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Wellington – February 14, 2017 – Kiwi men are planning to spend a third more on their partners than women, according to Mastercard’s latest Consumer Purchasing Priorities Survey on Valentine’s Day.
Men will spend on average $157, compared to $103 for women, and over a third of people overall plan to treat their partner to something special on Valentine’s Day.
Throughout the Asia Pacific region, men are bigger spenders with a planned average spend on gifts 25 percent higher than women.
The annual “Mastercard Love Index”, created by analysing credit, debit and prepaid card transactions over a three-year period, has revealed that in New Zealand sentimental spending has increased by 17% since 2014, with the overall number of transactions up by 59%.
Flowers are the gift of choice for men with almost half of Kiwi blokes planning to treat their partner to a bouquet (48 percent).
For women, a simple card is the most popular gift (35 percent), followed by chocolate or lollies (26 percent). Women remain hesitant to buy flowers on Valentine’s Day for their loved one, with only 1 in 10 looking to purchase flowers.
“When it comes to Valentine’s Day, Kiwis are sticking to traditional favourites including flowers and going out for a meal. The popularity of these gifts shows that Kiwis appreciate classic gestures,” says Peter Chisnall, Country Manager for Mastercard New Zealand and Pacific Islands.
The majority of people surveyed would rather spend time at home given the holiday is mid-week (61 percent), while a third of New Zealanders will treat themselves to a restaurant meal on Valentine’s Day (33 percent).
The Mastercard data also showed the majority of Valentine’s purchases happen during the last minute dash on February 13th.
“Valentine’s Day is an opportunity for both young and old to show their loved ones they care. People picking up something in the last minute dash can take advantage of Tap and Go to further speed up the process when picking up a gift on the day,” adds Chisnall.
The survey found that 86 percent of New Zealanders do not think Valentine’s Day is the best day for a proposal, compared to the majority of consumers in Vietnam (76 percent), China (68 percent) and Taiwan (51 percent) who believe it is the best day to propose or receive a marriage proposal.
The data is based on the Mastercard survey 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 @MastercardNZ, join the discussion on the Beyond the Transaction Blog and subscribe for the latest news on the Engagement Bureau.
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