And romantic Indians are at the front line of the pack.
Indians are estimated to account for nearly 10% of the global V-Day sales — spending mainly on ‘dining out’ and gifts.
The consumer spending during the week leading (which started last weekend) to the D-day is estimated to touch a whopping $25-27 billion (Rs 1.2 lakh crore) across the world. India share in this expending is $2.5-$2.7 billion (Rs. 12000 crore).
Regions wise spending:
US_______________$18.6 billion or 69- 74 % of the world wide sales. Nearly half of this money will be spent on dining out and about $2.6 billion on romantic getaways.
Europe ________________ Plus $6 billion or 22-24 percent of the world-wide V-Day sales. The Valentine’s Day-spending of 2010 in the developed world was 7-9% lower than compared to 2011.
India____________ As said Indians will be spending $2.5-2.7 billion; and primarily on dining out and gifts. According to estimates, the ‘eating-out’ market in India is estimated at around Rs 40,000 crore of which 5-8% of the spending amounting to Rs 2,000-3,000 crore is expected during the Valentine’s week. Or about 25 percent of money spent this Valentine in India will go to “Dining Out”.
Regarding who the Food and gift industry in India is targeting; You guessed it correct, it’s the consumers in the age group of 18-30 years. Who, the industry wants to shell out a minimum of Rs 5,000-6,000 on Valentine's Day, to take the sellers cross the Rs 12000 crore spending. --------
No comments
Post a Comment