Indian youth spend Rs 1,200 cr on Valentine's Day

New Delhi, Feb 15 (UNI) Indian youth spent over Rs 1,200 crore on goodies this Valentine's Day, marking a growth of 20-25 per cent over the last year.

The United States accounts for sales over 14 billion dollars on the day, a research done by AbsolutData Research and Analytics said today.

The survey provides insights into the way young Indians perceive this occasion and suggested that with nearly 70 per cent of the urban youth celebrating the day, Valentine's Day enjoys great social acceptance as compared to earlier times.

''Valentine's Day is increasingly becoming an accepted part of Indian celebrations. Our research clearly shows that the youth are increasing their participation and spending on this occasion,'' AbsolutData Research and Analytics CEO Anil Kaul said.

There has been a drastic change in spending patterns with more than 50 per cent increase in the average spend this season compared to last year.

Flowers and cards are the clear choices when it comes to gifting loved ones and interestingly men have taken the lead in shopping by spending 20 per cent more as compared to women, Mr Kaul said.

The research reveals that chocolates, cakes and jewellery are also stacking up on popularity as are trips to exotic locations and romantic dinners.

Valentine's Day is a large contributor to the increasing wallet share of online gift purchases. As part of this trend, both traditional gift shops as well as online retailers are cashing in as never before and this trend is only on the upswing.

AbsolutData Research and Analytics is a professional services firm that provides advanced analytics and market research services to its global clients.

UNI