Lovebirds are being forced to celebrate Valentine’s Day on a tight budget this year thanks to the loveless economy.The romantic holiday is being hit by tough times this year, and spending is expected to drop to $28.6 billion — down 4.8 percent from 2008, according to IBIS World, an industry market research provider.Todd Heroman, manager of Billy Heroman’s Flowerland on Perkins Road, said people will still buy their special someone a gift, but at a lower price.”Instead of a dozen roses, with chocolates and a teddy bear attached, it may just be roses,” he said. “They’re still going to send [gifts]. It’s just a matter of what they’re going to send.”Heroman said Valentine’s Day is their busiest day of the year, and the flower shop expects to make between 1,800 and 2,000 deliveries Friday and Saturday.Heroman said the average customer usually spends $55 to $75 on flowers for the holiday.The average U.S. consumer is expected to spend $102.50 on Valentine’s Day gifts and merchandise, according to an annual U.S. National Retail Federation survey — down from $122.98 in 2008.Thomas Colosino, architecture senior, said he and his girlfriend decided to split the cost this year.”I’m pretty close to broke,” he said. “She’s buying dinner. I’m buying flowers, and we are splitting the movie.”More consumers are opting to save money by sending more greeting cards this year. Consumers are expected to purchase more than 190 million Valentine’s Day cards — the second most popular card-sending holiday after Christmas, according to the Greeting Card Association.J.P. Picard, business management sophomore, said he plans to spend about $30 on flowers and a card for his girlfriend this year.”We are keeping it simple because I’m on a budget,” he said.Juban’s Restaurant on Perkins Road is offering its a special Valentine’s Day menu Saturday. A five-course meal will only cost $45 compared to the regular price of $75.”This is a little bit less than we’ve done in the past,” said Michael Plauche, Juban’s manager. “We’re still very luxurious in people’s minds, but our menu is a little more affordable than it was last year.”—-Contact Leslie Presnall at [email protected]
Students cut back on Valentine’s Day spending
February 12, 2009