Men over the age of 31 pay more for Valentine’s gifts. Restaurants and flowers, the preferred plan for February 14

A few hours before Valentine’s Day, businesses intensify their movement trying to satisfy the demand that, as February 14 approaches, seeks various gift options that suit their budgets.

The date consumption preferences were analyzed by Oikonomics Economic Consultant, and show the inclinations of men and women on this date. For example, women under the age of 31 are willing to spend an average of $20 on a gift, and men in the same age range report spending an average of $29.

While women over the age of 31 would spend an average of $34 on a gift, and men in the same group would spend an average of $56. These results show that men are more willing to pay for a Valentine’s gift compared to women.

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The information was collected through digital surveys in Quito, from February 2 to 7, 2023. A total of 236 surveys were collected, of which 52.8% correspond to responses from men and 47.2% from women. .

For its part, the commercial sector expects these measurements to become sales and income at the same time. Miguel Ángel González, president of the Guayaquil Chamber of Commerce, projected that sales in restaurants and beverage services for this month will be around $185.5 million, almost $28 million more than in February 2022 ($157.6 million ), that is, 18% more.

In 2019, February sales were $177.6 million, in 2020: $180.9 million, and in 2021: $120.6 million.

Chocolate sales also have good expectations and are expected to reach $23 million, that is, a year-on-year growth of 2%.

Which are the places with the greatest number of customers on this date? According to the consultant, restaurants and flower shops are where it is expected, possibly, to have a greater influx of people, given the tradition of people on this festivity.

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Among the varieties of flowers that are given the most on this date are roses. Until the end of January, the average price of a bunch of roses (25 units) in the Ecuadorian market was around $3.70 and in the United States (the main buyer of roses worldwide) was $25.

However, in the days prior to Valentine’s Day, specifically, on February 10, 2023, the price of the same bunch of roses in the national market rose to $7 and in the American market to $48.44, that is, an increase of 89 % and 94%, respectively.

For example, the influx of customers to the flower market in Guayaquil intensified from the morning of this Monday, February 13, 24 hours after the celebration. In the place, despite the rain, the merchants offer arrangements from $5 and up with different options that include stuffed animals, chocolates and other additional items.

As for establishments, both women and men prefer to spend this holiday in a restaurant, according to the study by the consultant. However, the second best option for women is coffee shops, while men prefer going to the movies.

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Another of the favorite options for both genders is to spend at home where they possibly incur less expense. A difference between these two groups is the preference for a place that includes a stay, while 14.9% of men see as a good option spending in a hotel, motel, glamping or Airbnb, only 7.8% of women think this is a good choice.

People under 31 celebrate Valentine’s Day more

The Oikonomics study indicates that of the total number of people surveyed, 75.2% will celebrate Valentine’s Day and 24.8% will not. When analyzing the information by age range, it is observed that people under 31 years of age are the ones with the greatest preference for celebrating this date.

And as the age of the respondent increases, the proportion of people who decide to celebrate on February 14th decreases. Such is the case that of people over 65, only 33% will celebrate Valentine’s Day and 67% do not plan to do so.

In general, the main reasons why those surveyed will not celebrate on February 14 is because they are not interested (48.8%) or because they do not have a partner (29.8%). Others mention the lack of money (12.4%) and time (9.1%) as justifications that prevent celebrating this date. (YO)