Americans will spend a whopping $18.2 billion on Valentine's Day
- Author: Zachary Reyes Feb 14, 2017,
Feb 14, 2017, 3:39
A poll of 336 Global Positioning System and consultants across the United Kingdom found that 9% had received a Valentine's Day card or gift during their careers.
Love and cash are in the air on Tuesday as the city celebrates Valentine's Day with the second most generous couples in the region spending on average HK$2,200.
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. Approximately 45-percent of those polled say they'll spend Valentine's Day at home.
"Fewer than half of the North West's respondents described themselves as romantic and only 28% are planning on buying any gift at all, however the average predicted spend will still rise by around 27%".
The annual "Mastercard Love Index", created by analysing credit, debit and prepaid card transactions in a three-year period, has revealed that Kiwis' sentimental spending has increased by 17 per cent since 2014, with the overall number of transactions going up by 59 per cent. This is because people tend to place last-minute requests when Valentine's Day falls on a weekday, he added.
For Kiwi men, flowers are the gift of choice for their partner, with nearly half of men surveyed planning to treat their significant other to a bouquet.
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.
The Mastercard data also showed the majority of Valentine's purchases happen during the last minute dash on February 13th.
The survey found that 86 percent of New Zealanders do not think Valentine's Day is the best day for a proposal, compared to the majority of consumers in Vietnam (76 percent), China (68 percent) and Taiwan (51 percent) who believe it is the best day to propose or receive a marriage proposal.