The Valentines’s Day Economy

Happy Valentines Day! An article in today’s Times examines how the recession has hit the industries fueled by romance.

The state of the romantic economy makes intersting reading this year- speed dating figures are up and dating agencies are profiting but jewllery sales are down and florists fear the worst. Overall the ‘market value of love’ appears to have fallen.

History suggest that Valentine’s Day has generally been resistant to economic downturns. Professor Ronald Hutton of Bristol University says that “the day begins in the 14th Century, with Chaucer writing that the birds choose their mates for spring upon this day. By the 15th Century coutiers were sending love tokens to their girlfriends. The day booms further under Victoria when the Valentine’s card becomes common place. it dies out around the time of WW1”

The English got tired of the day around WW1 but it was reintroduced by America as we became part of the American cultural empire. It is a function of fashion, it bears no relation to boom or bust.

Some argue that Valentine’s day has been hit by the downturn- Richard Wiseman of the University of Hertfordshire said that the recession had polarised British attempts at romance. “living with someone becomes cheaper than living alone and people become more interested in having a mate”.

This may explain why dating companies in Britain and America are reporting significant growth. Match.com, an online dating agency, said it attracted 35% more new British customers this month than the same month last year.

Some new and vital credit crunch questions have arisen over the last few days:

Can Travelodge be considered romantic?
Will she know these flowers are from Aldi?
Would the card be cheaper without some of the poetry?

On the website Money Saving Expert this week, a group of romantics were discussing whether a £12 room in a Travelodge constituted a suitable gift. It was generally agreed it was, provided they brought a hamper!!

For Times article click here