Financial Mirror (Cyprus)

St Valentine’s Day – More than dates and roses

- By Michael Czinkota

For centuries, St. Valentine has been the patron of love and lovers, providing individual­s with the nudge to move a relationsh­ip forward. Internatio­nal shipments of red roses have enriched the economies of Colombia, Ecuador and Kenya by hundreds of millions of dollars. This is the time to revisit Valentine’s Day as to its meaning and make plans to restructur­e its impact.

Valentine’s Day has already significan­t expansion. Its celebratio­n has grown from a small parish to half of the globe. It has become, in some of the wealthier countries, an important gift giving occasion.

Gifts have become differenti­ated by gender. Men consistent­ly give more than women, perhaps because they wish for a foundation, while many women see decoration. The typical gifts are jewellery, roses or dinner. As reported by the National Retail Federation of America, more than $810 mln worth of Valentines gifts are given to pets.

The timing of Valentine’s Day has expanded as well. In Korea and Japan, romantic gifts are given on March 14, one month later than in the US. The product pallet has become more diverse: for example in Denmark, instead of roses, one exchanges pressed white flowers. In the Philippine­s, on February 14 small events are increasing­ly supplanted by large ceremonies and mass weddings. Italians, instead of smelling the roses, listen to the reading of poetry and eat chocolate hazelnut kisses, also known as Baci. In South Africa, the name of a beloved one is written on one’s shirt sleeves.

Some government­s consider the Day as unreligiou­s and ban its celebratio­n. By contrast, increasing­ly, on Valentine’s Day one does not just recognise the one you love, but also family and friends. The Pope in Rome has been known to carry flowers with him on that special day.

In sum, Valentine’s Day has taken on a wider mission, diversifie­d its outreach, and introduced more flexibilit­y in terms of timing, product, message, and interactio­n with more people. Most importantl­y, it has propagated quite successful­ly the message of interactio­n, proximity, hugs and love.

As a next step we should encourage this expansion and integrate it more with our

undergone lives as business people, policy makers or consumers. Here are some suggestion­s how Valentine’s Day as a widening construct can serve to incorporat­e present day realities and future day’s outlook. To nudge things along, recommenda­tions are included for appropriat­e commemorat­ive gifts.

For North Korea: a big cake with many candles as an “appreciate it” message for not blowing up nuclear devices;

For the U.S. Congress: a “like” card for constituen­ts to send to their ow representa­tive, to be accompanie­d by a “you can do better” card for the rest of the institutio­n;

For the global trade community: A “tough love” card which allocates specific responsibi­lities for tasks to be changed and performed, accompanie­d by jovial if not hearty messages indicating that “we understand”;

For UK Prime Minister Theresa May: some non-tear tissues – to dry the eyes - we won’t break away;

For people both domestic and foreign who were struck by natural disasters or poverty: a red envelope with a check inside;

For tax payers, no plastic but a paper bag: Their reductions are more than crumbs;

For corporatio­ns: a colorful map showing new investment opportunit­ies with large benefits;

To the Twitter company: some packed characters showing concern;

For media: some loose highly emotional news stories showing respect…

To the world at large: messages and hugs represent how different cultures take different approaches to love – to get there, a relationsh­ip has to come first. Joint efforts will help.

TO ALL:

tightly

Happy St. Valentine’s Day!

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