Cash crunch does not put a dent in Valentine’s Day sales

AMMAN — Despite high inflation and cash scarcity, many Jordanians are celebrating Valentine’s Day in the hope of spreading more love in the world. 

Hearts, roses and big red teddy bears filled the streets of Amman on February 14 in celebration of Valentine’s Day. 

The holiday is typically associated with giving gifts, going out to dinner and showing appreciation for loved ones. 

It goes without saying that such activities demand significant financial outlays, which in turn have effects on the national economy, especially in light of the harsh economic conditions facing Jordanians. 

“Apparently, Jordanians decided to celebrate Valentine’s Day this year,” said Rebhi Allan, president of Jewellery Shop Owners’ Association. 

“Demand for gold and jewellery have picked up from 15-25 per cent nationwide so far,” Allan told The Jordan Times.

Allan added that this year’s Valentine’s Day demand is higher than previous years. Demand might increase further because many people buy gifts late at night or the day after Valentine’s, he said. 

Meanwhile, Amal, a florist, said that this year, Valentine’s Day is “so busy”. 

“Thank God, demand is very high today, I had to order more red roses and plants to restock my shop,” Amal told The Jordan Times. 

In these harsh economic conditions, people tend to buy symbolic gifts that have sentimental value, Amal said. 

An owner of several jewellery shops who preferred to remain anonymous told The Jordan Times that demand increased over 30 per cent in the days leading up to Valentine’s Day. 

However, many of his clients are purchasing their gifts on credit cards or through year-long installments. “Very few are buying with cash,” said the source. 

“Valentine’s Day is observed as a day to show love to people you care for,” Jordanian Sari Smadi told The Jordan Times. 

Smadi added that gift-giving between friends and relatives may also take place on this day. However, the holiday is traditionally understood as a day for couples. 

Meanwhile, Anas, who was spotted at a flower shop, said that this day means a lot to his wife. 

“Despite the fact that I had to deal with a significant cash deficit, making it challenging to get a hold of cash to buy my wife a gift, there’s always a way to make her day; a simple bouquet of flowers will make her day,” Anas told The Jordan Times. 

It is important to note that while getting access to money may not be completely impossible, the cost of gifts has become much higher compared with previous years, Anas said.