sealed with a diamond ring.
source: ANZ Research