Cost of love: Brits opt to dine in and scale back as flower prices soar this Valentine’s Day
Last-minute Valentine’s Day flowers are now roughly four per cent more expensive than they were last year, according to inflation data from the Office for National Statistics.
On the day of love, train stations and tube stops have been filled with florist stalls giving partners one last chance to woo their significant other before the big day ends.
One City PM investigative journalist / desperate last-minute shopper discovered a bunch of roses in Leadenhall Market were on sale today for a cool £80.
But more broadly, the price of a bouquet of roses has shot up around four per cent if you look at Wednesday’s inflation reading.
“Outside of the big demand peaks like Valentine’s Day, inflation in our cost base is falling in line with the national trend as energy costs annualise but wage pressures throughout our supply chain remain elevated,” Aron Gelbard, chief and co-founder of Bloom & Wild, told City PM
Amid a national cost crunch, it appears shoppers are scaling back, figures from Barclays show that half of those buying flowers for their partners this year will save money by buying them from the supermarket instead of a florist.
It comes as German discounter Aldi opened its first-ever flower stand in Waterloo station to compete with pricer stalls.
Aldi also said they are selling the cheapest bunch of dozen red roses available from a supermarket this Valentine’s Day, priced at just £4.49 – 82 per cent cheaper than the equivalent from M&S.
As shoppers continue to feel the pinch, couples will adopt a more cost-conscious approach this year and choose to dine in instead of eating out.
‘Big Four’ supermarket Sainsbury’s said Valentine’s Day sales on its £15 ‘Dine In Meal for Two’ are expected to be 50 per cent higher than last year.
At the beginning of this week, sales across champagne and sparkling were up 55 per cent week on week, the supermarket said.