Consumer spending on Valentine's gifts will decline by $2.3 billion this year, according to the National Retail Federation. Despite that unfavorable forecast, the National Retail Federation says consumer confidence remains high in one Feb. 14 staple — flowers
"A bad economy won't stop Cupid this Valentine's but it might slow him down," said Tracy Mullin, president of the federation. Valentine purchases including cards, dining out, candy and flowers are projected to total $14.7 billion, down from an average $17 billion over the past two years.
Several Manatee County florists are aware consumers will be on a budget and are making their plans accordingly.
"We are preparing for Valentine's, knowing that sales would be down," said Janet Morris, manager at Flowers by Don. Morris anticipates Valentine's sales may decrease by at least 30 percent from 2008.
Consumers are expected to buy flowers at the same rate they did last year, but will spend about $20 less. According to a survey of 8,850 consumers regarding their spending habits this Valentine’s Day, 35.7 percent of consumers will buy flowers compared to 35.9 percent in 2008.
So instead of lavish floral arrangements or bundles of roses, florists are offering arrangements of less expensive flowers.
Read the complete story at bradenton.com