Valentine's Day splurging is so last year.The current recession and a loss of more than 2 million jobs has made home-cooked candlelit dinners, handmade cards and a bit of creativity all the rage. Don't expect diamonds or special-delivery flowers this year.
According to Brand Keys in New York, a brand and customer loyalty consulting company, Valentine's Day spending is expected to decrease about 15% this year. This year's special day will fall on a Saturday, leaving florists in the dirt. No one will be ordering flowers for the office.
For those still set to celebrate a night out, hotels and restaurants are lowering prices and are offering special discounts and promotions. The Associated Press reports The Ruth's Chris Steak House is offering a special three-course meal, called "Ruth's Classics". The price? $40, much less than last year's $150 special for two or the average $75 dinner check. A three-star hotel in Miami's South Beach will be $136, and a three-star hotel in New York's trendy SoHo will be $96. Mark Lomanno, president of Smith Travel Research shows this holiday weekend is set to bring in an additional $250 in U.S. hotel revenue.
What else is a consumer to do? Get creative. The Star Tribune reports Ruth Hayden, a Twin Cities-based financial educator is picking another day in order to save money. She wants to celebrate, and is going to beat the system.
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