‘£1.6 bn’ spent on Valentine’s Day

Brits are set to spend £1.6 billion on Valentine’s Day this year, according to research by online payment service PayPal.

The firm reports that 23 million people will spend an average of £71.25 on their loved ones, with this figure mirrored by US counterparts.

According to the study, the highest spenders are either single men or those aged between 25 and 34.

Those in a relationship will spend an average of £69.90 and singletons will splash out on £72.60, it claimed.

“It would seem that romance is far from dead,” commented Cristina Hoole, spokeswoman for PayPal. “With Christmas only a few weeks behind us, millions will be hitting the shops en masse, however one in five of us will choose to head online.”

The reports comes as CPP warns those shopping online to ensure they are aware of credit card fraud, by looking for the padlock security sign on websites and making certain they know the website is well-established.

© Adfero Ltd

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