Beef steaks, cheese and desserts are predicted to perform well on Valentine’s Day (Wednesday, February 14) this year.
Analysts from the Agriculture & Horticulture Development Board (AHDB) have explored last year’s sales and current data to form their 2024 predictions for Valentine’s Day retail performance and consumer trends.
In 2023, Valentine’s Day saw the lowest volume performance for the last five years, as shoppers watched their spending during the cost-of-living crisis.
It was during this period that the average price/kg for meat, fish, and poultry products increased from £6.60 to £7.38 (€7.73 to €8.65).
However, according to the AHDB, steaks are “more likely to be eaten during February than any other time of year”.
Despite being priced higher than average, sirloin steak was the only cut of beef to see growth last year.
This was due to other steak cuts having much steeper price rises and sirloin’s price increasing at the slowest rate at 3.5% of an increase, compared to 9% of an increase for total steak.
“Sirloins may perform just as well this year, or perhaps we will we see an uplift in cheaper steaks, such as rump, if shoppers are looking to indulge on a tighter budget,” the AHDB prediction for Valentine’s Day stated.
Valentine’s Day trends
AHDB analysts predict that this year cheese could, like steak, be featured in ‘meal deals’ for Valentine’s Day as an alternative to a sweet dessert.
In 2023, AHDB stated it was only cheddar cheese and soft white cheese that performed well during peak Valentine’s shopping periods.
However, AHDB predict that if supermarkets push cheese promotions outside of everyday staples, it’s cheese could see a stronger performance this year.
Double and single cream sales increased by 6.6% and 12% respectfully last year, and AHDB predict this trend to continue in 2024.
Grace Randall at AHDB, said: “We know that Valentine’s Day is a significant event for retail sales, with the second highest average plate cost, behind Christmas.
“With many consumers continuing to feel the pinch of the economic crisis, value and economy tiers are likely to come out on top again this year.
“As Valentine’s Day lands on a weekday this year, we also predict that more people will be celebrating at home, hence supermarket deals such as steak and dessert ‘meal deal’ promotions could be popular,” Randall added.
