KUALA LUMPUR, Feb 14 — Almost one in three would-be Valentine’s Day gift buyers will only do so today, if the findings of a recent survey are anything to go by.
According to the annual Mastercard Love Index released this week, 28 per cent of those shopping for their loved ones’ presents only do so on Valentine’s Day itself and have done so for the past three years.
You’re also more likely to do it in person, with over two in three making their purchases physically.
While online shopping for Valentine’s has increased by 55 per cent since 2016, this category still accounts for just 19 per cent of gifts bought for the Day of Love.
The survey showed the value of overall spending rose by nearly a quarter since 2016, but it did not state if this was due to larger purchases or just inflation.
The purchase of flowers — that staple of Valentine’s — has more than doubled since 2016, as has spending on jewellery and hotels (wink, wink) by an unspecified proportion.
The annual “Mastercard Love Index” analysed credit, debit and prepaid card transactions from 2016 to 2018 for the findings.
Sentimental spending represents all spending during this Valentine’s Day period in the following categories: restaurants, hotels, transportation, books and records, jewellery and stationery.
Other significant findings of the survey include a 286 per cent increase in the use of contactless payment since last year for purchases that were three times greater in total value.