Can money truly purchase love? Perhaps not, but it undeniably contributes to making your partner feel cherished, as evident from the surge in luxury goods sales and hotel reservations leading up to Valentine’s Day.
According to Booking.com, The Oberoi Udaivilas and Fairmont Jaipur have completely sold out their rooms for February 14th.
Rajesh Namby, the general manager of Raffles Udaipur, expressed that the hotel has experienced a “remarkable” upsurge in bookings. He anticipates a revenue growth of 22-27%, attributing it to the increase in average daily rates during Valentine’s Day.
Pushpa Bector, the business head of DLF Retail, overseeing luxury malls like DLF Emporio and The Chanakya in Delhi, mentioned that many young Indians, particularly millennials, appear inclined to indulge in premium luxury brands for their loved ones this Valentine’s Day.
“We are anticipating a significant increase in sales compared to last year. There is a strong uptick in sales for luxury brands centred around watches, branded jewellery and items such as designer handbags this Valentine’s Day,” she said. “Notably, there is also an increased focus on indulgent experiences, and F&B (food and beverages) has emerged as the most sought-after category this year.”
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Vijay KG, the founder of Luxepolis, an online marketplace for certified pre-owned and discounted new luxury goods, disclosed that luxury sales, covering both pre-owned and new products, have surged by 40-50% year-on-year.
“Handbag sales are certainly on the rise,” he said.
Karan Ahuja, co-CEO of CocoCart, noted that although consumer favorites like Toblerone, Ferrero, and Hershey’s remain popular, there has been a rise in sales for premium and luxury chocolate brands like Venchi.
The cost of Venchi chocolates ranges from INR 7,295 for an 800 gram bar to as high as INR 64,500 for a box of 54 assorted chocolate cigars.
According to Shalabh Arora, the marketing director at Four Seasons Bengaluru, the hotel has experienced a 20% increase in bookings for Valentine’s Day packages, encompassing accommodations, spa treatments, and food and beverage offerings.
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The suite rate for the ‘Just The Two of Us’ package at the hotel, which comprises breakfast, dinner, and Valentine’s Day room décor, begins at INR 87,000 per night for two. For the ‘Plan a romantic getaway’ package, which includes extras like local luxury transportation and a 90-minute couple spa treatment, the suite rate starts at INR 1,05,000 per night for two.
Luxury brands at the UB City Mall in Bengaluru are pampering their loyal customers with champagne, along with crafting love-themed desserts and organizing live sessions with the pastry chef.
“Sales of luxury products at UB City have shown a notable increase compared to the previous year. We have noticed a significant uptick in consumer interest and spending on luxury items, particularly those tailored for Valentine’s Day,” said Uzma Irfan, director, UB City.
“Luxury brands have become more engagement driven and want to celebrate occasions with this new generation of luxury buyers by being experience-oriented and doing invites-only events,” she added.
Sanskriti Gupta, spokesperson for Läderach India, reported that sales have doubled this week compared to typical weeks.
“Our special range includes pralines and truffles, making it the ideal gift for loved ones,” she said.
“Our flagship product, FrischSchoggi, the fresh slab chocolate, has also proven to be exceptionally popular in the Indian market. Since the launch in August 2023, we have experienced an uptick in our sales which is driven by the festive, gifting and wedding season. We offer a diverse range of chocolates to meet the heightened demand and cater to the preferences of customers,” she added.
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