One South African spent R5.5 million on a Valentine’s Day gift

A Standard Bank client spent R5.5 million on a single gift purchased at a jewellery store in Paris for Valentine’s Day. 

This is far higher than the most expensive purchase made in South Africa, which came in at R475,000 at a jewellery store in Sandton. However, this is still far above the average spend of R411 in South Africa. 

This is feedback from Standard Bank’s head of credit, Tumelo Ramugondo, who revealed that spending increased markedly year-on-year.  

Data from Standard Bank shows a double-digit increase in shopping activities on Valentine’s weekend compared to the prior year. 

Ramugondo explained that this was largely due to it falling on a Friday, with Valentine’s Day spending turning into a weekend-long event rather than a once-off. 

This resulted in much higher spending compared to previous years when Valentine’s Day fell during the work week. 

The increased spending was also boosted by much lower inflation and interest rates compared to a year ago, which freed up significant disposable income. 

Although much more difficult to measure, access to retirement savings through the two-pot system may have also boosted spending. 

South Africans spent heavily at jewellery stores, luxury goods retailers, spas and salons, and restaurants, which saw the biggest boost.

Looking specifically at spending over the Valentine’s weekend from Friday to Sunday, 2025 volumes and values were 12% higher than in 2024 and 25% higher than in 2023. 

However, the average transaction value for 2025 was R411, slightly lower than in previous years, reflecting a shift in purchasing habits.  

“While customers spent more overall, many opted for lower-ticket value items. But there were some eye-popping transactions that showed that some people took gifting very seriously during this time,” Ramugondo said.

For example, one client spent R475,000 on a single purchase at a jewellery store in Sandton for Valentine’s Day. 

Spending at jewellery stores more than doubled year-on-year, growing by 154%, with the average spend on luxury goods rising to R2,000.

South Africans also expressed their desire to eat out, with a 43% increase in spend at restaurants.

The traditional Valentine’s Day gift of flowers was not overlooked, with clients spending an average of R700 at florists over the weekend.

Spas and salons also grew in popularity, with spending rising by 48% at these locations.

The highest-priced gift internationally was R5.5 million at a jewellery store in Paris. The bank reported that both this purchase and the R475,000 one in Sandton were made by males.

This year, men spent an average of R386 per transaction, compared to women’s average of R357.

The highest spend on a gift by a female customer was R52,500 at a luxury fashion house.