LIMA, Peru – Valentine's Day is a significant date for retailers in Peru, and this year is no exception. The Lima Chamber of Commerce (CCL) projects that retail sales for the holiday, celebrated on February 14th, will grow by 6%, reaching an estimated 612 million soles (approximately $165 million USD).

"This figure exceeds our initial projections of 5% growth and surpasses the performance of the same period in 2024," said Leslie Pasalacqua, president of the Retail and Distribution Guild of the CCL. "This strong sales performance will boost total retail sales for February, which are expected to reach around 1.6 billion soles ($432 million USD)."

Factors Driving Growth

Pasalacqua explained that the projections are based on three key factors:

Expansion of shopping centers: The growth in retail space offers a wider variety of products and services.
Summer weather: The warm weather encourages consumer spending.
Diversification of the Valentine's Day campaign: The holiday is no longer just for couples, but also for friends and families.

Increased Spending per Person

The average spending per person is estimated to be between 200 and 280 soles ($54 to $76 USD), an increase from last year's range of 190 to 250 soles ($51 to $68 USD).

"This increase of 5.26% and 12%, respectively, is significant for retailers, as it reflects a greater willingness to spend during this campaign," Pasalacqua noted.

Traditional Gifts Remain Popular, but Experiences Are Gaining Traction

Traditional gifts like chocolates and flowers remain popular choices for Valentine's Day. However, there is a growing demand for experiences and entertainment, such as restaurant reservations, movie or theater tickets, and adventure activities, particularly those booked through digital platforms.

E-commerce Sales Expected to Surge

E-commerce in Peru accounts for between 8% and 10% of total retail sales and continues to grow annually. Pasalacqua estimates that online sales for Valentine's Day will show a growth of 10% to 15% compared to 2024.

This surge is attributed to increased preference for online shopping, greater diversification of product categories, and more personalized marketing strategies based on artificial intelligence and data analysis.

Overall, the Valentine's Day season in Peru is expected to be a boon for retailers, with strong growth in both traditional and online sales channels.