Corporates big, small and tiny are likely to earn a sale of Rs 3,000 crore during Valentine’s Day this year on account of higher sales of V-Cards and other gift articles like flowers, diamond jewellery, chocolates, toys, readymade garments, mobile phones, electronic gadgets and wrist watches.
This projection is made by the Research Bureau of Assocham based on the feedback collected from the major producers.
On Valentine Day, the total estimated sale across the country last year were estimated at Rs 1,400 crore.
Increasing craze among eligible bachelors, youth and a large number of students in professional institutions and centres of various academia would provide the boost to sales of gift articles during Valentine’s Day, Assocham Secretary General D S Rawat told Deccan Herald sharing the findings of the Chamber’s Research Bureau. Feedback from various gifts manufacturers including those of V-Cards makers suggest that in the month of January and first half of February this year producers of various gifts have increased their production by nearly 30 per cent, particularly keeping in view the demand for gift items for Valentine’s day.
Nearly 700 young executives and over 1000 students in various parts of the country interviewed by the Assocham Research Bureau say that their 2008 Valentine’s Day expenses would vary between Rs 1000 to Rs10,000, a jump of nearly 30 per cent as compared to Valentine’s day of 2007.
In 2007, on an average, a student and a young executive spend nearly Rs 700 to Rs 7,000 per head on V-Day to express their sentiments for unification and seeking its endorsements, Rawat said.
Corporates earnings through V-day would be maximum through sale of V-Cards, followed by flowers, chocolates, toys, diamond jewellery-like necklaces, readymade garments, mobile phones and electronics items.
According to Assocham estimates, youths both working and pursuing their academic career and living in cities like Delhi, Mumbai, Bangalore, Hyderabad, Pune, Goa will contribute to over 60 per cent sale for V-Day gifts against remaining 40 per cent in tier II and tier III cities such as Dehradun, Shimla, Indore, Bhopal, Chandigarh and Mohali.
