One of the most important aspects of a business is knowing who your audience is. Who are you selling to? What do they buy? Just like any other business, the floral industry relies on this information to thrive. Today’s TrendTracker will delve into what designing and selling flowers looks like in today’s market.
When one thinks of flowers, they often think about women. Females appear to be the ones who buy or receive flowers. Statistics support this conclusion.
According to the Society of American Florists, women represent 79% of the sales earned by the global floral industry each year. This is incredibly important information because it can help guide flower shops on a successful path. By understanding who is buying their flowers, shops can advertise to those groups. By focusing on women, revenue could increase.
Another important aspect to a florist’s sales is the reason behind the overall purchase. Floral holidays are among the biggest revenue generators. Statistics show that 30% of floral transactions occur during Valentine’s Day. This represents 28% of the dollar volume experience for all the holidays.
Besides Valentine’s Day, Christmas and Mother’s Day are also huge revenue generators. Purchases on Valentine’s Day and Mother’s Day look different to a florist. Most everyone has a mother, but not everyone has a significant other.
It is very important to know what types of flowers are being bought on these holidays. Valentine’s Day sales typically consist of roses and other high-dollar floral designs while Mother’s Day sales consist of a variety of mixed arrangements and designs. In fact, 84% of consumers purchase roses on Valentine’s Day.
Working with that information, shops can put a larger focus on roses, rather than other flowers. The same goes for other holidays and occasions. Know what sells and what doesn’t. Both holidays are vitally important to a shop’s success. It is important to design according to the audience in which the holiday is based.
Another holiday that is additionally important to floral sales is Christmas. Christmas can be as successful of a revenue generator as other floral holidays when approached properly. How a flower shop markets to their consumer during Christmas often reflects on their shop’s overall success through this holiday.
A larger focus should be put on these holidays. Shops can have special deals and promotions for these events to draw more people into their shops. Capitalizing on what is already a successful holiday can improve your shop’s status.
Knowing your shop’s demographics is key. Shops can easily go out of business if the owner doesn’t understand their audience. Take your time and research your shop. Learn what products work and what doesn’t. By knowing your demographics in-and-out, you are one step closer to success.