Indians spends over 12,000 crore (US$ 2.6 billion) on Valentine Day
When Valentine's fever first struck India, it did result in a retail frenzy, but who'd have thought it would reach a whopping `12,000 crore? The aim of the study (done by ASSOCHAM Social Development Foundation (ASDF) from December 2010-January 2011) was to ascertain the extent of over-spending among lovers to make their loved ones feel special. And it seems that love birds splurge on Valentine's Day like there's no tomorrow.
Says DS Rawat, secretary general, ASSOCHAM, "Owing to the increased spending power of individuals, the youth is gung-ho about breaking all records, as they are spending almost over 120 % as compared to the previous year."
Week Celebrations, Strong Profits
It's not just a single day anymore. The 'festival' is now celebrated throughout the week, right from February 7 (Rose Day), February 8 (Propose Day), February 9 (Chocolate Day), February 10 ( Teddy Day), February 11 (Promise Day), February 12 (Kiss Day), February 13 (Hug Day) to finally, February 14 as Valentine's Day. Says Gautam Grover, 26, "We are supposed to make our girlfriends feel special the whole week. During this week, even a small bouquet for Rose Day cost me a 1000 bucks, and I spent `2000 for a chocolate hamper on Chocolate Day. But for Valentine's Day, it ought to be big, so I have booked a 2-day stay in a five-star hotel, for which I have doled out `12,000."
Kyun Paisa Paisa Karti Hai
Post the interaction with 1200 young officers, executives, professionals and students from various corporate organisations, schools and colleges in ten major cities (Delhi, Mumbai, Bangalore, Chennai, Kolkata, Chandigarh, Hyderabad, Pune, Lucknow and Jaipur), the survey claims that compulsive shoppers are ready to shell out big money to express their sentiments and better their bond with their special someone. According to their feedback, their expenses on Valentine's Day alone are likely to fall anywhere between `5000-1,50,000, depending on their individual capability to spend. For Delhi University student Ritesh Verma, the V-Day budget is `8,000, owing to "Not only the splurging on the basic stuff (chocolates, flowers, soft toys, dinner) but also gifting her a makeover." And for IT professional Neeraj Gulati, it is a "high-end smartphone and an evening gown for his fiancee."
Valentine's Day is indeed a big deal! - The Times of India
When Valentine's fever first struck India, it did result in a retail frenzy, but who'd have thought it would reach a whopping `12,000 crore? The aim of the study (done by ASSOCHAM Social Development Foundation (ASDF) from December 2010-January 2011) was to ascertain the extent of over-spending among lovers to make their loved ones feel special. And it seems that love birds splurge on Valentine's Day like there's no tomorrow.
Says DS Rawat, secretary general, ASSOCHAM, "Owing to the increased spending power of individuals, the youth is gung-ho about breaking all records, as they are spending almost over 120 % as compared to the previous year."
Week Celebrations, Strong Profits
It's not just a single day anymore. The 'festival' is now celebrated throughout the week, right from February 7 (Rose Day), February 8 (Propose Day), February 9 (Chocolate Day), February 10 ( Teddy Day), February 11 (Promise Day), February 12 (Kiss Day), February 13 (Hug Day) to finally, February 14 as Valentine's Day. Says Gautam Grover, 26, "We are supposed to make our girlfriends feel special the whole week. During this week, even a small bouquet for Rose Day cost me a 1000 bucks, and I spent `2000 for a chocolate hamper on Chocolate Day. But for Valentine's Day, it ought to be big, so I have booked a 2-day stay in a five-star hotel, for which I have doled out `12,000."
Kyun Paisa Paisa Karti Hai
Post the interaction with 1200 young officers, executives, professionals and students from various corporate organisations, schools and colleges in ten major cities (Delhi, Mumbai, Bangalore, Chennai, Kolkata, Chandigarh, Hyderabad, Pune, Lucknow and Jaipur), the survey claims that compulsive shoppers are ready to shell out big money to express their sentiments and better their bond with their special someone. According to their feedback, their expenses on Valentine's Day alone are likely to fall anywhere between `5000-1,50,000, depending on their individual capability to spend. For Delhi University student Ritesh Verma, the V-Day budget is `8,000, owing to "Not only the splurging on the basic stuff (chocolates, flowers, soft toys, dinner) but also gifting her a makeover." And for IT professional Neeraj Gulati, it is a "high-end smartphone and an evening gown for his fiancee."
Valentine's Day is indeed a big deal! - The Times of India
