2009.01.29
Slim budgets for Feb. 14
Yesterday we talked about Valentine's Day dining. Today, the official forecast is out on how much people will spend for this national holiday of love.
The National Retail Federation says consumers plan to scale down a bit this year. Perhaps, you'll receive a half dozen roses, rather than a dozen. Or instead of a large heart-shaped box of rich chocolates, it will be a small, square version.
Whatever the item, you'll probably spend less. According to the survey by BIGresearch for the NRF, the average person will shell out $102.50, down from $122.98 last year.
Still, flowers remain the most popular gift that people plan to buy their significant other. This year, 35.7 percent of consumers will purchase flowers, compared with 35.9 percent on Feb. 14, 2008, according to the survey. Also, 16 percent of the people surveyed will buy jewelry, down slightly from the 16.6 percent who purchased jewelry last year.
But, more people said they will send Valentine's greeting cards this year, compared with last year. That's 58 percent this Feb. 14, from 56.8 percent in 2008.
"Valentine's Day this year will be more about small tokens of affection rather than extravagant purchases," said Phil Rist, executive vice president of strategic initiatives for BIGresearch, in a news release today.
It may not be so much cutting back as so many people are loosing their jobs. Nearly every day you turn the TV on another company is cutting back or closing it's doors all together.
Comment by Mike D — January 30, 2009 @ 12:51 am
Whatever you do, make sure you pay cash---do not charge it!
Comment by Pat — January 30, 2009 @ 8:36 am