Wednesday, February 13, 2008

It Feels Like the Third Time; It Feels Like the Third or Fourth Time

Article on economics of Valentine's Day in Oz.

Consumer advocate group Choice says the price hike [dozen roses for $150!!] is a case of textbook economics.

“To sound very economically rational about it, Valentine’s day is the perfect illustration of supply and demand, which at its most naked is not very romantic,” spokesperson Christopher Zinn said.

He suggested prospective romantics substitute roses for other flowers, which presumably wouldn’t cost as much – if they are available.

“These kinds of events like Valentines day and Easter, they are a bit of a marketing goldmine,” he said.

It’s not just florists that are making the most of the day. Most restaurants offer Valentine’s Day specials when more often than not, you’re not actually saving.

Sydney’s Aria Restaurant usually has a seven-course tasting menu, including wine, for $250. On Valentine's Day, that price becomes $295.

It may seem like a rort, but some restaurants say it’s the worst day of the year.

“People have too high an expectation of what's going to happen; it creates a really strange atmosphere with all those couples, and if something's going to go wrong it always goes wrong on those nights,” an industry veteran told the Sunday Telegraph.

A rort? I feel old.

1 comment:

MD said...

"Rort" is a fine piece of Aussie slang. Generally it means something is a rip off, although it can be used in a few different connotations to mean different things. It can also be used to describe political fraud (electoral rorting), or a nice cushy job where you are underworked and overpaid.