Valentine’s Day, also known as Saint Valentine’s Day or the Feast of Saint Valentine, is celebrated globally on February 14 as a day dedicated to love and affection.
The occasion has historical ties to both ancient Roman festivals and Christian traditions, with its most widely accepted origin linked to the Roman festival of Lupercalia, a mid-February event centred on fertility and purification.
Another theory attributes the name and spirit of the day to one or more early Christian martyrs named Valentine, particularly St Valentine of Rome, who, according to legend, defied Emperor Claudius II’s decree by secretly performing weddings for soldiers.
In Nigeria, Valentine’s Day has evolved into a major commercial event, with businesses capitalising on the celebration through gift sales, entertainment, and dining experiences.
While expressions of love remain at the heart of the occasion, its financial significance has become increasingly pronounced.
Consumer spending continues to grow year on year, making Valentine’s Day one of the most significant retail spending periods in the country.
Spending Trends and Economic Influences
Despite rising inflation, Nigerians remain committed to celebrating Valentine’s Day, with spending levels increasing compared to previous years. Reports indicate that consumer expenditure on the occasion has surpassed previous records, reaching billions of Naira.
However, the impact of inflation, which rose from 9% in 2015 to an average of 33.2% in 2024, has made traditional Valentine’s Day activities such as gift-giving, dining, and outings more costly.
Key Insights from Consumer Research
A survey conducted by SBM Intelligence in Abuja, Lagos, and Port Harcourt among Nigerians aged 18 to 65 highlighted notable trends:
1. Increased Participation
- 85.6% of respondents intend to celebrate Valentine’s Day in 2025, a significant rise from 62.8% in 2024.
- The proportion of people who do not plan to celebrate has fallen to 14.4%, down from 37.2% last year.
2. Higher Spending Habits
- 33% of respondents intend to spend N51,000 – N100,000 on Valentine’s Day.
- 25.5% plan to allocate between N10,000 – N50,000.
- 17% expect to spend between N101,000 – N200,000.
- 11.7% will spend between N201,000 – N500,000.
- Nearly 5% of respondents anticipate spending N501,000 or more, an increase from 1.59% in 2024.
The increase in spending is not solely due to enthusiasm; inflation has driven up costs, necessitating larger budgets for gifts, dining, and experiences.
3. Popular Gift Choices
Nigerians prioritise food and perfumes as the most popular Valentine’s Day gifts, with nearly 80% of consumers intending to purchase these items. Other common gifts include:
- Jewellery (28.2%)
- Roses (23.9%)
- Watches (23.4%)
- Women’s shoes (22.8%)
- Wigs (22.3%)
- Chocolates (18%)
- Gift hampers (10%)
- Smartphones (10%)
4. Preferred Celebration Venues
Restaurants remain the top choice for Valentine’s Day outings, followed by other entertainment options:
- Restaurants (27%)
- Cinemas (20%)
- Hotels (11%)
- Local getaways within Nigeria (10%)
- Street food vendors & local eateries (9%)
- Beaches (6.1%)
- International holidays (3.4%)
- Parties & nightclubs (2.8%)
- Resorts & art galleries (1.7%)
5. Shopping Preferences
Consumers prefer to purchase gifts from department stores and shopping centres (31.8%), followed by:
- Supermarkets (30.3%)
- Online retailers (18.4%)
- Boutiques (17.8%)
6. Ideal Valentine’s Day Activities
- 24.1% favour spending quality time and going on dates.
- 22.5% enjoy entertainment and activities.
- 18.7% opt for food and dining.
- 11.8% prioritise gift exchanges.
- 10.7% prefer travel or romantic getaways.
Consumer Motivation and Social Pressures
While personal sentiment remains the strongest driver of Valentine’s Day spending (36.6%), social media trends (25.3%) also exert a notable influence. Other contributing factors include:
- Tradition and societal expectations (19.9%)
- Advertising and promotions (16.7%)
Interestingly, while overall spending is increasing, 79.3% of respondents claimed they do not feel pressured to spend due to societal expectations. However, discounts and promotions—particularly those advertised on social media—significantly impact consumer decisions.
Aspirational Spending and Limitations
If financial constraints were not an issue, 31% of respondents would prefer an international holiday for Valentine’s Day. Other ideal celebrations include:
- Entertainment & activities (18.6%)
- Fine dining (12.8%)
- General travel (9.6%)
- Hotel & resort stays (8%)
- Domestic travel within Nigeria (6.4%)
Planning Habits: The Last-Minute Culture
- 35% of respondents organise their Valentine’s Day activities just a few days prior to the event.
- 30.9% plan one to two weeks in advance.
- 17.6% finalise their plans on the day itself.
More than half of respondents (52.6%) make last-minute plans, reflecting a spontaneous approach to the occasion.
The Expanding Commercial Influence of Valentine’s Day in Nigeria
Valentine’s Day in Nigeria has transcended its sentimental roots to become a significant economic event, with retailers, restaurants, and entertainment venues vying for consumer attention. Rising participation rates and increased expenditure indicate that the occasion is growing in both cultural and financial significance.
As costs rise, businesses are leveraging bundle deals and promotional discounts to attract customers. Popular Valentine’s Day packages in Nigeria include:
- Flower & chocolate gift sets
- Dinner & cinema experiences
- Assorted luxury gift hampers
- Jewellery & accessories collections
- Spa day & relaxation retreats
The 2025 Valentine’s Day celebration in Nigeria is poised to set new records, with increased participation and higher consumer spending than ever before.
While inflation has played a role in driving up costs, factors such as personal sentiment, social media influence, and promotional incentives are also key drivers of expenditure.
While some consumers continue to prioritise financial prudence over extravagant spending, the overall trend suggests a consistent rise in expenditure on gifts, dining, and entertainment.
With the growing commercialisation of Valentine’s Day, businesses will continue to innovate and expand their offerings to meet the evolving preferences of Nigerian consumers.
