By the numbers: Will inflation break hearts this Valentine's Day?

Experts say 48 percent of adults plan to skip Valentine's Day altogether.

Annie McCormick Image
Tuesday, February 14, 2023
By the numbers: Will inflation break hearts this Valentine's Day?
Action News went inside Ten Pennies in South Philadelphia where florists were working overtime to fill orders for Valentine's Day.

PHILADELPHIA (WPVI) -- Roses are red and violets are blue but what could Valentine's Day during inflation mean for you?



Action News went inside Ten Pennies in South Philadelphia where florists were working overtime to fill orders for Tuesday.



Nicole Miles was fielding calls all day.



"Probably over 200 to 300 orders between pick-up and deliveries," she said.



Ten Pennies is seeing the same amount of orders if not more than in prior years, but they also work with every budget.



"If they don't want to do a dozen roses because they don't want to spend the money for that, they'll do a beautiful mixed arrangement," said Miles.



SEE ALSO: Great ways to celebrate Valentine's Day in Philadelphia and beyond | FYI Philly



Christie Illeto and Alyana Gomez host a Valentine's Day-themed FYI Philly.


According to the National Retail Federation, Americans are expected to spend about $2 billion more this year compared to last year.



Roses are up 7.1 percent from a year ago, candy has increased 11.6 percent.



Action News spoke with Sheri Lambert, an associate professor of marketing at Temple University.



"We're finding with the gift giving that people are being more creative. And so, part of that creativity might be that gift basket type thing, but it might be: let's go do something that's experiential," said Lambert.



At 21st Street and Passyunk Avenue, we found creative baskets complete with candy and teddy bears starting at $30, if you choose not to make your own.



But just as some are cutting costs, Lambert says one category of romantic gifts is seeing an increase in sales.



"People are saying that their spending on jewelry is up. I think that's surprising because I think that there is a concern out there that inflation is happening. We're going into a recession. All the things that we keep hearing about," said Lambert.



Experts also say 48 percent of adults plan to skip Valentine's Day altogether.

Copyright © 2024 WPVI-TV. All Rights Reserved.