• About Us
  • Archives
  • SWG Registration
Samrack Media
Mahiga Homes
  • Home
  • ALL NEWS
  • Diaspora
  • Africa
    • AFRICA
    • KENYA
  • BUSINESS
    • BUSINESS
    • INVESTMENTS
    • REAL ESTATE
    • TECHNOLOGY
  • Politics
  • Health
    • HEALTH
    • EDUCATION
  • Religion
  • People
    • PEOPLE
    • LIFESTYLE
    • RELATIONSHIPS
  • Obituaries
  • Videos
  • Events
No Result
View All Result
  • Home
  • ALL NEWS
  • Diaspora
  • Africa
    • AFRICA
    • KENYA
  • BUSINESS
    • BUSINESS
    • INVESTMENTS
    • REAL ESTATE
    • TECHNOLOGY
  • Politics
  • Health
    • HEALTH
    • EDUCATION
  • Religion
  • People
    • PEOPLE
    • LIFESTYLE
    • RELATIONSHIPS
  • Obituaries
  • Videos
  • Events
No Result
View All Result
Samrack Media
No Result
View All Result

Kenyans top Valentine’s spenders

samrack by samrack
February 14, 2020
in Africa, Business, Diaspora, Kenya, Kenya Diaspora News, News, U.S Diaspora
A A
0
Kenyans top Valentine’s spenders
Share this
FacebookTwitterPinterestEmailWhatsAppLinkedIn
Valentine’s Day. The number of people who go on rendezvous in hotels has risen by 65 percent. PHOTO | FILE | NATION MEDIA GROUP

Kenyans top Valentine’s spenders

Kenyans are increasingly going beyond traditional gifts to spend wads of cash on romantic experiences in an effort to make their partners happy.

According to this year’s Mastercard Annual Love Index released Thursday, the number of people who go on rendezvous in hotels has risen by 65 percent between 2017 and 2019, against a 22 percent global increase.

Kenyans also spent 37 percent more than they did in 2017 on booking flights and trips, travelling with their partners to celebrate this special time of the year, to ensure that lovers have “two hearts that beat as one.”

The Index, a study of transactions ahead of Valentine’s Day (February 11-14 of the three years) identifies spending habits and trends during this period by analysing credit, debit and prepaid card transactions from 53 countries around the world.

The 2019, according to the report, saw the majority of Valentine’s Day transactions take place on February 11, compared to 2018 when they took place on February 12 and in 2017 where they took place on February 13.

“Now in its fifth year, the findings reveal that the world’s “love economy” is growing five times faster than the global economy, with Valentine’s Day spend around the world up 17 percent since 2017,” it indicates. In Kenya, sentimental spending around Valentine’s Day has increased even more – up by 32 percent since 2017, with the overall transactions up by 51 percent.

The rise of e-commerce also continues, with a 64 percent spike in online transactions in the Valentine’s Day period against 57 percent globally over the past three years.

Food continues to be the best route to people’s hearts, with spend in restaurants increasing during the affection month every year. “Kenyans are more likely than other global romantics to treat their loved ones to special meals on Valentine’s Day, with the amount spent on restaurants increasing by 18 percent in 2019, against a 16 percent rise globally,” the report says.

Kenyan shoppers buck global trends when it comes to gifting jewellery for Valentine’s Day. While global spend on jewellery for the occasion increased by just 6 percent globally, Kenya recorded a 21 percent increase in jewellery budget in the run up to Valentine’s Day.

However, flowers appear to be falling from favour in Kenya. While Kenyan Valentine’s Day flower sales decreased by 29 percent last year, global sales increased by three percent.

Valentine’s Day cards remain a firm favourite in Kenya, where spend has increased by 24 per cent in 2019 from the previous year, and by 5 per cent from 2017 to 2018. In contrast, global spend on Valentine’s Day cards has increased by just 2 per cent in the past three years.

“Kenyans are keeping pace with global trends and favouring experiences over traditional gifts. It’s clear that the younger generation values the opportunity to create a shared experience,” said Adam Jones, Area Business Head East Africa, Mastercard.

“It is easier to travel and book trips away now than ever before, which is reflected in the huge increases in flights and hotels booked online in the lead up to Valentine’s Day over the past three years.

“The Mastercard Love Index is a unique look at how buying behaviour is evolving over time, and as we make our way in a new decade, we expect the trend of investing in time and memories together to continue to grow.”

The data also revealed a positive trend of a more organised Valentine’s Day planner, with the majority of transactions taking place earlier than ever before and the number of last-minute shoppers falling.

Source: Daily Nation

 

Previous Post

Why Fixed deposit account isn’t the best way to save money

Next Post

USERNAME INVESTMENTS GIFTS A NEEDY KENYAN WITH A PLACE TO CALL HOME DURING THIS VALENTINES MONTH

Related Posts

Diaspora

Canadian Embassy Wades into Kenyan-Canadian Nurse Lucy Njeri’s Alleged Murder Plot

January 26, 2023
US Man Involved in a $250 Million Fraud Scheme to Forfeit Properties He Acquired in Kenya
Business

US Man Involved in a $250 Million Fraud Scheme to Forfeit Properties He Acquired in Kenya

January 26, 2023
Mizizi Africa Homes diversifies into land selling with ‘Buy, We Build’ Concept
Africa

Mizizi Africa Homes diversifies into land selling with ‘Buy, We Build’ Concept

January 24, 2023
Equity Bank’s Wings to Fly Scholarship selection process commences
Business

Equity Bank’s Wings to Fly Scholarship selection process commences

January 23, 2023
Beloved Sister in Christ, Christine Ntagengwa

Transition/Death Announcement of Christine Ntagengwa of Attleboro,Massachusetts

January 23, 2023
Women of Hope: Valentines Dinner: $70 P/Person 11 Feb 2023 Guest Speaker:Rev.Dr.G.G Gitahi Time 7PM EST
Diaspora

Women of Hope: Valentines Dinner: $70 P/Person 11 Feb 2023 Guest Speaker:Rev.Dr.G.G Gitahi Time 7PM EST

January 21, 2023
Next Post
Username-Investment-Ltd-Team-together-with-Musa-Yatich-and-Wamo-Non-Formal-Education-Centre-children-after-awarding-them-a-free-residential-plot-and-shopping-voucher-as-Valentine’s-gifts-respectively

USERNAME INVESTMENTS GIFTS A NEEDY KENYAN WITH A PLACE TO CALL HOME DURING THIS VALENTINES MONTH

Please login to join discussion
ADVERTISEMENT
ADVERTISEMENT
Royal Gardens Ngong Royal Gardens Ngong Royal Gardens Ngong
ADVERTISEMENT
KIBS VILLA HOMES:(ABNB) Relax into Luxury: Monthly ABNB rates are negotiable Call:508-479-1517 / 254714428680 KIBS VILLA HOMES:(ABNB) Relax into Luxury: Monthly ABNB rates are negotiable Call:508-479-1517 / 254714428680 KIBS VILLA HOMES:(ABNB) Relax into Luxury: Monthly ABNB rates are negotiable Call:508-479-1517 / 254714428680
ADVERTISEMENT

Latest News

Canadian Embassy Wades into Kenyan-Canadian Nurse Lucy Njeri’s Alleged Murder Plot

US Man Involved in a $250 Million Fraud Scheme to Forfeit Properties He Acquired in Kenya

Mizizi Africa Homes diversifies into land selling with ‘Buy, We Build’ Concept

Equity Bank’s Wings to Fly Scholarship selection process commences

Transition/Death Announcement of Christine Ntagengwa of Attleboro,Massachusetts

Women of Hope: Valentines Dinner: $70 P/Person 11 Feb 2023 Guest Speaker:Rev.Dr.G.G Gitahi Time 7PM EST

The Domain, Kisumu Dala

NEW SCARY DEVELOPMENTS IN KENYA

Transition/Death Announcement of of Robert Kimani Waruingi of Baltimore MD.

Kenyans in the Diaspora Can Now Open eCitizen Account Using an Email Address

We are grateful for your monthly or one-off donations To Samrack Media: Cash App No: 781-888-8770 $SAMRACK001

Money

New Digital Skills Helps Unemployed Kenyan Youth Earn In Cryptocurrency

New Digital Skills Helps Unemployed Kenyan Youth Earn In Cryptocurrency

by samrack
November 19, 2021
0

New Digital Skills Helps Unemployed Kenyan Youth Earn In Cryptocurrency This week sees the launch of a new initiative to equip...

A simple guide to Government Bonds investing in Kenya

A simple guide to Government Bonds investing in Kenya

by samrack
September 17, 2021
0

A simple guide to Government Bonds investing in Kenya A treasury bond (T-bond) is a medium term to long term...

Politics

NEW SCARY DEVELOPMENTS IN KENYA

NEW SCARY DEVELOPMENTS IN KENYA

by samrack
January 21, 2023
0

NEW SCARY DEVELOPMENTS IN KENYA Will Martha Karua's case at the East African Court of Appeal, the new Ruto's revelation...

Former President Uhuru Kenyatta shaking hands with President William Ruto at the Kasarani Stadium on September 13, 2022. Image: FILE

Ruto, Uhuru to share platform at peace event in Nairobi

by samrack
November 28, 2022
0

Ruto, Uhuru to share platform at peace event in Nairobi Burundi's Evariste Ndayishimiye and Uhuru will officiate the opening session...

  • About Us
  • Archives
  • SWG Registration

© 2023 SAMRACK - Diaspora News & Updates; design by: Samrack.

No Result
View All Result
  • Home
  • ALL NEWS
  • Diaspora
  • Africa
    • AFRICA
    • KENYA
  • BUSINESS
    • BUSINESS
    • INVESTMENTS
    • REAL ESTATE
    • TECHNOLOGY
  • Politics
  • Health
    • HEALTH
    • EDUCATION
  • Religion
  • People
    • PEOPLE
    • LIFESTYLE
    • RELATIONSHIPS
  • Obituaries
  • Videos
  • Events

© 2023 SAMRACK - Diaspora News & Updates; design by: Samrack.

Page generated in 1.085 seconds. Stats plugin by www.blog.ca