Tuesday, February 15, 2011

The effect of Valentine's Day to the economy

I find it interesting that people act like bees during the day of romance. They go all the way to Dangwa to buy flowers at a “more” reasonable price while those who are very busy and just buy flowers from the nearest flower shop find adding a few hundreds a “convenience” fee. Nonetheless, flower shops’ business boom on this day (and probably also a few days after since it is payday the following day).

Chocolate shops and supermarkets’ sales also rise on this occasion. People turn on their sweet “teeth” and drop hints to their loved ones that they want chocolates or sweets in general to have a proof of their sweet relationship.  

Same boom is experienced by restaurants (may it be fast food or fine dining). Couples and families eat out and take this as an opportunity to catch up or get to know each other better.

Hotels and other places offering accommodations also experience an upsurge in sales for most couples would like to have an alone time with their loved ones (well, it is not really alone time since there are two people involved but hey, that’s what they call it).

Cinemas also have higher ticket sales during the month of love since this is a typical activity during dates.  

Telecommunications companies also benefit from this occasion as several people call or send SMS to their loved ones.

Moreover, bookstores and stationary shops also experience higher sales with people buying love cards, heart-shaped balloons and cut-out boards, and even fake flowers (which will last forever but could also be perceived as a symbol of PLASTIC love).

And if we think further, even salons and spas earn more on this special day as people are more motivated to be their prettier and more handsome selves for their special dates. Interestingly, pharmacies also earn more on this day because of the increased demand for you know what.

If we think about it, Valentine’s Day could be deemed as Victory Day for the economy for people are inclined to spend money… lots of money. Then again, are there businesses negatively affected by the V-Day?

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