Tweet: APAC celebrates love w a bite as half of consumers plan to spend #ValentinesDay dining out w loved ones #Mastercard http://news.mstr.cd/2l0bXI6
Singapore – February 13, 2017 – It’s going to be a busy Valentine’s Day. According to the latest Mastercard Consumer Purchasing Priorities Survey, half of people across Asia Pacific plan on marking the day of love by going out for a special meal (48 percent), and treating their loved ones to gifts (44 percent).
People in China are the region’s most ardent lovers, with three in four planning to purchase gifts for their special some-ones. Other amorous countries include Thailand at 74 percent, with Malaysia and Philippines following at 63 percent each.
Besides being busy, this year’s holiday will also be lavish, as people plan to spend on average USD133 on Valentine’s Day gifts for their loved ones. People in Greater China lead the pack, with China (USD310) as the most generous, followed by Hong Kong (USD282) and Taiwan (USD271). Men in Asia Pacific plan to spend around 25 percent more than women on gifts.
Across Asia Pacific, men and women show love differently when choosing gifts to purchase. Men favor flowers as a gift (40 percent), whereas women prefer buying clothes and leather goods (28 percent). Amongst both genders, the top three gifts to purchase are flowers (31 percent), clothes and leather goods (20 percent), and jewelry (17 percent).
Although flowers reign as the gift of choice, according to the second annual global “Mastercard Love Index” – created by analyzing credit, debit and prepaid card transactions over a three-year period – its popularity may not last till next year, as sales of flowers are wilting in Asia Pacific, having seen a 34 percent decrease in transactions between 2014 and 2016.
Meanwhile, people in Asia Pacific still value a personal touch, with 85 percent of transactions around Valentine’s Day made in person. At the same time, the Mastercard Love Index also revealed that technology is helping fire cupid’s arrow with Asia Pacific having seen an 81 percent increase in online sales over the last three years.
Georgette Tan, Senior Vice President, Communications, Asia Pacific, Mastercard said “When it comes to expressing love on Valentine’s Day, Asia Pacific consumers are still sticking to traditional favorites including flowers and going out for a nice meal. Celebrated across cultures, Valentine’s Day continues to be one of the biggest spending days around the world, with young and mature consumers enjoying the merriments associated with this special day.”
While Valentine’s Day may be a day for love, it’s not necessarily one for marriage, as 64 percent of people in Asia Pacific would not consider wedding on the day itself. In contrast, romantics in Vietnam (76 percent), China (68 percent) and Taiwan (51 percent) believe it is the best day to propose or receive a marriage proposal.
|Asia Pacific||Australia||New Zealand||China||Hong Kong||India||Indonesia||Japan||Malaysia||Philippines||Singapore||South Korea||Taiwan||Thailand||Vietnam||Bangladesh||Myanmar||Sri Lanka||Cambodia|
|Plan to buy Valentine’s gift for loved ones (%)|
|Average planned spending on Valentine’s gift (USD)|
|Valentine’s Day is the best day to propose/ receive marriage proposal (%)|
|Plan to buy as a Valentine’s Day gift (%)(|
|Clothes & leather goods||20||11||10||21||25||4||17||15||22||18||28||16||36||18||13||10||33||23||46|
|Chocolate or candy||15||7||16||8||12||19||32||56||9||12||11||48||7||10||22||4||27||10||6|
|High end gadgets||8||9||3||7||11||1||–||2||12||12||9||3||21||5||4||2||14||2||6|
The global “Mastercard Love Index” study analyzed aggregated transaction information made by credit, debit and prepaid cards across pre-selected merchant categories which took place over a three-year period from 2014 to 2016.
Meanwhile, the survey data for Asia Pacific is based on Consumer Purchasing Priorities for the first half of 2017. 9,123 people in 18 markets across Asia Pacific aged 18-64, were asked about their spending plans for Valentine’s Day 2017. The markets included Australia, Bangladesh, Cambodia, China, Hong Kong, India, Indonesia, Japan, Malaysia, Myanmar, New Zealand, Philippines, Singapore, South Korea, Sri Lanka, Taiwan, Thailand and Vietnam. Data collection channels included internet surveys, in-person interviews, as well as telephone interviews, with the questionnaire available in both English and local language, whenever appropriate or necessary. The Index and its accompanying reports do not represent MasterCard’s financial performance.
Mastercard and its Suite of Research Properties
The Mastercard Index suite in Asia Pacific includes the long-running Mastercard Index of Consumer Confidence, as well as the Mastercard Index of Women’s Advancement, Mastercard Index of Financial Literacy, and the Mastercard Index of Global Destination Cities. In addition to the indices, Mastercard’s research properties also include a range of consumer surveys including Online Shopping, Ethical Spending and a series on Consumer Purchasing Priorities (covering Travel, Dining & Entertainment, Education, Money Management, Luxury and General Shopping).
Mastercard (NYSE: MA), www.Mastercard.com, is a technology company in the global payments industry. We operate the world’s fastest payments processing network, connecting consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. Mastercard products and solutions make everyday commerce activities – such as shopping, traveling, running a business and managing finances – easier, more secure and more efficient for everyone. Follow us on Twitter @MastercardAP and @MastercardNews, join the discussion on the Beyond the Transaction Blog and subscribe for the latest news on the Engagement Bureau.
Mastercard Communications Contact
Georgette Tan, +65 6390 5971
Samantha Yong, +65 6825 8053
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