Valentine’s Day is a physical thing…when it comes to shopping that is
February 11 2016 - 1:00AM
Business Wire
The “MasterCard Valentine’s Day Index”
highlights shoppers are getting physical, preferring personal
purchases and experiences when it comes to buying for a loved
one
The move to digital and online shopping shows no sign of slowing
down, but when it comes to love, shoppers want to get physical.
Today, new insights revealed that when it comes to expressing love,
shoppers across the globe prefer the personal touch by picking out
presents in store for their Valentine.
The “MasterCard Valentine’s Day Index” showcases global shopper
behavior in more than 200 countries around the world by analyzing
credit, debit and prepaid card transactions on February 11-14 in
2013, 2014 and 2015. The Index not only looked at the volume of
spending and the amount spent, but also the types of retailers
typically associated with Valentine’s Day.
During the three-year period, overall consumer spending in the
build-up to Valentine’s Day increased by an average of 22 percent,
with many people moving away from gifts and grand gestures in the
pursuit of experiences and the creation of memories.
“Where you live can have a big impact on how you shop or the
experiences and memories you look to create. These insights on
global and regional purchasing trends can help retailers and other
merchants put a little more Priceless in Valentine’s Day
celebrations, while strengthening relationships with their
customers,” commented Max Chion, executive vice president, global
acceptance products for MasterCard.
The study identified some other purchasing trends, highlighting
some notable differences around the globe:
- The personal touch: Globally, 90
percent of transactions were made in person, whereas only 6 percent
were online. Europeans made the most of buying online with over a
fifth (21 percent) of transactions taking place via the
internet.
- Experiences over physical items:
Spending patterns across the globe show an increasing number of
people are treating their loved ones to meals in restaurants (33
percent) and hotel stays (28 percent). Shoppers in Latin America
(54 percent) and the United States (38 percent) saw the majority of
transactions in their regions at restaurants, while the Asia
Pacific, Europe and Middle East regions preferred to get away from
it all by prioritizing hotel stays.
- Still saying it with flowers: In
general, there was a slight decline in the sale of flowers and
cards during the three years. However, Latin Americans are bucking
this trend by almost doubling their spending on flowers (92
percent) during this period, whereas the Middle East was the only
region to show an increase in purchases of cards, and by a
significant amount of 107 percent too.
Global Valentine’s Day spending
patterns by region:
KEY SPENDING PATTERNS PER REGION DURING VALENTINE’S DAY
PERIOD
United States
- Food is the most important aspect of Valentine’s Day,
with 38% of spending made at restaurants, an increase of 66% during
this period
- Spending on physical items such as flowers (-17%) and cards
(-14%) has decreased
- Spending has increased by 28% with 64% of transactions
being made in-person
Latin America
- Romance is on the rise with an increase in spending on
flowers (+92%) and jewelry (+67%)
- By percentage, Latin Americans are spending more on
restaurants than any region (54%)
- Valentine’s Day spending has increased by 25% during
this period
Europe
- Spending more on accommodations (33%) and food (25%),
with purchases in restaurants up 53% in this period
- Valentine’s Day spending is up 14%
- 21% of transactions online saw Europe as the region
making most purchases via the internet. 66% were made
in-person
Middle East
- More likely to spend money on Jewelry (23%) than any
other region
- Travel spending is on the rise with 43% of transactions
being made on hotels, an increase of 51%
- Only region to see an increase in Valentine’s Day card
purchases (107%)
Asia and the Pacific Rim
- More spending on experiences such as hotels (36%) and
restaurants (24%), less on “physical items” including Flowers (2%)
and cards (2%)
- 84% of transactions were made in-person over 10%
online
- Valentine’s Day spending is up 23% during this
period
Canada
- Canadians most likely to spend their money on
transportation (35%) an increase of 9%
- Only 4% of spending went on flowers, 34% down from 2013
to 2015
- 54% of transactions made in-person verses 18% online and
28% when the cardholder wasn’t present
About the MasterCard Valentine’s Day Index
The study analyzed aggregated transaction information made by
credit, debit and prepaid cards across pre-selected merchant
categories over a three-year period – February 11-14 in 2013, 2014
and 2015.
About MasterCard
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’s 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
@MasterCardNews, join the discussion on the Beyond the Transaction
Blog and subscribe for the latest news on the Engagement
Bureau.
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MasterCardSeth Eisen, 914-249-3153seth.eisen@mastercard.com
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