Mastercard #LoveIndex reveals romantic spending habits

Sentimental spending increased by 19% since 2015 in Europe, according to new findings from Mastercard, with the overall number of transactions up by 39%.

Mastercard’s 2018 ‘Love Index’ also reveals that spending on flowers has increased in Europe by 29% from 2015, whereas jewelry spending has decreased by 5%.

The infographic reveals Asia Pacific sentimental spending habits.

Across Asia Pacific, dinner dates remain the most popular way to say “I-Love-You”, consuming a 69% share of spend and nearly a third of transactions in 2017.

Although the stomach may be the quickest way to a loved one’s heart, it isn’t the only one. Jetting off for Valentine’s Day (via plane or train) also saw a significant rise as the number of transactions increased by 17% in 2017, accounting for 21% of total spend over the most romantic time of the year.

Indulging in a hotel stay remains a firm favorite with a 34% share of spend, but couples who prefer nesting at home aren’t alone. Mastercard’s research found that nearly 1 in 3 people celebrated this holiday with a quiet, but romantic night in.

Though it is the thought (and experience) that counts in love, material gifts are always appreciated. Mastercard’s research showed that 42% of people planned to buy a present for their loved ones. Consumers in Philippines (71%) and Thailand (71%) are the region’s most enthusiastic givers, followed by China at 63% and Singaporeans at 59 percent. Traditional treats like flowers and jewelry have been the gifts of choice since 2015, as overall spend bloomed by 39% and 21% respectively.

“Whether it’s a small, sweet gesture or a sumptuous surprise for that special someone, consumers in Asia Pacific are feeling the love and spending more than ever before.” Rustom Dastoor, Senior Vice President, Marketing and Communications, Asia Pacific, Mastercard, said. “The proof is in the purchase, as Valentine’s Day continues to be one of the most popular spending periods of the year.”

“Now in its third year, our Mastercard Love Index offers retailers priceless insights into how customers want to enjoy the most romantic day of the year. These insights, coupled with world-class technologies, enable us to co-create priceless experiences with cardholders and the people they care about most.”

Check out the ‘Love Index’ below (click the image to enlarge).

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