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MarketScreener Homepage  >  Equities  >  Nyse  >  Mastercard Incorporated    MA

MASTERCARD INCORPORATED

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Mastercard : You Can't Put a Price on Love…Especially When it Comes to Valentine's Day

02/13/2017 | 02:18pm EST

The annual 'Mastercard Valentine's Day Index ' highlights money is no object when it comes to creating a special experience

Share this news using the hashtag #LoveIndex http://newsroom.mastercard.com/?p=59335

February 13, 2017 - Whether it's a small romantic gesture or an extravagant surprise for that special someone, it would appear shoppers around the globe are feeling loved up, spending more on the most romantic day of the year than ever before.

The annual 'Mastercard Valentine's Day Index,' an analysis of payment card transactions over a three-year period, has revealed that sentimental spending has increased by 49 percent. And while the majority of purchases still happen in person, love is the latest thing to go digital, with a 37 percent increase in the number of online transactions.

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If you still haven't picked up something special for your loved one - you're not alone. Data showed the majority of Valentine's purchases happen during a last-minute dash on February 13, with 47.4 million transactions that day alone over the past three years.

Recent years have shown that the stomach is increasingly the way to one's heart, with spending in restaurants soaring by 102 percent since 2014.

'Whilst the way we say I love you might have changed in recent years, showing someone you care on February 14 is more popular than ever. The Mastercard Valentine's Day Index highlights key global and regional trends to hopefully offer retailers some priceless insight into how customers want to spend the most romantic day of the year' commented Linda Kirkpatrick, Executive Vice President, US Merchants and Acceptance.

The study, which looked at shopper behavior in more than 200 territories around the globe, identified some other purchasing trends.

The personal touch still matters: Despite the continued growth of online, 95% of transactions around Valentine's Day are still made in person. Those in Latin America showed the biggest shift to online, with an increase of 250% from 2014 to 2016, followed by the Middle East and Africa with a 56% increase

REGIONAL TRENDS
Asia Pacific
  • Spend most of their money on hotels / motels during the Valentine's period - 37%, an increase of 33% since 2014
  • Do 85% of their Valentine's Day purchases in person, however online sales have increased by 81% in the last three years
Canada
  • Choose to spend the most on restaurants and eating out during Valentine's Day period - 34%
  • 59% of their spending happens in person (the lowest amount across all regions)
Europe
  • Most of their Valentine's Day spending goes on hotels / motels - 35%, an increase of 50% in three years
  • Europeans lead the way in terms of spending online compared to other regions, 19% of their Valentine's Day spending is done on e-commerce sites
  • Biggest area of growth in Europe was in restaurants, up by 67% during the Valentine's Day period in three years
Latin America
  • Biggest growth in terms of online spending, up by 250% in three years
  • Bucked the trend in terms of flowers, seeing massive growth of 271% between 2014-2016
  • Also saw the biggest growth in terms of splashing out on jewelry - up by 66%
USA
  • Love spending their money on food, 44% goes on restaurants and has seen the biggest growth across all regions since 2014 - up by 130%
  • 90% of their purchasing still takes place in person
  • Spending on hotels / motels was also up by 57% over the three year period on Valentine's Day
Middle East and Africa
  • Spend most of their Valentine's Day budget on hotels / motels (43%) followed by jewelry (22%)
  • Conduct three quarters (75%) of their purchases in person
  • Also bucked the trend in terms of flower sales, up by 22% over the three year period

About Mastercard

Mastercard (NYSE: MA), www.mastercard.com, is a technology company in the global payments industry. We operate the world's fastest payments processing network, connecting consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. Mastercard products and solutions make everyday commerce activities - such as shopping, traveling, running a business and managing finances - easier, more secure and more efficient for everyone. Follow us on Twitter @MastercardNews, join the discussion on the Beyond the Transaction Blog and subscribe for the latest news on the Engagement Bureau.

Media Contact:

Sarah Ely

Sarah.ely@mastercard.com

(914) 249-6714

MasterCard Inc. published this content on 13 February 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 13 February 2017 19:17:10 UTC.


© Publicnow 2017
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