Men now cutting back on Valentine's Day gifts

WOMEN expecting to be showered with gifts on Valentine's Day should think again.

The tradition of exchanging presents on 14 February appears to be on the wane, with men cutting back on their spending.

Men's Valentine's Day gift-buying fell by 25 per cent last year on 2009, with the trend set to continue this year, according to research.

Just over 11 million romantic gifts were bought by both men and women last year, 16 per cent fewer than in 2009, continuing a decline which began in 2008. But men in particular appear to be losing their enthusiasm for the event, buying 2.3 million fewer gifts in 2010 than in 2009.

Men account for more than two thirds of the Valentine's Day gifting market, according to a study by Kantar Worldpanel GiftTrak.

A spokesman said this Valentine's Day could get a boost from being on a Monday. "The fact that it fell on a Sunday last year contributed to the decline in gift purchasing, as more partners may have prepared treats such as breakfast in bed instead."