New Delhi: Consumer spending will be high on dining this Valentine's Day as more than half the people surveyed will go out for a meal, says a study.
According to the latest Mastercard Consumer Purchasing Priorities Survey, more than half of Indian consumers plan to go out for a meal on Valentine's Day (55 per cent), and more than a third plan to spend time with their loved ones by going to the movies (42 per cent). The Mastercard survey throws light on spending patterns that are expected this Valentine's Day.
Among the Indian consumers surveyed, a fifth (21 per cent) plan to buy a gift for their loved ones on Valentine’s Day, on an average spending close to Rs 1,500.
Indian consumers prefer to play it safe with their choice of gifts with the favourites being flowers (39 per cent), followed by cards (22 per cent) and chocolates (19 per cent), while some other options include jewellery, clothes, leather goods and high-end gadgets. "When it comes to expressing love on Valentine's Day, Asia Pacific consumers including India are still sticking to traditional favourites including flowers and going out for a nice meal. Celebrated across cultures, Valentine's Day continues to be one of the biggest spending days around the world, with young and mature consumers enjoying the merriments associated with this special day," Mastercard Asia Pacific Senior Vice President Communications Georgette Tan said.
The survey data for Asia Pacific is based on Consumer Purchasing Priorities for the first half of 2017 with 9,123 people in 18 markets across Asia Pacific aged 18-64, were asked about their spending plans for Valentine's Day, 2017. The markets included Australia, Bangladesh, Cambodia, China, Hong Kong, India, Indonesia, Japan, Malaysia, Myanmar, New Zealand, Philippines, Singapore, South Korea, Sri Lanka, Taiwan, Thailand and Vietnam.