Tuesday, February 27, 2024

The price of love Valentine’s Day spending to reach more than 2.5 billion baht in 2024

Valentine’s Day expected to cost more due to inflation, but consumers still plan to celebrate with gifts. Top gifts include roses, clothes, and home-cooked meals. Online shopping is popular for gifts.

Cost of Valentine’sDay on the Rise Amid Sticky Inflation

Despite ongoing economic challenges, consumers are gearing up to celebrate Valentine’s Day and show their sweethearts how much they care. The latest survey by the University of the Thai Chamber of Commerce (UTCC) indicated that spending on Valentine’s Day this year is expected to reach 2.52 billion baht, a 5.4% increase from 2023, with flowers remaining a top gift choice despite the lower price of roses.

Consumer Preferences: Spending and Gifts

According to the survey, 73.6% of respondents plan to celebrate Valentine’s Day this year, with an average spend of 2,125 baht per person, compared to 1,848 baht in 2023. Restaurants are the top choice for celebrations, followed by department stores, shopping malls, and the home. Additionally, nearly 80% of consumers plan to shop for Valentine’s Day gifts online, with clothes and bags being the most popular items, followed by chocolates and flowers.

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