Indonesians not interested to buy gift on Valentine’s Day

JAKARTA, Indonesia – If you’re not planning on buying your significant other a gift for Valentine’s Day, you are not alone.

Just 10% of Indonesians plan to buy their significant other a Valentine’s Day presents, according to the recent Mastercard Love Index.

The survey questioned 406 individuals from across Indonesia, revealing that on average men and women will spend Rp 216,000 ($16 USD) on a gift.

Valentine’s Day has become a booming trade across the Asia Pacific, with spending for the holiday increasing for 23 percent from 2013 to 2015.

Although most Indonesians choose not to celebrate the day, love is certainly in the air in neighbouring countries.

Thailand is the most loved up country, with 79 percent of the 402 people survey planning to buy a gift.

China and Hong Kong also take a big role in the romantic festivities, with 72 per cent and 65 percent respectively saying they will buy a gift.

When it comes to popping the question however, the Vietnamese believe that Valentine’s Day is the perfect day.

Of the 432 people surveyed, 73 percent believed that Valentine’s Day was “the best day” to propose or receive a proposal.

The surveyed showed that Valentine’s Day is more popular in countries such as Thailand, China and Malaysia, as opposed to Australia and New Zealand.

Whilst much of Valentine’s Day advertising is centred around flowers, chocolate and jewellery, a recent shift to experiences rather than possessions has been identified.

In the past three years, 36 percent of Valentine’s Day spending has been on hotels, whilst a further 24 per cent went towards restaurants.

Breaking the bank

Across the globe, involvement and interest in Valentine’s Day has been waning, as the cost of participating in the day continues to climb.

America’s National Retail Federation predicted that the amount of money spent on gifts for Valentine’s Day in America would reach $19.7 billion this year.

This is despite the study showing that just 54.8% of consumers surveyed planned to buy a gift for Valentine’s Day, making it the second worst Valentine’s Day in nine years.

Gift inequality

The cost of Valentine’s Day has gotten increasingly steep, disproportionately hitting the hip pockets of male gift givers.

Men are expected to shell out an average of Rp 1,98 million (US $146.84) on gifts for the first retail holiday of 2016.

Yet the costs extend far past this, with a further Rp 675.000 (US $50) incurred in other costs.

Women by comparison pay almost half this amount, shelling out only Rp 1,35 million (US $99.87) on average.

An LPL report estimated that the cost of a night out has increased 3.1% in 15 years, with overall costs related to Valentine’s Day have increased by approximately 1.3 per cent in just one year.

However, falling commodity prices have resulted in falling jewellery prices, allowing diamonds and other precious stones to become more affordable gift options. – Rappler.com