00:00 Valentine's Day has blossomed into a multi-billion dollar industry.
00:06 But as technology transforms the business of love and romance, what does the future
00:11 have in store for this special day?
00:18 Welcome to the Exchange from our studio here in Doha.
00:22 Now February has been the month of love since the 14th century.
00:27 But over the years commerce has caught up and now Valentine's related business generates
00:32 billions for companies worldwide.
00:35 More than half of all adults with a partner plan to celebrate Valentine's Day according
00:39 to the research company Ipsos MORI.
00:42 The special day is most popular in the United States where three quarters of all couples
00:47 typically take part.
00:49 And all this enthusiasm translates into massive amounts of money.
00:53 The National Retail Federation reported that in the US alone, Valentine shoppers spent
00:58 almost $26 billion in 2023.
01:02 The business of love is booming in Europe too.
01:05 More than half of all couples in the United Kingdom, France and Spain also join in with
01:11 shopping and celebrations.
01:13 One firm facing frenetic demand in February is the luxury hotels and resorts group Four
01:18 Seasons.
01:19 I spoke to their president of Europe, Middle East and Africa, Adrian Masurli, and he explained
01:25 the importance of giving guests a Valentine's experience that's both familiar and surprising.
01:33 Those are events that we are particularly meticulous in the way that we anticipate and
01:39 prepare for them.
01:41 Because ultimately we are in the business of creating memories that we hope that last
01:46 for a lifetime.
01:47 And our teams are extremely dedicated in creating that magic when we have those particular events.
01:54 We are equally strong in celebrating eight periods, Ramadan periods, and also Lunar Christmas
02:01 that is more in the Asian part of the world.
02:03 And each hotel really curates special events in order to celebrate this moment.
02:11 Lessons in love there from a company that's been curating romantic experiences since 1961.
02:17 And to better understand this link between traditional romance and modern business, we
02:23 sent our reporter Cyril Feneres to Paris, the city of love, on a mission to meet the
02:28 entrepreneurs making Valentine's Day a more eco-friendly affair.
02:35 Hello Guy and welcome to the famous Pont des Arts here in Paris, the city of love.
02:40 A few years ago there used to be so many love locks on this bridge that part of it fell
02:45 into the sand.
02:47 Now as you can see, glass panels have replaced the traditional wire fencing because saying
02:52 I love you should not damage the environment.
02:56 Here are a few tips for a sustainable Valentine's Day.
03:06 We all know there's nothing like a flower's bouquet to please your soulmate, but which
03:10 one?
03:11 We asked French actress Marie Coulongeau, who runs a sustainable flower shop in Paris,
03:16 for her advice.
03:17 First tip, don't rush into roses.
03:19 It's important to stop representing roses as a symbol of love.
03:25 First, because it's not the most popular flower for women.
03:27 And second, because we don't have roses in Europe for Valentine's Day.
03:31 I encourage everyone to buy local flowers.
03:34 If you want to please your soulmate, give him a beautiful bouquet of renoncules, anemones
03:40 from Mimosa, or a beautiful bouquet of tulips.
03:43 Don't forget to ask for the origin of these flowers.
03:47 They have to come from your region.
03:55 Chocolate is also a highly prized aphrodisiac for lovers the world over.
03:59 But here, more and more businesses pay attention to its composition.
04:03 For this vegan and fair trade chocolatier, it's not just the taste that counts.
04:08 I advise you to put as a base a chocolate that is ethical.
04:13 It has to come from a country that doesn't deforest.
04:17 And it has to be very good in terms of taste and nutrition.
04:22 So, not too sweet, or if it's sweet, sweet with a fruit.
04:27 A natural, organic, healthy product.
04:30 Fortunately, a stroll through the streets will not emit any CO2.
04:35 And a kiss is often worth a thousand presents.
04:39 That's it, Guy.
04:40 The Parisians guarantee that your other half will be delighted, and that the planet will
04:44 thank you later.
04:47 Now climate consciousness is not the only trend impacting the business of love and romance.
04:53 I caught up with stock market analyst Mike Ingram, and he explained what financial markets
04:59 want on Valentine's Day.
05:03 It's only really since the 1980s that we've seen quite something quite intense commercialization
05:10 of this event.
05:11 Data's only really been collected within the last 20 years or so on what exactly is being
05:17 spent on.
05:18 Though it seems that the trend is very firmly up, and the amounts involved now are actually
05:23 very large.
05:24 For instance, in 2023, it's believed that in the United States, total expenditure on
05:31 Valentine's Day was pretty much in the region of $26 billion.
05:35 And of course, the United States is not alone in celebrating this event.
05:40 So it is big business these days.
05:42 In terms of what's being spent within that, I mean, there are clear regional differences.
05:48 I mean, for instance, in the UK, we are by all accounts the biggest card givers per capita
05:55 in the world.
05:56 I'm not sure to what extent that data really holds up, but it certainly feels like a lot
05:59 of people spend a lot of money on sending a lot of cards in this country.
06:04 In the United States, it seems to be skewed towards events, experiential gifting, and
06:14 then things like chocolates and dining out and so on and so forth.
06:20 Valentine's Day then still has the power to win the hearts of the toughest trading floor
06:25 analysts.
06:26 Now, it's time for our regular feature business in 60 seconds.
06:30 Start the clock.
06:31 Krispy Kreme have their Q4 earnings release.
06:34 The iconic donut brand recently published their B-Suite responsibility report, a global
06:39 pledge that covers a range of good deeds from fundraising to tackling food waste.
06:45 Lazy Boy Incorporated update on their 2023 third quarter performance.
06:50 The 100-year-old famous furniture business embarked on a huge program of tech transformation
06:56 last year that investors will be hoping should now start to help win more customers and create
07:02 company-wide efficiencies.
07:05 And Warner Brothers Discovery published financial results for the final quarter of 2023.
07:11 The vast media and entertainment conglomerate lost millions of streaming subscribers last
07:16 year and a drop in advertising revenue impacted the share price.
07:21 However, initiatives such as the major podcast deal with Spotify have been warmly welcomed
07:27 by analysts.
07:28 From stock market analysts to eco-campaigners, the world is far from falling out of love
07:34 with Valentine's Day.
07:36 Despite cultural changes and advances in technology, it seems that for now at least, the business
07:42 of love endures.
07:43 Well, that's all we have time for on this edition of the show.
07:47 Thank you for watching.
07:49 Please do check out Euronews.com for all your latest business news.
07:53 And join us again next time on The Exchange.
07:55 (upbeat music)
07:58 [MUSIC PLAYING]
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