Consumers urged to be aware of Valentine's Day gift price hikes

JOHANNESBURG - Those planning on spending money and spoiling their loved ones on Valentine's Day are being urged to be careful of increased prices for gifts.

Last-minute purchases are expected to drive up retail sales as some consumers scramble to buy spoils to make Wednesday extra special.

CEO of Debt Rescue, Neil Roets, said that people should not be caught in a debt trap after spending big for Valentine's Day.

"Retailers also know that people are spending a lot of money on this day to please their loved ones, and that’s why unfortunately, prices, for example, flowers, go up dramatically."

Roets said consumers should spend within their means.

"We expect people who are already overindebted to be pushed over the edge and fall further into poverty where they cannot afford to pay their service providers simply by spending money on days like this. So, it’s important that people realise that they spend what they can afford."