Don't Let Rising Cost of Valentine's Day Break Your Heart or Your Budget
By Juliette Goodrich & Molly McCrea
Americans are expected to spend nearly $24 billion on this year's Valentine's Day, but as you may have noticed, prices have gone up from last year.
Imported Champagne is up 18%. Chocolate is up by 9%. Long-stemmed red roses are 22% more costly as is filet mignon which is 134% more expensive. The pandemic is what lies behind the myriad of reasons behind the rising costs.
"We are living in an unprecedented time," noted Stanford Professor Emeritus of Economics Roger Noll.
Dr. Noll explained that all these cost increases are due to the pandemic: with supply chain disruptions and labor shortages. In the case of long-stemmed red roses, you can blame poor weather conditions and shifting delivery schedules.
"A rose has to be shipped pretty much the day it has to be shipped. Otherwise, it fades," said Noll.
But there are many options to help you stay on budget and celebrate. One big tip: go local and plan ahead.
At Frances and Francis, a florist in San Francisco's Cole Valley, owners Amanda Vidmar and McKenzie Salvucci say you don't need imported red roses to show your love and gratitude.
In the Bay Area, there are plenty of affordable local flowers of all colors currently in season.
"They tend to last a little bit longer because they're not traveling through planes or trucks. We like to use lighter shades of pinks to make it a little bit more romantic," explained McKenzie.
The key to getting what you want is ordering in advance. Vidmar says if you provide a color palette and budget in advance, when they go to the market (which they do daily), they can hand-select your flowers and get them as fresh as can be. But if you are passing by their store or any local florist brick-and-mortar business, walk on in and let them know what you'd like.
"I think coming in and saying I've got a $40 budget to make a really beautiful bouquet for somebody I really love, we can make it happen," assured Vidmar.
As for sweets for your sweetie, KPIX turned to candy guru Carly Schildhaus. She represents the National Confectioners Association. Carly told us you can find a vast array of candy, chocolate and sweets that will fit just about any budget.
"We recommend looking for your favorite and find what fits in your budget," said Schildhaus.
If you go local, visit your neighborhood artisan. They make smaller batches that carry the same price year-round. And "conversation hearts" are always fun and affordable.
"They're one of my favorite treats," explained Schildhaus.
Restaurants around the Bay Area are offering romantic dinners for two. If you don't feel comfortable doing an dine-in experience, most will provide "take-out." Just have a candle at home and voilà! -- a little piece of romance.
Due to the pandemic and attendant labor shortages, restaurant costs may have increased, but that's to cover for staffing challenges and higher food costs.
By the way, friends and family aren't the only ones who get spoiled on Valentine's Day. 27% of pet owners will buy a little gift for their furry friend.
While the prices for pet treats, foods, and supplies have also gone up by about 17%, for many, the price is well worth it.
