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Couples may be more boring than their single mates, but even go-it-aloners with only this to look forward to on Valentine’s Day might be breaking retailers’ hearts. 💔 According to Trustpilot, inflation could be trying to break up the 2023 love story. They asked Americans whether they’ll spend on romance this year and 41% said ‘love isn’t in the budget’ at all this V-Day, with 23% ‘on the fence’. Of those whipping out the wallet, 66% plan to spend less. And only a quarter of Kiwis are saying it with flowers this year. 🥀
Forbes painted a slightly rosier picture with plenty planning a Valentine’s flex. 😍 Forty percent say they’ll spend more than last year, with Gen Zers and Millennials the most generous at 59% and 44% respectively. Perhaps not surprising with younger people embracing buy now pay later (BNPL) to treat partners (which comes with its own red flags 🚩🚩🚩).
It may be heartbreaking news for those looking for a Hershey’s (HSY) kiss, however. 💋 According to The Balance, choccie treats cost 12% more today than last Valentine’s Day. Fancy dinner dates may be off the menu too. Increased labour and ingredient costs has hiked the price of eating out, typically 8.2% more than a year ago. And while they’re popular dining options amid recessionary fears, fast food dates at McDonalds (MCD) and Taco Bell (YUM) might be a fast-track to singledom for wannabe cupids. 🌮
It could be good news for 1-800-Flowers.Com (FLWS) though, with the cost of a dozen red roses in the US down a surprising 5% on last year. 🌹 And Victoria's Secret (VSCO) Galentine’s inclusive body campaign may be as much a hit with shoppers as it’s been for investors, who’ve seen share values increase 26.6% this year (YTD).
Warner Bros (WBD) may want daters to pony up for Magic Mike’s Last Dance to bump up their US$8.2 million slow Super Bowl Weekend takings. And the world’s largest diamond jewellery retailer, Signet Jewelers (SIG), which has seen revenues up 33% from pre-pandemic levels and tripled profitability, may be hoping for a bumper night of people popping the question. 💍
For Kiwis battening down the hatches, however, perhaps the most generous way to show love this year might be buying a dozen eggs? 🥚
We’re not financial advisors and Hatch news is for your information only. However dazzling our writing, none of it is a recommendation to invest in any of the companies or funds mentioned. If you want support before making any investment decisions, consider seeking financial advice from a licensed provider. We’ve done our best to ensure all information is current when we pushed ‘publish’ on this article. And of course, with investing, your money isn’t guaranteed to grow and there’s always a risk you might lose money.
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