Online Sales to Surge 40% for Valentine's Week

assocham-logo0Mumbai: ASSOCHAM forecast that Valentine’s week online sales in India will jump 40 percent year on year to $3.53 billion (INR 220 billion) as consumers have increased spending power and they strive to celebrate the festival with gifts of jewelry, flowers and electronics. The week has already begun with Rose Day on February 7, followed by Proposal Day on February 8, Chocolate Day on February 9, Teddy Day on February 10, Promise Day on February 11, Kiss Day on February 12, Hug Day on February 13, and finally Valentine’s Day on February 14.

This year, ASSOCHAM also found that the share of India’s consumers who purchase gifts online will jump to 32 percent overall, from 20.5 percent in 2014.

Mr. D.S. Rawat, the secretary general of ASSOCHAM, said, “Valentine’s Day is turning out to be a heavy buying festival with a significant jump over the past four to five years.” Ecommerce stores are also becoming a favorable option due to smartphones since those mobile devices enable shopping anytime and many online retailers offer home delivery.

While flowers and chocolates remain two of the major gift choices for those who are 18 to 24 years old, consumers older than 25 favor gadgets, watches and expensive jewelry, the group noted.