Kashef: February 14 is more popular than ever
Valentine’s Day online shopping surges 71pc in MEA
CAIRO, February 14, 2017
Online shopping around Valentine’s Day saw a 71 per cent increase in the Middle East and Africa in the last two years, with consumers spending more on the most romantic day of the year than ever before, said a new report.
Whether it’s a small romantic gesture or an extravagant surprise for that special someone, shoppers around the globe are feeling loved up, added the annual “Mastercard Love Index”, an analysis of payment card transactions over a three-year period.
The study has revealed that sentimental spending in Egypt has increased by 72 percent since 2014. And whilst the majority of purchases still happen in person, love is the latest thing to go digital, with a 58 percent increase in the number of online transactions from Valentine’s Day 2014 to Valentine’s Day 2016.
If you still haven’t picked up something special for your loved one, you’re not alone. Data showed the majority of Valentine’s purchases happen during a last-minute dash on February 13, with over 19,000 transactions taking place that day alone over the past three years in Egypt.
Recent years have shown that the stomach is increasingly the way to one’s heart, with spending in restaurants in the country soaring by 179percentsince 2014.
“Whilst the way we say I love you might have changed in recent years, showing someone you care on February 14 is more popular than ever. The Mastercard Love Index highlights key global and regional trends to hopefully offer retailers some priceless insight into how customers want to spend the most romantic day of the year,” said Tamer Kashef, Egypt country manager – Mastercard.
The study, which looked at shopper behaviour in more than 200 territories around the globe, also identified some other purchasing trends.
Key regional findings:
Shoppers in the Middle East and Africa spend most of their Valentine’s Day budget on hotels / motels (43 percent) followed by jewellery (22 percent)
Conduct three quarters (75 percent) of their purchases in person
Also bucked the trend in terms of flower sales, up by 30 percent over the three year period - TradeArabia News Service