Valentine’s Day spending down in Mississauga, Brampton and the rest of Canada
Published February 10, 2023 at 5:58 pm
Valentine’s Day gifts are leaning towards thrifty as Feb. 14 closes in on Mississauga, Brampton and elsewhere.
It seems inflation has left fewer arrows in Cupid’s quiver as spending is down 2.8 per cent from last year, dropping from $64 in 2022 to $62.20 this year.
However, this has been the trend since the pre-pandemic year of 2019 when it hit a high of $94, meaning it has shrunk by 33.8 per cent since then.
When trend analysts HelloSafe conducted a survey during the month of January, 63.3 per cent admitted that inflation will have a negative impact on their spending this year.
That said, after three years of home confinement and restrictions, restaurants could see a big boost as those thinking of going out on Valentine’s Day is up 111 per cent.
Having a romantic dinner at home is still the best option for 31.1 per cent of the poll’s respondents celebrating Valentine’s day this year.
That said, there will always be those big spenders as 8.3 per cent said they will be spending more on Feb. 14 this year.
For a full look at the HelloSafe study, check HERE.insauga's Editorial Standards and Policies advertising