Shopping online for Valentine's Day on the rise in Jordan
Country witnesses 433% increase in the number of e-commerce transactions from Valentine's Day 2015 to Valentine's Day 2017
By: TRACCS jordan
The annual "Mastercard Love Index", created by analyzing credit, debit and prepaid transactions across the past three Valentine periods (11th-14th February 2015-17), reveals that the share of spending on restaurants increased by 28% over the past 3 years; taking a 19% share of spend and a 56% share of transactions in 2017.
Whisking away for an unforgettable travel experience (via air or train) also saw a significant rise, as the number of transactions on transportation in Jordan increased by 137% in 2017, accounting for 10% of total spend over the most romantic time of the year.
Money spent on traditional Valentine's gifts such as flowers also grew by 289% vs. 2015, and the number of transactions has increased by 292%, showing that flowers remain a strong symbol of romance in Jordan. Similarly with jewelry, spend grew by 81%, with transactions increasing by 224% (vs. 2015).
The study, which looked at shopper behavior in more than 200 territories around the globe, identified further purchasing trends.
Are we planners or spontaneous when it comes to matters in love in Jordan? The data suggests that we are getting ahead of the curve when buying gifts. It's no longer left until the last minute, as the majority (28%) of Valentine's purchases are made on 11 February.
The trend for online shopping continues with an enormous 433% increase in the number of e-commerce transactions from Valentine's Day 2015 to Valentine's Day 2017.
"The Mastercard Love Index – now in its 3rd year – highlights global and regional trends to offer retailers priceless insight into consumer buying habits over the romantic period. Creating special memories with your loved one on Valentine's Day shows no signs of slowing down in Jordan. Our data suggests that while people still purchase traditional gifts such as flowers and jewelry, the move towards putting on a great experience is becoming increasingly important. In addition, the phenomenal growth in e-commerce transactions in the country indicates an overall increase in confidence when it comes to online shopping," Somu Roy, Country Manager, Levant, Mastercard.
Summary of consumer spending habits in the Middle East and Africa:
Middle East and Africa
• People are planning ahead in MEA with the majority (29%) of Valentine's purchases happening on the 11th February (620k transactions globally on February 11th over the past 3 years)
• Share of spend on hotels has also remained stable over the past 3 years; taking a 41% share of spend and a 21% share of transactions in 2017
• Spend on flowers has increased by 96% vs. 2015 with the number of transactions increasing by 71%