Asda is selling a 96p engagement ring for Valentine’s Day – and it says a lot about UK shoppers at the start of 2026
Asda has unveiled a series of Valentine’s Day promotions aimed at budget-conscious shoppers, focusing on undercutting the usual price of traditionally costly gifts.
The most eye-catching offering is a 96p ‘Diamond’ Engagement Ring. While clearly intended as a novelty, it also serves as a marketing play designed to resonate with shoppers navigating ongoing cost-of-living pressures.
“Look, we know a 96p ring isn’t going to end up in a museum, but who expects to find this kind of carat in a supermarket?” said Jade Cooper, Asda’s Valentine’s Buyer. “We see it as a placeholder, a promise, or a very shiny way to say you don’t need to put a price on love. After all, it’s the thought – and the 4p change – that counts.”
More conventionally, the retailer has also announced a Valentine’s Day dine-in deal priced at £12. The offer includes one starter, one main, two sides, one dessert, and a drink, with alcoholic and non-alcoholic options available.
Alongside in-store promotions, Asda is also leaning on social media attention and discounted products to generate interest.
The group has announced what it says is the lowest-ever price for its Screaming Devil wine — a ‘dupe’ that attracted widespread attention last year due to its similarity to premium brand Whispering Angel.
“After months of attention across TikTok, Instagram and national media, Screaming Devil became a firm favourite among shoppers looking for a premium-style product at a lower price,” the retailer said.
Discounts after a disappointing Christmas
Asda’s push comes as UK retailers lean heavily on discounts to drive footfall after a weak end to 2025, with fresh data suggesting promotional activity is doing much of the heavy lifting.
Total retail sales in discretionary categories (fashion, homewares and lifestyle) grew by just +1.7% in January, compared to the same month last year, according to the latest High Street Sales Tracker from accountancy and business advisory firm BDO.
This is significantly below the rate of inflation, reflecting a fall in sales volumes compared to January 2025.
Following a very disappointing end to the Golden Quarter, when in-store sales fell by -0.5% in December, January saw sales on the high street grow by +4.7%, driven primarily by heavy discounting after Christmas and in the new year sales.
This discounting propped up sales growth in the early part of the month, but total sales, in-store and online, fell in the final two weeks of January, BDo said.
This set of results also marks the ninth time in the last twelve months that total sales grew below the rate of inflation, a reflection of long-term difficult trading conditions for the sector.
“On the surface these results might look like cause for cautious optimism: high street sales up above the rate of inflation, and total sales also ticking up. But looking closer, it’s clear that after a very disappointing Christmas, when sales fell online and in-store, the trading environment for retailers has hardly improved in the new year,” said Sophie Michael, Head of Retail and Wholesale at BDO.
“We saw very high levels of discounting immediately after Christmas and the first week of January, which has almost entirely driven the growth in sales recorded this month.”
She notes that retailers were likely left with high levels of stock after disappointing sales in December, with promotional activity reflecting their efforts to clear storerooms and shops for new and fresh lines to create essential cash flow.
Unfortunately, this discounting is likely to erode paper-thin margins even further, she said.
“As February approaches, retailers are poised to tread carefully amidst an uncertain landscape for both consumers and businesses. The lack of clear direction regarding future economic conditions, coupled with the unsettling backdrop of rising unemployment and diminishing disposable income, presents a significant challenge.
“In such a climate, encouraging consumers to engage in discretionary spending will require substantial effort and strategic initiatives. Retailers must navigate these turbulent times with innovative approaches to stimulate consumer confidence and spending, while at the same time remaining nimble and agile enough to adapt to changing behaviours and further economic headwinds.”
