With less than 24 hours to Valentine’s Day, Nigerians are set to splurge, with nearly 80% of consumers planning to invest in food and perfumes, according to a recent report by SBM Intelligence.
The 2025 survey, titled “Love in the Air,” highlights a notable shift in consumer behaviour, emphasising experiences over traditional gifts.
The report states, “Almost 80% of Nigerians will spend on food and perfumes this Valentine’s.” While perfumes and dining dominate spending, other gifts like jewellery (28.2%), roses (23.9%), and watches (23.4%) still hold appeal. However, the trend towards experiential celebrations is evident, with dining out and entertainment gaining traction.
Notably, 85.6% of Nigerians intend to celebrate this year, a significant rise from 62.8% in 2024. “There’s a strong desire for memorable experiences,” the report emphasizes. Also, 33% of consumers are budgeting between N51,000 and N100,000, indicating a surge in high-end spending, with luxury purchases nearly tripling compared to last year.
While traditional shopping venues like department stores (31.8%) and malls (30.3%) remain popular, e-commerce is on the rise, with 18.4% of shoppers opting for online purchases. Restaurants lead as the preferred celebration spot, with 27% planning a dinner out, followed by cinemas (20%) and hotels (11%).
Retailers are encouraged to leverage this trend by offering bundles, flash sales, and tailored promotions to attract both early planners and last-minute shoppers.
