What will Singaporeans splurge on this Valentine's?

Chocolates, flowers and restaurant reservations rank as the most popular expenses.

Roughly 75% of Singaporeans surveyed said they will be gifting chocolates and flowers to their partners, according to a new consumer research from Kraft Foods. This is in line with 29% of respondents wanting the said items over anything else.

Dining out to a good restaurant also remains a popular choice, with 61% of Singaporeans planning to eat out on the special day, even as recent government data suggests that home cooking is gaining traction as a cash saver.

Apparently, the widespread uncertainty and difficulty faced by Singaporeans hasn't dampened their spending mood, at least for this one-day occasion.

"Despite challenging economic times, more than one-third (34%) of respondents are happy to spend at least US$50 or SG$65 on their significant other on this special day," said Kraft in a release accompanying the survey.

"Some who are feeling the impact of the global economic crisis might be planning to take out a loan to buy gifts for their loved ones," it added, but "over half of the respondents in Singapore are perfectly fine without a gift or a treat. Rather, they are happy to 'just spend some time together' with their valentine."

Singaporeans are also starting to value more the brand and style of gifts (10% from 4% last year) but the vast public or 73% still appreciate any kind of gift believing "it's the thought that counts."

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Tags: Singapore Valentine spending, Singapore Valentine holiday gifts, Kraft Foods