CashKaro.com, one of India’s largest Cashback and Coupons sites recently announced the results of its 2017 Valentine’s Day Survey - LOVEconomics. The national survey, which was conducted online and fielded more than 1,000 adults, revealed that 91% of the respondents preferred to shop online than offline for gifts.
The survey asked men and women about their Valentine’s Day gifting plans and revealed their spending behaviour.
While it may be established in most minds that men ‘have’ to spend more on Valentine’s Day, the CashKaro survey just threw all such assumptions right out the window. The main focus of the survey was to find out the spending behaviour of men and woman on this love-filled occasion and it turns out both the expectations and reality of spending are quite in sync. When asked how much they would spend on their beloved this year, a majority of both men and women (56% & 53%) mentioned that they would spend anywhere between Rs 1000-Rs 5000. Only 7% men and 8% women would shell over the Rs 10,000 mark.
Interestingly, when respondents were asked how much they expect their partners to spend on them, it turned out that both men and women (50% and 46%) expected their partners to spend approximately the same amount – Rs 1,000-Rs 5,000 that they would spend on them. Only 5% men and 10% women expected their partners to spend over 10,000 on them.
With the budget set in mind, CashKaro moved on to where they would like to shop for these gifts. Amazon.in, Flipkart and Ferns & Petals seem to have taken the cake when it came to shopping online for gifts. It was closely followed by sites such as Myntra, Shopclues, and Nearbuy.
On the survey Swati Bhargava, Co-Founder, CashKaro.com, said, “The survey shows that this Valentine’s Day is all about love, and the youth want to find the perfect gift for their significant other. The survey shines light on the ideas, behaviour and gifting patterns that are expected this Valentine's Day. The survey is also an indication that online is the most preferred channel to buy gifts or to even book reservations. Attractive deals and cashback offers do impact buying behaviour. From now through Valentine’s Day, we at CashKaro are also offering Extra Cashback/Rewards on Valentine’s Day gifting across partner retailers including Amazon.in, Flipkart, Tata Cliq etc. “
The survey also revealed that 91% of the respondents would shop online for gifts to save time and money. 89% of them would also look for deals, coupons, and cashback when they buy gifts or book reservations at a restaurant.
It looks like both men and women are pretty much on the same page while choosing gifts for their partner. 23% men and 28% women would shop for clothing and accessories for their Valentine. Men (20%) and women (26%) both admit that a date night out for dinner at a nice restaurant is the gift they’d most like to receive. Chocolates, cakes and jewellery were the other preferred gifting choices.
The respondents were majorly between 18-30 years of age with 70% male participation. This mostly included residents of Delhi-NCR, Mumbai, Bangalore, and Hyderabad.