(Image source: MSNBC)

 

BY DAVID EARL

ANCHOR CHRISTINA HARTMAN



February 14th. V-Day. A stress-inducer for millions. But while you’re worrying about the flowers, the chocolate, the bling and the perfect card — your wallet is getting getting a workout. A Wall Street Journal reporter says cut it out.

“This is ridiculous, why is everyone crowding into these restaurants for these grossly overpriced meals when the same restaurant will be half-full, you’ll get better service, better food, for a lot less, a week from now!”

Now, we don’t want to get that reporter in trouble. He later says every day is Valentine’s Day with his wife. But, the point remains. There’s a lot of money that changes hands — all in the name of love — on February 14th. One of the men who gets your money wants you to keep spending. CNBC has the head of Godiva Chocolate...

“It’s our Super Bowl. People want to do the right thing: bring chocolate to those they love. Is this the biggest selling day of the year? Today is the biggest day.”

Fox Business reports just exactly how much chocolate gets consumed. It’s a Valentine’s Day staple, but if you thought Americans consumed a ton of chocolate …  

“European countries by far — twice the amount of chocolate than here in the U.S., so you see, David, based on that, tremendous opportunity for growth.”

AND … price gouging. You think it happens. MSNBC.com proves it.

“Perhaps ITG restaurant analyst Steve West best summed up the spending attitude of consumers — and thus the inflated pricing of some retailers — on Valentine’s Day when he said, ‘Valentine’s Day is one of those days where, if you’re a guy and you have a girlfriend, you’ve got to pony up. You have to spend money in order to make her happy.’”

But even if you boycott Valentine’s Day, that’s not a license to be cheap. SmartMoney just says — what else — be smart with your money. Do it all on any day but February 14.

“Every dollar you save today will be worth many times that by the time you need it down the road. The answer to Valentine's Day isn't to scrimp on flowers ... isn't to take your sweetheart to McDonald's. Do Valentine's Day in style. The whole shebang, if you want. But do it on your own schedule.”

The National Retail Federation estimates vendors will rake in $17 BILLION in all of your predictably pink-colored, sentimentally sappy, and overtly overpriced Valentine’s Day merchandise this year. That’s eight-and-a-half percent more than last year.
 

The $17B Business of Valentine's Day

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Feb 14, 2012

The $17B Business of Valentine's Day

(Image source: MSNBC)

 

BY DAVID EARL

ANCHOR CHRISTINA HARTMAN



February 14th. V-Day. A stress-inducer for millions. But while you’re worrying about the flowers, the chocolate, the bling and the perfect card — your wallet is getting getting a workout. A Wall Street Journal reporter says cut it out.

“This is ridiculous, why is everyone crowding into these restaurants for these grossly overpriced meals when the same restaurant will be half-full, you’ll get better service, better food, for a lot less, a week from now!”

Now, we don’t want to get that reporter in trouble. He later says every day is Valentine’s Day with his wife. But, the point remains. There’s a lot of money that changes hands — all in the name of love — on February 14th. One of the men who gets your money wants you to keep spending. CNBC has the head of Godiva Chocolate...

“It’s our Super Bowl. People want to do the right thing: bring chocolate to those they love. Is this the biggest selling day of the year? Today is the biggest day.”

Fox Business reports just exactly how much chocolate gets consumed. It’s a Valentine’s Day staple, but if you thought Americans consumed a ton of chocolate …  

“European countries by far — twice the amount of chocolate than here in the U.S., so you see, David, based on that, tremendous opportunity for growth.”

AND … price gouging. You think it happens. MSNBC.com proves it.

“Perhaps ITG restaurant analyst Steve West best summed up the spending attitude of consumers — and thus the inflated pricing of some retailers — on Valentine’s Day when he said, ‘Valentine’s Day is one of those days where, if you’re a guy and you have a girlfriend, you’ve got to pony up. You have to spend money in order to make her happy.’”

But even if you boycott Valentine’s Day, that’s not a license to be cheap. SmartMoney just says — what else — be smart with your money. Do it all on any day but February 14.

“Every dollar you save today will be worth many times that by the time you need it down the road. The answer to Valentine's Day isn't to scrimp on flowers ... isn't to take your sweetheart to McDonald's. Do Valentine's Day in style. The whole shebang, if you want. But do it on your own schedule.”

The National Retail Federation estimates vendors will rake in $17 BILLION in all of your predictably pink-colored, sentimentally sappy, and overtly overpriced Valentine’s Day merchandise this year. That’s eight-and-a-half percent more than last year.
 

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