Tokyo: A surge in cocoa bean prices and consumer inflation in Japan are affecting 67.5 percent of women who traditionally buy chocolates as Valentine's Day gifts, a recent survey revealed.
According to Philippines News Agency, the high prices of cocoa beans, the primary ingredient for chocolate, have influenced many women to opt for lower-priced items and reduce the amount of gifts they purchase. This information comes from a survey conducted by market research company Intage Inc. The survey took place in mid-January and included participants aged 15 to 79 across Japan who are registered respondents to Intage questionnaires. Out of approximately 2,500 female respondents, 42.8 percent indicated they have no plan to give chocolates, marking an increase of 4.0 percentage points from a similar survey conducted last year.
The average budget for Valentine's Day gifts, mainly intended for family members and themselves, rose to 4,943 yen, an increase of 369 yen. When asked about the reasons behind the budget increase, 63.6 percent of respondents cited higher chocolate prices, while 39.8 percent pointed to general price increases and a weaker yen.
Among the roughly 1,450 women who indicated they will purchase chocolates for Valentine's Day, the largest group, 33.7 percent, noted that price hikes led them to choose lower-priced items. This was followed by 24.6 percent who plan to reduce the number of items they purchase, and 18.9 percent who will buy from places where lower-priced items are available.
Meanwhile, 7.9 percent of respondents said they will buy other sweets, and 7.7 percent stated they will reduce or stop purchases of chocolates for themselves. Those who decided not to give chocolate gifts altogether totaled 5.8 percent, and those switching to homemade chocolates accounted for 3.1 percent.
An official from Intage commented, "Our survey last year already showed a strong impact of inflation and higher cocoa prices on women's behavior. This year's survey showed an even stronger influence of the surge in chocolate prices on their actions."
