This Valentine’s Day, it is more likely to be a rose than a piece of jewellery or a designer outfit. With economic uncertainty in the air, most people are holding the purse string tight however much the heart strings may tug otherwise. Head is set to rule.
According to a recent month-long survey by apex industry body Assocham, weak consumer sentiment will curb Valentine Day spending on big-ticket items such as jewellery, a romantic getaway or an expensive designer outfit.
The traditional flowers, chocolates, cosmetics and perfumes are leading the Valentine’s Day gift list, while electronic gadgets such as low-cost tablets, smartphones, iPpods and digital cameras take the back seat.
The survey, carried out by the Assocham Social Development Foundation (ASDF), covered about 750 couples in the age group of 20-30 years, to ascertain their V-Day plans. It was carried out in Ahmedabad, Bangalore, Bhubaneswar, Chandigarh, Chennai, Dehra Dun, Delhi-NCR, Hyderabad, Jaipur, Jammu, Kolkata, Lucknow, Mumbai, Patna, and Pune between November and January.
About 40 per cent respondents said theywill spend only on traditional gifts, while about 30 per cent said they would gift an electronic gadget to their loved one.
Online spending on flowers is expected to rise as many respondents said they can browse and compare prices vis-a-vis brick-and-mortar flower shops.
Designer clothes, handbags and shoes are the top options for about 15 per cent of the couples.
Since, this year the V-day falls on a weekday, many said they would catch an evening movie followed by dinner.
Interestingly, about half the respondents said they do not approve of Valentine gifts but accept it as a token of love from their significant other. Many say a romantic dinner is the best part of V-day.
According to the Assocham survey, an average couple would spend Rs 1,500-3,500 on V-day.
Half the respondents said they do not approve of Valentine gifts, but accept them as a token of love