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Couples to Curb Expenditures for Valentine’s Day

ASSOCHAM observes ongoing weak consumer sentiment in India.
Feb 12, 2013 4:56 AM   By Dilipp S Nag
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RAPAPORT... Lovers on this Valentine’s Day in India are likely to curb their expenditures on big-ticket items such as jewelry, a romantic getaway or an expensive designer outfit due to  ongoing weak consumer sentiment, ASSOCHAM projected in its latest survey.

The report noted that even as traditional gifts such as flowers, chocolates, cosmetics and perfumes are leading the Valentine’s Day gift list for a majority of young couples, electronic gadgets such as low-cost tablets, smart phones, iPads and digital cameras are the other most desirable gift options for couples.

The ASSOCHAM conducted a survey of about 750 young couples in the range of 20 to 30 years of age to ascertain their plans for Valentine's Day and how they wished to profess their love.

Of all those surveyed, about 40 percent of respondents said that they were holding the purse strings tight so far as Valentine’s Day spending was concerned and would spend only on traditional gifts. About 30 percent said that they’d prefer to give an electronic gadget to their loved one.

Online spending for flowers is expected to strengthen as many respondents said they would shop online florists, and  browse and compare prices against brick-and-mortar or makeshift flower shops, the survey concluded. Designer clothes, handbags and shoes were significant gift options for about 15 percent of couples.

The survey noted that about half of the respondents said that they did not approve of the gift item given by their partner, but accepted it as a token of love. Many of these said a romantic meal with their significant other was the best part of their Valentine's  Day celebrations.

ASSOCHAM carried out the survey in Ahmedabad, Bangalore, Bhubaneswar, Chandigarh, Chennai, Dehradun, Delhi-NCR, Hyderabad, Jaipur, Jammu, Kolkata, Lucknow, Mumbai, Patna and Pune between November 2012 and January 2013.

The survey noted that an average couple in these centers planned to spend about $28 to $65 (INR 1,500 to INR 3,500) to celebrate Valentine's Day.

Photo source: Patchi
Tags: ASSOCHAM, Dilipp S Nag, Expenditure, India, Jewelry, Online, survey, Valentine, Valentine’s Day, V-Day
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