As Valentine’s Day approaches, a recent study conducted by Dot.vu, an interactive content platform, sheds light on the prevailing trends in gift-giving for the romantic occasion. According to the study, jewellery emerges as the frontrunner, commanding nearly 30% of all purchases made on Valentine’s Day.
The breakdown of the average Valentine’s Day shopping budget unveils six key sectors that dominate expenditures. Jewellery leads the pack with a substantial share of 29.2%, underscoring its enduring popularity as a symbol of love and affection. Following closely behind are flowers and candy, constituting 21.2% of the budget, while dining out accounts for 20.3%.
The allure of purchasing clothing as a Valentine’s Day gift also remains strong, with this sector claiming 13.7% of the average budget. Meanwhile, gift certificates and greeting cards round out the list, capturing 10.8% and 4.7% of spending, respectively.
In parallel, insights from a 2022 survey conducted by India Gifts Portal reveal intriguing trends in Valentine’s Day shopping habits among Indian consumers. Men, it appears, outnumber women in the pursuit of the perfect gift, with the average ticket price resting at ₹1000. Notably, online searches for “best small Valentine’s gifts for her” underscore the quest for thoughtful and intimate gestures.
Across the pond in the United States, projections for Valentine’s Day spending in 2024 are staggering. News9Live, citing a Forbes report, anticipates total expenditures to surpass a whopping $25.8 billion – a figure rivaling the economy of Iceland. With nearly 40% of consumers expected to opt for online shopping, the digital sphere is poised for a substantial influx of Valentine’s Day commerce.
Furthermore, the distribution of spending is anticipated to prioritize partners, accounting for approximately 55% of the budget. However, friends, colleagues, and even beloved pets are not left out, as the remaining 45% of expenditures are earmarked for sharing affection beyond romantic relationships.
As Cupid’s arrow takes aim, these insights offer a glimpse into the evolving landscape of Valentine’s Day celebrations, where gestures of love and appreciation span a diverse array of gifts and experiences.
