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Home / India News / 2007 / February / February 15, 2007
"Money Can't Buy Love, But Indian Youth Tries Hard!"

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"Money Can't Buy Love, But Indian Youth Tries Hard!"

New Delhi, Delhi, India

While Valentine's Day is estimated to be a $ 14 billion industry in the US, India isn't far behind. The Valentine's Day market today is a staggering Rs 1,200-crore. And all estimates suggest that it's growing by 20-25% year-on-year.

A recent research done by AbsolutData Research & Analytics provides interesting insights into the way young Indians perceive this occasion. The survey suggests that with nearly 70% of the urban youth celebrating the day, V- Day enjoys great social acceptance as compared to earlier times. There has been a drastic change in spending patterns with more than 50% increase in the average spend this season compared to last year. Interestingly men have taken the lead on shopping by spending 20% more as compared to women. Flowers & cards are the clear choices when it comes to gifting your loved one. The research reveals that chocolates, cakes & jewellery are also stacking up on popularity as are trips to exotic locations & romantic dinners. Valentine's Day is a large contributor to the increasing wallet share of online gift purchases. As part of this trend, both traditional gift shops as well as online retailers are cashing in as never before & this trend is only on the upswing.

Commenting on the survey Anil Kaul, CEO, AbsolutData Research and Analytics said, "Valentine's Day is increasingly becoming an accepted part of Indian celebrations; our research clearly shows that the youth are increasing their participation & spending on this occasion".

About AbsolutData Research and Analytics

AbsolutData Research & Analytics is a professional services firm that provides consulting-oriented Advanced Analytics and Market Research services to its global clients. It helps its clients maintain and augment their market position by delivering enhanced value through a combination of significant cost savings, superior talent, process excellence and innovation. AbsolutData is led by a Management team that has substantial experience at leading organizations such as McKinsey & Co., Kraft Foods, GE, Pfizer and Mitsubishi. AbsolutData currently has over 130 professionals across various offices. AbsolutData's clients include companies such as world's top consulting companies, CPG companies, credit card providers, leading retailers, and technology leaders.

AbsolutData is headquartered in the San Francisco Bay Area in California and has operations located in New Delhi, India,

The company website- www.absolutdata.com

Kavita Kapoor, Grey Cell PR, +91 9871937518 kavita.kapoork@gmail.com

Source: AbsolutData team (Business Wire India)

Press release presented here is sourced from the Source mentioned above and is provided on as-is basis. Please contact the Company / Source directly for any further information in regard to this release. This website will be unable to assist you in regard to the accuracy or correctness of information in this release.

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