Manuel Reyes, the director of the Hibbs Institute at UT Tyler, anticipates high prices lingering.
UPSHUR COUNTY, Texas — Love comes at a cost, and consumers are being more cautious with their cash as inflation and supply shortages push prices up.
Brandy Ferrer, owner of Simply Beautiful Floral Company in Gilmer, has noticed many customers reducing their spending ahead of Valentine’s Day.
“We’ve seen customers spending less money or not spending money at all,” Ferrer said.
Ferrer said businesses that specialize in luxury goods had a difficult 2024.
Manuel Reyes, the director of the Hibbs Institute at UT Tyler, anticipates high prices lingering.
“Prices rarely go down,” Reyes said. “We want to reduce inflation, not prices.”
Inflation is not the only issue contributing to higher prices. Ferrer said there are global factors that those outside the industry might be unaware of. She said roughly 80% of flowers sold in the United States come from outside the country.
“Everything that happens in other countries with their economies and especially with tariffs, rising costs and transportation expenses, it does affect us directly,” Ferrer said. “We rely on the airlines and 18-wheeler transportation to be able to get our flowers.”
She said there are creative ways buyers can save a few bucks: Choose a smaller arrangement or substitute flowers entirely for another gift like a stuffed animal.
