Cupid likely to be practical this Valentine’s Day
We may be in for a protracted recession, but Cupid’s arrows are no less plentiful.
For that reason, local business owners who specialize in gifts for tiffany jewellery Valentine’s Day are predicting the holiday Saturday will make for very good business in the Cedar Valley.
That’s not to say they’re sticking their heads in the sand.
“Business has been slower, I’m not gonna lie about it,” said Marty Hansen, the owner of chocolate and wine boutique Indulgence in Cedar Falls. “The recession is definitely being felt here.”
But Hansen, who is also a marketing and management instructor at the University of Northern Iowa, said he’s already seeing more business in preparation for Valentine’s Day than usual. He thinks that’s because people can’t afford big-ticket items for their sweethearts, and so they turn to smaller tokens of affection.
“Here (at Indulgence) you can get a really nice bottle of wine and a really nice box of chocolates, and be under $50,” he said.
Flower shop Flowerama on Kimball in Waterloo is seeing a relatively normal amount of customers for the biggest flower day of the year.
“It’s a little bit different because (Valentine’s Day) falls on a Saturday, and we’re not silver bracelets quite as busy when it falls on a Saturday,” said Katie Clausen, assistant manager at Flowerama. “So far, we are on track.”
Spending money on a romantic dinner for two is another popular way to spend Valentine’s Day, and Barmuda spokesperson Lori McConville thinks that won’t change this year.
“We don’t expect a downturn at all,” said McConville, noting the sweetheart specials at places like The Stuffed Olive, Bourbon Street and Ferrari’s. “As a matter of fact, we’re expecting a big turnout.”
That’s not a naive view to take, said professor Fred Abraham, who heads the department of economics at UNI. He said there was every reason to believe people would still go out and spend money for Valentine’s Day.
“Whether or not people are holding back a little bit — and, by the way, I think that they might be — there won’t be a decline in spending,” Abraham said. “The savings rate in the United States is starting to creep up, but simply because we save a little doesn’t mean we don’t spend.”
Local businesses also benefit from allegiances people feel to their friends and neighborhood stores, said Wartburg College business administration and economics department chair Kim Folkers. People spending money, and spending it close to home, will better benefit the local economy.
“I think there will still be flowers that will be delivered, dinners that will be had. And that’s not to silver cufflinks say people aren’t struggling,” she said. “People have not just locked themselves inside and not come out. I think people are attempting to come out, and I suspect Valentine’s Day will be one of those holidays.”
Contact Amie Steffen at (319) 291-1464 or amie.steffen@wcfcourier.com.