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Valentine's Day inflation impacts small businesses in Las Vegas valley

Posted at 7:37 AM, Feb 11, 2022
and last updated 2022-07-13 19:14:46-04

LAS VEGAS (KTNV) — As Valentine’s Day approaches, love is in the air but the price of flowers, candy and other romantic gifts is skyrocketing. Inflation is impacting the industry, and Las Vegas area business owners are having to offset their costs.

“The flower farmers have raised their prices and so I have to pass it along to their consumer,” Padgett said. “I try to keep my prices at a minimum for my customers.”

Verna Padgett owns After Hours Flowers on Charleston Boulevard and 3rd Street in the Arts District in downtown Las Vegas. She said one of her most popular items is a beautiful display of a dozen and a half red roses which costs $130. Last year she was selling the same arrangement for $100.

This year the price of a dozen roses is up 22%, while high-end chocolate is up 9%. In a survey, the National Retail Federation found that 56% of shoppers will say “I love you” with candy, 40% said they would spend on greeting cards, 37% chose flowers and about a third of respondents planned to gift an “evening out.”

The consumer tracking company reported that 2022 is the second-highest Valentine’s Day on record. Spending on the romantic weekend will reach nearly $24 billion, which is up from $21.8 billion last year.

Some couples will have to get creative to save. Experts suggest instead of going out for dinner, take out or cook a meal with your loved one. Padgett says instead of buying a dozen roses, she also sells a single rose.

“It’s all about the thought that counts,” Padgett said.