Italians first in Europe for Valentine's Day online purchases. To say it is the annual Mastercard Love Index report which reveals that spending by Italians for the most romantic party of the year has grown by 83% in the last three years, with a 405% increase in e-commerce transactions.
The research, now in its third edition, analyzes credit, debit and prepaid card transactions over a three-year period, and reveals that overall consumer spending worldwide increased by 49 %. Furthermore, although love is probably the last thing to enter the digital world and purchases take place mainly in person, directly in the store, the data shows a 37% increase in online transactions globally.
How and what do Italians buy on Valentine's Day?
· Italians are increasingly digital. In fact, the e-commerce transactions of Italians during Valentine's Day have increased of 405%, from 2014 to 2016, given that it places Italians first in the European ranking.
· In Italy the average spending during the Valentine's Day period recorded an 83% increase compared to 2014 and a growth in total transactions of 112%, among the highest in Europe.
Analyzing the data relating to February 13 in the last three years (from 2014 to 2016), over 600.000 online and in-store transactions emerge in Italy, a sign that most Valentine's Day purchases are made at the last minute, in line with what happens in general also in other European countries.
· Our compatriots, even on the most romantic day of the year, prefer good food, and are confirmed as lovers of the table: expenses relating to restaurants record growth 90%, accounting for 56% of all transactions. The sale of flowers instead recorded an increase of only 5%.
“The shift towards the digital world also concerns the most romantic occasions, especially in Italy. Our compatriots look for simplicity and speed in their purchases, even on Valentine's Day, for this reason they resort to the online world and e-commerce, which allows them to give a special experience to their loved one, even at the last second.” added Luca Fiumarella Head of Marketing Italy and Greece.
In the world
The research analyzes consumer behavior in over 200 countries around the world, highlighting the peculiarities and differences between the different countries.
· Around the world, the personal touch still matters: Globally, 95% of Valentine's Day transactions happen in person. The only exception is Latin America with a 250% increase in online purchases from 2014 to 2016, followed by the Middle East and Africa, with a 56% increase.
· In Europe on Valentine's Day the majority of purchases are for hotel or motel stays (35%), with a 50% increase in the last three years. Europeans hold the record, globally, for online purchases with (19%) of purchases made through e-commerce sites. The sector that has recorded the greatest growth in this period in the last three years is the catering sector, with an increase of 67%.
· In Latin America, the sale of flowers and jewelry increased by 271% and 66% respectively from 2014 to 2016.
· In the United States, 44% of purchases concern food and restaurants, registering, globally, the fastest growth since 2014 (+130%), followed by hotels and motels (+57% in the last three years). 90% of American purchases are made in person, directly in the store.
· In the Middle East and Africa, on Valentine's Day, the majority of purchases are for hotels and motels (43%), followed closely by jewelery (22%). Purchases are made in person by 75% of consumers. Over the past three years, the sale of flowers in these countries has grown by 22%.
