Africa-Press – South-Africa. South Africa’s are not afraid to splurge for Valentine’s Day, according to the Mastercard Love Index.
The index examines the spending habits and trends around the world on Valentine’s Day and found that South Africa was one of the countries where people went all-out for the day.
Mastercard’s index analysed spending data in the lead-up to and on Valentine’s Day in 53 countries.
Mastercard said the amount South Africans spend on the day has increased by 142 percent over the last decade.
According to Mastercard, one of the reasons for the steady growth in spending is online shopping, with people spending more on romantic experiences than traditional gifts like flowers and jewellery.
Mastercard SA country manager Suzanne Morel, said that people have found the digital shift of purchasing gifts online “swifter and safer”.
“Food continues to be one of the most popular ways to win people’s hearts. Since 2011, there has been a 1 130 percent increase in the amount of Valentine’s Day transactions in restaurants, with the amount spent increasing by 253 percent in 2020,” said Mastercard.
A Valentine’s Day survey by international e-commerce platform Picodi showed that on average, people in South Africa spent R716 on the day, with women spending 11 percent more than men, whose figure came to R668.
BUSINESS REPORT ONLINE
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