Even in this loveless economy, chocolate and a candlelit dinner have a date for Valentine’s Day. Diamonds and special-delivery flowers, though, are on the outs.
Lovers have their pick of promotions from restaurants and travel companies sensing an opportunity with Valentine’s Day falling on a Saturday this year. But that same calendar quirk may be making losers out of florists, since sweethearts won’t be ordering bouquets to the office.
Given the disappearance of more than 2 million jobs and many trillions in investments in recent months, many of the commercial trappings of romance may be in for a downsizing.
Research firm IBISWorld Inc. predicts spending for Valentine’s Day this year will fall to $28.6 billion, 4.8 percent below last year. The firm expects couples will choose chocolates or greeting cards instead of pricier gifts, such as jewelry and expensive dinners.