INDIANA — Businesses are bracing for one of their busiest weekends of the year, Valentine's Day. Hoosiers are opening up their hearts and their wallets for the holiday, but it might be costing them more this year because of tariffs.
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The National Retail Federation is forecasting nearly $30 billion in sales this year, the highest level ever reported.
From local candy shops to florists, businesses say they are having to spend more, and so will customers.
“Everything’s gone up roughly 10 to 15%,” said Sarah Gillespie, president of Gillespie Florists, a family-owned business on Indy's west side.
Gillespie said tariffs have played a role in higher prices, particularly during cold months when flowers are imported from other countries.
“It has increased the stem cost of just about every flower that we import by nearly 15 to 25 cents a stem. That adds up, you know. We do pass some of that along to the consumer,” Gillespie told WRTV.
It’s not just flower shops feeling the impact.
“We try to keep our costs as low as possible, but we want to be here next year,” said Jay Noel, CEO of Abbott’s Candies, the oldest candy store in the state.
Noel said tariffs have not impacted staple items like caramels and chocolates, but they have affected other items the store carries.
“The only thing that we would get into with tariffs would be the gift items that we carry. We try to find inexpensive but unique gifts,” Noel said.
John Talbott with the IU Kelley School of Business said most Valentine’s Day spending goes toward dining out and jewelry, adding that even those can't escape tariffs.
“Various countries where jewelry is produced may be subject to tariffs as well, and so I would expect that we see some increases,” Talbott said.
The National Retail Federation expects the average person to spend nearly $200 this year, which is up from just under $189.00 in 2025.
For those on a budget, there are ways to save.
“If you want to save money on candy and flowers and things like that, think about a Sunday or Monday delivery instead of Saturday,” Talbott said.
Gillespie suggests looking at simpler options.
“Look at some more affordable options that are wrapped flowers, not necessarily fully based and arranged,” she said. “We try to offer a lot of different options and different price ranges so that everyone can enjoy the Valentine's holiday and show the love.”
They will offer extended hours, 8 a.m. to 8 p.m., through Saturday.
Both businesses are encouraging the community to shop local for the holiday.
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