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Inflation failed to dampen Valentine’s Day card spending last month


  • BOIPA conducted an analysis of businesses in the hospitality, florist and jewellery sector, comparing card activity on both Valentine’s Weekend (Feb 10th – Feb 12th)and Valentine’s Day this year to 2022.
  • BOIPA’s analysis found YoY transaction volumes from card sales had increased collectively within the hospitality sector by a third across Valentine’s Weekend.
  • Florists and Jewellers also recorded increases in card transactions on Valentine’s Day this year compared to 2022.
  • BOIPA’s General Manager, Conor Quirke notes how the analysis highlighted the “Irish consumer’s spending resilience despite current cost of living concerns.”


Valentine’s Day Card Spending Key Insights

Couples wine and dine on Valentine’s Weekend

BOIPA’s analysis from Valentine’s Weekend noted a significant increase in card transactions across pubs and restaurants, compared to 2022. While card spending across these sectors collectively rose by just over 33%, pubs and clubs noted the largest jump with 70% higher spending coming from card sales this year.

Selected Valentine’s Weekend Trends (Hospitality)
Sector Average Transaction Value from card spending (€)
Pubs / Bars / Nightclubs 22
Eating out 30.1
Fast Food / Takeaway 17.4

Wedding Bells on the Horizon?

Sales volumes in Jewellers grew by 7.5% on Valentine’s weekend with the average transaction jumping from €185 to €282, perhaps indicating a potential Irish wedding boon over the coming 12 – 18 months. Customers spent the same amount on average in Jeweller’s on Valentine’s Day itself.

Budding romantics say it with flowers on Valentine’s Day

Florists were the big winners on the day itself with BOIPA’s research noting that Irish consumers spent over 3 times more on flowers this year on Feb 14th. In the week leading up to Valentine’s Day the ATV from sales in florists was €54.3.

Card spending indicates healthy consumer sentiment despite global economic uncertainties

Commenting on the analysis, Conor Quirke, General Manager, BOIPA noted how the payment analysis both highlighted Irish consumers and businesses resilient outlook despite macroeconomic concerns.

“It’s our first opportunity to offer this kind of annual comparison with lockdowns fully ending before Valentine’s Day last year. While an increase in card transactions is not unexpected, it’s interesting to see Irish consumers’ spending resilience given the current cost of living crisis.”

“ATV’s from card sales are up and, while rising costs and inflation may account for part of that, this payment snapshot highlights a resilient consumer sentiment and confirms that shoppers are opting for card with the more expensive purchases you’d expect to be made on special occasions like Valentine’s Day.”

Quirke also predicted that businesses will see more card usage in-store with shoppers becoming more accustomed to paying with their phones and wearable devices.

“Consumers’ growing awareness that there is no contactless limit when using their mobile phone and Apple or Android watch, given the built in security features, is supporting this. The convenience and security this payment type offers makes it a win-win for businesses and their customers.”


Note: BOI Payment Acceptance (BOIPA) is a marketing alliance between the Bank of Ireland and EVO Payments International. It brings together Bank of Ireland’s understanding of what Irish businesses need and EVO’s expertise in creating innovative payment solutions.