Coming up this week

Monday, February 12, 2024 by Snacks

Two dozen roses… and a bottle of Veuve. The romance industry is gearing up for Valentine’s Day on Wednesday. More than half of consumers plan to celebrate the love-themed holiday, and the National Retail Federation expects nearly $26B in spending on everything from prix-fixe dinners to Hallmark cards. Splurges on jewelry and flowers are expected to hit records. Love-aligned corporations including 1-800-Flowers and Hershey, which both recently reported, could see a passion-powered pop. Meanwhile, dating app giants like Match and Bumble could enjoy a swipey boost while love is in the air.

Red envelopes and moon cakes… Dragon signs, rise up: it’s the Lunar New Year. Most Chinese consumers expect to spend $350+ each shopping for themselves and loved ones, and analysts estimate total spend could tally up to $1.1B. Luxury brands are firing up special products for the occasion (picture: Fendi bags ft. Dragonite). The holiday’s also huge for OOO messages, with 9B (yes, billion) domestic trips expected across 40 days — nearly 2X last year’s travel szn. Lunar spending could help China’s struggling economy. But as average salaries drop in major cities, folks may choose to put their dragon-themed splurges on ice.

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