How the high cost of living is impacting Valentine's Day

Roses are red, chocolate is sweet – the high cost of living may have people paying more for their Valentine’s Day treats.

According to new polling data from marketing firm Caddle and the Retail Council of Canada, more than 83 percent of Canadians surveyed expect to spend the same, if not more on their sweethearts this year compared to last.

“People are going to be more cost conscious in terms of how much money they have available to spend and what they’re going to be willing to spend as well,” said Manitoba Chambers of Commerce president and CEO Chuck Davidson.

Those same survey results suggest the number of Canadians celebrating Valentine’s Day has dropped to 39 percent from 48 percent in 2023.

The new numbers have left some local business owners, already feeling a financial squeeze, worried about their bottom lines.

“I see an increase in every single type of ingredient that we purchase,” said owner Constance Menzies.

Menzies said the store and its sweets aren’t immune to inflation.

“After a while, when everything across the board is going up, we do have to increase prices,” Menzies said. “And that’s uncomfortable for everybody.”

Recent polling data from marketing firm Caddle and the Retail Council of Canada on Valentines 2024.

According to the data, of those feeling festive, most survey respondents said they’ll be spending money on treats and restaurant outings with their loved ones, followed by flowers – something Osborne Florist is counting on.

“Every day, as the day gets closer, the orders start coming in more,” said Osborne Florist owner Oriana Marinelli.

So far, the store has seen less orders than usual for this time of year. But Marinelli said she is hopeful for a last-minute surge ahead of the celebrations.

“It’s not like Christmas or Mother’s Day where they pre-plan,” she said. “So we’re hoping that that rush comes in and we’re here, ready. Lots of flowers ready to go.”

Experts say, despite high prices, love can still be in the air.

"Special occasions still are important to many, many Manitobans,” said John Graham, Retail Council of Canada government relations director for the prairie region. “And they tend to want to celebrate them in the best way that they can.”