It’s that time of year again—when the sight of couples over-professing their love for another either makes you googly-eyed or sick to your stomach. But whichever category you fall in in this love-hate entanglement with Valentine’s Day, one thing’s for certain — the tradition has picked up in a big way in India over the last couple of years.

Let’s forget for a second that this holiday was basically invented as a marketing strategy by a greeting card company. One they should probably win awards for coming up with because it’s grown to become a multi-billion dollar industry and our country, despite having a tradition of frowning upon relationships outside of marriage, has not escaped the grips of this celebration.

An article on the India Africa Connect said that the V-Day market in India has been valued at Rs.15,000 crores, that is $27 million, based on a survey conducted across 800 executives in major metros and 1,000 students from 150 educational institutions.

The Associated Chambers of Commerce and Industry of India (Assocham), that conducted the survey said the size of the market was this large since the celebration lasted throughout the week, starting from Rose Day until February 14 rolls in.

It also found that men spent more than double the amount women do, a finding that has been backed up by yet another survey, to some extent. Conducted by Fiftease.com, a gifting portal conducted a survey across 3000 people from metropolitan cities, falling in different age groups ranging from 18 to 45 years. Their findings gives us an insight into the psyche of people in terms of their expectations and behaviour during this holiday.

While 37 per cent of the respondents plans to spend the day alone and 22 per cent with their friends, about 68 per cent plan to celebrate the day in some way. A small 8 per cent hopes that they day will mark the start of something new, having set it aside for a first date.

While the common perception is that women lay more importance on this day than men, the study found that men plan to spend over Rs.740 on gifts which is higher than women who on an average plan to spend close to Rs.670 this Valentine’s.

The gifting patterns also vary—men mostly like to play it safe, with around 42 per cent sticking to flowers and a 27 percent opting to gift chocolates. However, a small but significant 17 per cent are leaning more towards their kinky side.

Women on the other hand, are more likely to gift gadgets ((34 per cent), perfumes 919 per cent) or accessories (16 per cent). Very few women seemed to be likely to gift something naughty to their spouse.
“Valentine’s Day celebrations are no longer just a metro phenomenon, it has taken root even in the tier-II and tier-III towns.

While flowers and chocolates have been all-time favourites, the largest growth is in the customised gifts and naughty gifts categories,” said Ashish Chandani, COO and co-founder of Giftease.com. Gifting your special someone on this day is more important than you think—it could determine the future of your relationship.

One in seven women said that they would break up if they didn’t receive a gift, the results showed. Well, that should explain why men end up spending more than women on this day.

While for those who are still dating, this might seem worrisome, the survey also suggests that married women can heave a sigh of relief. 41 per cent of married men pre-plan for this day compared to 31 per cent of unmarried men who prepare in advance for their girlfriends.

As per the study conducted by Assocham, it is suggested that this year there will be a 20 per cent increase in spending during the day than last year. Over the past few years, several companies have worked towards using this holiday to turn profits.

Several travel companies offer V-Day tour packages to romantic destinations such as Kerala, Goa, Missourie, Shimla and even Bangkok and Singapore for prices between Rs.15,000 and Rs. 50,000. Last year, the wholesale flower industry touched Rs. 180 million in sales and this year, flower shops are expected to secure business worth anywhere between Rs.220 to Rs.250 million.

Over the years, this holiday has managed to build the pressure to be with someone. Even though 42 per cent women and 47 per cent men feel that Valentine’s Day is over-hyped, they continue to celebrate it.

From Diwali to Christmas to Eid, every holiday these days seem to be nothing more than what the greeting card companies and gifting brands want it to be. And as hopelessly romantic as we might be at heart, it feels impossible to imagine that enough of us won’t bite the bait.