Who knew being tardy could save you some big bucks? A recent study by Simon-Kutcher & Pantners proved that people who waited last minute to purchase gifts, romantic dinners and even flowers for their significant other, saved a lot of cash as opposed to the early birds.
Take a look at the analysis
Restaurants and romantic meals
New research from pricing specialists Simon-Kucher & Partners found that in 2015 the number of London restaurants with Valentine’s Day promotions almost tripled in the days just before February 14th meaning last-minute romantics were rewarded for their tardiness.
For instance, from January 21st to February 13th the number of promotions on the restaurant booking website OpenTable increased sharply by 180%. This trend for deals for late bookers is even stronger this year, with far more promotions already available.
Dimitris Hiotis (Head of UK Leisure, Travel & Tourism) at Simon-Kucher said: “No restaurant wants empty tables on Valentines, so if you’re willing to take the risk, and reduced choice, you could find some cracking deals in the lead up to the big day!
Mark Billige (Managing Partner UK) of Simon-Kucher said: “Last year in the run-up to Valentine’s Day, champagne discounts across major retailers were some of the best seen all year, with those discounts reducing soon after the 14th. This year those who bought champagne this month are likely to have benefitted from attractive promotions in the two weeks running up to Valentine’s, with up to 50% off across some of the major supermarkets. The expectation is for prices to return to normal from February 15th..”
Chocolates and perfume
Unfortunately the waiting game will not have worked for chocolates or fragrances, however, as prices have remained consistent in the run-up to Valentines.
In fact, when it comes to fragrances, some major retailers have actually increased prices on best-sellers since the start of February (e.g. John Paul Gaultier and Paco Rabanne Lady Million).
However, based on last year’s trends, these prices can be expected to drop significantly in the build up to this year’s Mother’s Day on March 6th.
Spontaneous romantics, looking for a last minute deal to Paris the “city of love”, were unlikely to find any bargains. Research from Simon-Kucher & Partners has found that 70% of people expect prices to go up on airline tickets as the departure date nears, and has been true for romantic getaways from London to Paris this weekend.
Flights to Paris were up to 2.5 times more expensive on budget airlines for this coming weekend compared to those in a fortnight’s time for the last weekend of February. Those hoping instead to take the Eurostar to Paris on Friday evening, will have been dissapointed to find standard tickets sold out well in advance.
To cap off your Valentine’s Day preparations, you will be looking for flowers. Frugal fellas can expect to save up to £25 on a dozen roses this year by ordering them from major supermarkets, rather than specialist florists!
Simon-Kucher’s latest price and inflation bulletins are available at: simon-kucher.com
Photo Credit popsugar.com
Don’t forget to follow us on: