Consumers Spending, But Not Enough at Florists According

Consumers Spending, But Not Enough at Florists  According

Consumers Spending, But Not Enough at Florists According to the US Bureau of Economic Analysis (BEA), US consumers spent $35.173 billion for flowers, seeds and potted plants during 2017, a 6.0% increase from 2016s total of $33.179 billion. The seasonally adjusted annual rate (SAAR) decreased during the first 3 quarters of 2018, compared to 2017s first 3 quarters, or -1.3%, Q1; -5.4%, Q2; and -5.4%, Q3. Florists benefited from the overall increase for 2017, with total sales of $6.836 billion, a 4.5% increase from

2016s $6.540 billion; however, florists havent performed as well during the first 9 months of 2018, compared to 2017. (See page-1 table in Profiler.) Wholesalers Doing Well Following a good Mothers Day for floral wholesalers, its not surprising that 69.77% of all respondents to the Wholesale Florists and Floral Supplier Associations (WF&FSA) Mothers Day survey expected their sales to increase during the remainder of 2018. 51.16% of wholesalers said their Mothers Day 2018 sales were what they expected, with 25.58% experiencing better than expected sales. More than

70% said their inventories were almost totally sold at the end of holiday. Of those wholesalers responding to the WF&FSA survey, 50% said their Mothers Day prices increased compared to 2017, while 42.86% said they were flat. Floral Sales at Multioutlet Retailers Are Very Green According to IRI data, floral departments sales at multioutlet retailers (supermarkets, mass merchandisers and warehouse clubs) totaled more than $4.7 billion for the 12 months ending August 12, 2018.

The IRI research also revealed a 3.2% increase of average price per unit for all floral categories for the same 12-month period, with arrangements increasing 5% and outdoor plants 4.2%. During this same 12-month period, the floral departments at multioutlet stores in North Carolina, Tennessee, Kentucky, West Virginia, Virginia, Maryland and Delaware had the largest sales increases, or an average of 9.5% Reasons for Floral Retailers To Be Optimistic

With 68% of Society of American Florists members stating they experienced increased Valentines Day sales, and 60% increased Mothers Day sales, it shouldnt be surprising that 48% were optimistic and 16% very optimistic about their total 2018 sales. Among the survey respondents, 75% of growers were optimistic, 25% very optimistic; 71% of the wholesale/supplier/importer segment were optimistic, 14% very optimistic; and 46% of retailers were optimistic, 15% very optimistic. All sectors of the floriculture industry have reason to continue their optimistic outlook, as Arizton, a marketing

research organization, has forecast the US floral gifting market will increase 6.02% annually through 2023, reaching a total of $15.79 billion. Floral Trends for Every Taste According to Florist Reviews American Floral Trends 20182019, a major floral trend is hanami, or Japanese for flower viewing. It refers to the enjoyment of flowers beauty, especially cherry blossoms and sometimes those from plum trees. Crescendo is another trend in the report, which relates to a subdued color palette of gray-lavender with complementary natural elements, such as organics, light

wood tones and herbals, such as basil. Flower Trends Forecast is highlighting the colors and elements of the forest, with ferns, fungi, pods, berries and mushrooms. Textured flowers, such as anemones, orchids and yarrow can be added to this trend palette. Advertising Strategies Although florist shops may not have the budgets for much TV advertising, recommend they run ads on your Website news pages the weeks prior to major floral holidays: Christmas, Valentines Day, Mothers Day, etc. Florists may want to initiate an annual discounted

program in which customers receive a discount and priority delivery when they commit to ordering flowers from the florist for each of the major floral holidays. Based on the insight on page 4 of the Profiler, recommend that florists and floral departments at multioutlet retailers highlight their support of the local economy by offering locally grown plants. New Media Strategies Florists should benefit from the use of case studies/ success stories of how they made a bride happy with her flowers or the arrangements for a business event. Florists can then use their blog and/or social

media to attract consumers to their success stories. The floral business is very seasonal, which provides florists with many opportunities for social media posts featuring new trends in colors, arrangements, etc. for every season. Recommend florists start a monthly email/social media campaign, These Flowers Are for You, to take advantage of the self-gifting trend and to show people how to use flowers to enhance every room in their home and office.

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