Mexicans to splash MXN$ 1,795 million on Valentine's Day

This year, Valentine's Day is estimated to result in an economic benefit amounted to MXN$ 1,795 million , 3% higher than 2017 due to adjustments in costs of both products and services.

On average, Valentine's Day budget will be MXN$800 , while the estimated budget to celebrate with a couple ranges between MXN$600 to MXN$ 1452 , according to the Chamber of Commerce, Services and Small-Scale Tourism in Mexico City ( Canacope ).

The preferred gifts for the occasion are flower arrangements, chocolates or sweets, beauty items, books, films, records, and cell phones, followed by romantic couple activities such as dinner, cinema, theater or dancing dates.

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from flower shops, sweets and chocolate shops, sex shops, perfumeries, bakeries, and department stores overall could register sale increases of over 35% on average.

Canacope explained that service providers will have a better chance of getting a good rebound on Valentine's day, since those who celebrate privilege experience over gifts , thus hotels, restaurants, bars, canteens, coffee shops, ice cream parlors, chocolatiers are expected to present a sale increase above 70% in comparison with any other date.

Even though consumer activity is expected for Wednesday, February 14 , Valentine's Day celebrations may extend over the weekend in shopping centers, cinemas, public spaces.

It should be noted that young people aged 16 to 19 years are the age group that spends the most on Valentine's Day, while people over 50 years consume the least on this date. Overall, women are the main spenders, as they represent six out of ten buyers, according to an opinion poll to 212 business owners.

The economic recovery that could be obtained on Valentine's Day may be diminished by informal commerce , assured Canacope President Ada Irma Cruz Davalillo , urging consumers to prefer products and services belonging to formal commerce in order to support the internal economy.

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