Whether you're one of those cynics who thinks Valentine's Day is just a day ginned up by the card, flower, and jewelry industries, or a hopeless romantic; you’ll be surprised to see how much people spend on V-Day and who spends the most!
CashKaro.com held a magnifying glass up to see the true cost of romance and measure how much people spend on Valentine’s Day. The survey had over 2000 participants, of which 53% were men and 47% were women.
Roughly 78% people who are dating, engaged or married celebrate Valentine’s Day, although married couples have less of an appetite for flowers and sweet nothings. People in relationships tend to spend more with an average spend of Rs 1500-3000 on Valentine’s Day gifts.
Young adults are more likely to splurge on their “baes”. Almost 40% respondents under 16-24 years of age spend an average of Rs 2000, or about Rs 500 more than other respondents overall. That could be because they’re more likely to be in the head-over-heels phase of a new relationship! On the other hand nearly 50% married people said they’ll just spend their Valentine’s Day with a cozy candle lit dinner date.
Interestingly, 49% of respondents think men should pay for the Valentine’s date, out of which more men than women believe this to be true. Also, out of the total respondents, almost 79% of them feel giving a gift on Valentines is very important. While only 19% shop for gifts offline, 94% feel it is always smart to buy gifts on discounts. Therefore, 78% of the total respondents actually like to wait for online sales before buying gifts.
Commenting on the survey, Swati Bhargava, Co-Founder, CashKaro.com said, “It’s that time of the year when people are on the lookout for special gifts for their loved ones. Through this survey, we have tried to figure out the spending behavior that emerges when people think of ideas to make this day more special. While Valentine's Day creates pressure to spend a lot of money, shoppers can expect huge discounts and cashback offers on everything from flowers, customized gifts, jewelry to date night dinner packages in the coming days, giving them plenty of amazing options without burning a hole in their pockets.”
The survey was conducted at a pan-India level and saw a participation of over 2,000 people. The respondents were from Tier I, II and III cities. People aged 18-30 years formed 70% of the respondents.