Thai consumers expected to spend 70 million USD for Valentine’s Day

Wednesday, 14/02/2024 12:15
Spending for Valentine’s Day this year in Thailand is expected to increase 5.4% from 2023 to about 2.52 billion THB (70 million USD), according to a recent survey by the University of the Thai Chamber of Commerce (UTCC).
Thai consumers are expected to spend about 70 million USD for Valentine’s Day this year (Photo: Xinhua/VNA) 

The annual survey of consumer spending on the celebration of love and affection showed that 34.9% of the 1,250 respondents sampled nationwide said celebrating Valentine’s Day is important.

In terms of overall spending, nearly three-quarters of the respondents (73.6%) said they are planning to celebrate this special occasion even though it may cost consumers more this year, with an estimated average spend of 2,125 THB per person, compared to 1,848 THB per person in 2023.

The top places for celebrations of love according to the survey are restaurants (41.6%), followed by department stores and shopping malls (24.7%), home (14.9%), and public parks (0.5%).

Meanwhile, the findings of a separate survey by Visa released on February 11 showed that shopping online will be the path most consumers choose for Valentine’s Day gifts, with clothes and bags on top of the gift list.

Nearly 80% of respondents in this survey said they are planning to purchase Valentine’s gifts online. The top shopping destinations are online stores and e-commerce (57%) and social media platforms (20%).

Another study covering 2,006 consumers and carried out online by YouGov showed that the top gifts they plan to buy for their sweethearts include clothes, handbags and jewellery (30%), followed by chocolate (25%) and flowers (12%)./.

CPV (Source: VNA)