Valentine's Day: To Splurge Or Not To Splurge Will Always Be The Question
MIAMI (CBSMiami) - Cupid's special day could be a little bittersweet this year as inflation is driving up prices everywhere.
"They want to do better than last year," Maryam McCoy, a manager said.
Maybe things costs more, but orders are not slowing down at Brickell Avenue Flowers shop. It seems customers want to go big this year.
"We actually have had a problem with our supply chains. Most of our business is online and even through the pandemic, people have still wanted to send flowers," co-owner Kevin Duckworth said.
Business may be strong, but what has been hurt is the growing costs of operation.
"We buy really good quality roses, so a single rose might be 50 cents to a dollar, so a single rose might be 50 cents to a dollar, but now it's sometimes triple that price. Across the board all our prices are up, our teddy bear prices are up, about the only thing that hasn't gone up in prices are champagne," Duckworth explained.
Excitement is in bloom, however, the National Retail Federation predicts spending will not match the period right before the pandemic. It estimates the average consumer will spend $175 dollars this year, up $10 over 2021.
"They think about what they'd like to splurge on, and we're really seeing consumers spending a little more on big ticket items like jewelry this year," said Katherine Cullen, NRD Senior Director of Industry and Consumer Insights for Research.
Inflation is estimated to have risen 7% year over year, but Cullen says folks aren't holding back yet.
"We haven't seen that yet on the part of consumers. Certainly that some folks will see a little bit of sticker shock, but again when that happens consumers most often find a substitute maybe they buy a different type of flower, maybe they gift something else."
Of course, there are a couple of tried and true ways to save. First, just wait, celebrate a day later, avoid lines, and chocolates go on sale, or create your own flower arrangements from a discount store. It's heartfelt and cheaper, and if that's not romantic enough, pick a place to enjoy a treat with a view of the sunset.
If flowers are a must, there's a way to save up to $30.
"The best way to save some money is to get it wrapped instead of vased arrangements," Duckworth said.
With that in mind, it helps to comparison shop. CBS4 called five random stores in Miami-Dade County, asking for a dozen roses wrapped in cellophane, something commonly referred to as presentation style.
On opposite ends of Miami, we got $75 and $95. A shop in Kendall offered $85, another in Coral Gables with $95, with one in Doral quoted, $25 for simple cellophane packaging.
Over in Broward, prices fluctuated too. A flower shop in Pembroke Pines said, $55, one in Fort Lauderdale, $75, another in Plantation, $69, Margate, $49, and one place in Hallandale Beach $89.
Then again, you can always skip it.