Japan is preparing to celebrate Valentine’s Day on Saturday, but this year’s festivities are overshadowed by soaring gift prices, particularly chocolate, the traditional present exchanged on the occasion.
A recent survey conducted by research firm Intage Inc. revealed that the continued rise in cocoa prices and broader inflation have directly impacted purchasing habits among Japanese women, who customarily buy chocolates for partners, colleagues and friends on February 14.
According to Spain-based outlet Nippon, 65.5% of women planning to purchase chocolate said higher prices would influence their decisions this year.
Meanwhile, 42.8% of respondents stated they do not intend to give any gifts at all, an increase of 4% compared to last year, signaling a noticeable decline in seasonal spending.
The average Valentine’s Day gift budget reached 4,943 yen, up 369 yen from the previous year.
Researchers attributed the increase primarily to the actual rise in chocolate prices, cited by 63.6% of respondents, followed by the weakening of the Japanese yen, mentioned by 39.8%.
Faced with mounting costs, consumers have adopted various strategies to cope. Around 33.7% opted for lower-priced chocolate brands, while 24.6% reduced the quantity of chocolates purchased.
Another 18.9% searched for retailers offering discounts, and 7.7% gave up buying “self-reward” chocolates, a popular trend in Japan where women purchase premium sweets for themselves. A small proportion, 3.1%, turned to homemade chocolates as a cost-saving alternative.
A representative from the research firm noted that while rising cocoa prices were already evident last year, this year’s results show the crisis has become more severe and more visible, forcing consumers to either cut back on spending or seek cheaper alternatives to preserve the long-standing Valentine’s Day tradition.
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