Financial responsibility is becoming more attractive these days, as dating cheaply becomes the latest dating trend.
Driving the news: Nearly 50% of Gen Z singles are embracing frugal dating, a welcome development for those looking for love with less in their pockets due to the high cost of living.
- Consumer staples have been getting more expensive as of late, like food rising by a yearly pace of 11.4% and inflation holding at 6.9% in Canada as of last month.
- Fun kinds of spending like date night dinners are now on the rise, especially since restaurant prices are forecasted to jump by 7.8% before 2023 in Canada.
As a result, people are opting for coffee dates in place of pricey sit-down meals and long, and (these days, cold) walks in the park in lieu of a night out on the down.
Yes, but: Tinder’s parent company Match Group, surpassed earnings estimates last quarter, which signals people still have an appetite for connections and are willing to pay for it
Why it matters: The effects of inflation are reaching beyond the sticker price of a loaf of bread and starting to change how those first connections between humans are made.