Expect to pay more for Valentine's Day roses, gifts, experts say
NAPANEE, ONT. -- The price of love is going up this Valentine's Day.
Costs on everything from chocolates to flowers have gone up, because of inflation and supply chain issues. However, businesses say that you can be prepared and save.
Shelly Poffley has been specializing in getting customers their dream bouquets for their loved ones for more than 20 years.
The owner of Napanee Blooms in downtown Napanee says this year, she’s seen her costs go up more than ever before
"Last year we were charging $89 for a dozen long stemmed red roses and that’s from our premium firm out of Ecuador," Poffley said. "This year we are charging $120."
Poffley says for the holiday prices usually go up, but this year, she says COVID, surging fuel prices and the supply chain are all adding costs to her bottom line on everything from roses to vases.
"Our suppliers aren’t guaranteeing products to us and so we can’t guarantee products to our clients, so it is important to pre-order," she says.
At Cocoa Bistro, owner Audry Brown says the price of their popular truffles have had to go up for the first time in two years.
Brown says that’s because suppliers are raising their prices too.
"Normally the percentage increases for chocolate would be in the two to three per cent every so often,” Brown explains. "Now we’re seeing more often raises of 5, 8, 10 per cent."
She says packaging is also seeing price increases, and with supply chain issues, can be tough to get a hold of.
"It used to be that you could get Valentine boxes very easily, just a few weeks before Valentine’s Day. Now we’re being told we have to order months in advance.”
Ken Wong, with the Smith School of Business at Queen’s University in Kingston, says even the cost of a romantic meal is higher.
Still, Wong says it isn’t slowing shoppers down, with people set to spend more on average than ever before.
"People 35-44 you’re probably looking at something in the order of $280,” he says. “With men spending roughly twice as much as woman on Valentine’s gifts.”
Businesses say they’re not seeing customers shy away.
If you’re looking to save, Poffley says work with your florist, and consider a mix of flowers in the bouquet.
"If somebody's budget is $30 to $40 then we can do up something lovely,” she says. “And if someone’s budge is $100-$150 we can do that too."