Love, Frugal American Style
In 2008, according to the National Retail Federation (NRF),
consumers spent $17 billion on Valentine’s Day. Last year, that number dropped
to $14.7 billion.
At the time, Tracy Mullin, president of NRF, said, “A
bad economy won’t stop Cupid this Valentine’s Day, but it might slow him down.
This year more than ever, consumers will look for creative and inexpensive
ways to show those they love how much they mean to them.”
Now, one year
later and coming up on another Valentine’s Day, will consumers be more likely
to spend on their dear hearts or will they forego fine dining at a French restaurant
for a special reservation-only trip for two to White Castle.
The New York Times reports that marketers are working under the premise
that consumers will be looking to show they care on the cheap, once again,
and are running ads and promotions that emphasize affordability.
the White Castle reference, the company’s website invites consumers to call
selected restaurants and reserve a candle lit table for two where they will
be served by staff. Patrons can even upload their photos to the White Castle
website for all to see. A meal for two that comes with 10 hamburgers, two orders
of fries and two 21-ounce sodas will cost $10.49.
Other offers, cited by the Times,
include Valentine’s-themed candies at Target for $3.99; 15 percent off Martha
Stewart brand flowers at 1-800-Flowers.com; and 20 percent off Figi’s chocolates
and cookies at Walgreens.com.
Discussion Questions: Do you
think consumers will loosen their purse strings this Valentine’s Day? What
types of promotions do you think will work best this year and are there you’ve
seen that stand out for being good or bad?
- Will You Be My Frugal Valentine?
– The New York Times
Goes Head To Head With Economy This Valentine’s Day – National