The on-going weak consumer sentiment may translate into lower spends by lovers this Valentine’s Day. Cupid's arrows may strike the right spot but are unlikely to make them loosen their purse strings. According to a survey conducted by industry body Assocham, the expenditure of lovers on big-ticket items like jewellery, a romantic getaway or an expensive designer outfit is not on the cards for many.
Even as traditional things like flowers, chocolates, cosmetics and perfumes are leading the Valentine’s Day gift list for majority of young couples, electronic gadgets like low-cost tablets, smart phones, Ipods and digital cameras are other most desirable gift options for couples this V-day, the survey said.
The survey which was conducted in about 750 young couples in the age group of 20-30 years to ascertain their plans on the V-Day and how do they wish to profess their love carried out by the Assocham Social Development Foundation (ASDF). The survey was carried out in the cities of Ahmedabad, Bangalore, Bhubaneswar, Chandigarh, Chennai, Dehradun, Delhi-NCR, Hyderabad, Jaipur, Jammu, Kolkata, Lucknow, Mumbai, Patna and Pune.
Of the total about 40% respondents said they are holding the purse strings tight so far as Valentine’s Day spending is concerned and will spend only on traditional gifts while about 30% said they’d prefer to gift an electronic gadget to their love one. According to the Assocham survey an average couple at the aforesaid urban centre would spend about Rs 1,500-3,500 to celebrate the V-day
Online spending on flowers is expected to strengthen as many respondents said they would log onto online flower retailers, where they can browse and compare prices against brick-and-mortar, makeshift flower shops, highlights the Assocham survey.
Besides, designer clothes, handbags and shoes are significant gift options for about 15% couples. Interestingly, of all the respondents, about half said they do not approve of the gift item given by their partner but accept it as a token of love from their spouse.
