A new year brings with it a chance to refocus your business and examine where you need improvement and what opportunities lie ahead.
With the industry’s biggest occasions quickly approaching, it’s likely you’re well prepared for these events. Valentine’s Day and Mother’s Day are two floral-buying holidays that happen every year, and you have experience and knowledge from previous years that you can rely on. But these holidays won’t keep your shop busy year round – you need to give your customers a reason to shop with you outside of these occasions. Everyday gifting is one area that the industry has always struggled in – with all the gift options available to consumers, how can you convince your customers to choose you?
A new report released in December has information to help the industry solve this problem. The study, entitled Consumer Preference for Flowers as Gifts: Age Segments, Substitutes and Perceived Risk, was commissioned by the Floral Marketing Research Fund, with the co-operation of the American Floral Endowment and Asocolflores, and is an in-depth study of the gifting market. The report concentrated on five non-calendar occasions: birthdays, hostess, congratulations, thank you and get well.
The information gathered reveals that there are barriers to floral gift giving, but the report also presents actions florists may take to make floral gifting a more common practice. To increase the gift market growth, florists need to educate consumers as to why flowers make great gifts. Instead of hitting consumers with ads only around key floral holidays, create a campaign that runs year round, or promote everyday gifting on your website and in social media.
Another way to expand this market is to present your product as a gift that friends can give to fellow co-workers, acquaintances and peers – flowers aren’t only a symbol of romantic love.
The study found that the spending on floral gifts ranged from $18 to $35. By offering cut flowers and plants slightly below these expectations, consumers will see flowers as an affordable option. And shoppers want the value to be in the fresh product – respondents said they prefer to spend their money on blooms rather than on containers because they didn’t like excess vases hanging around their homes. You could alleviate this concern by developing a returnable vase program or packaging flowers in disposable, recyclable or biodegradable packaging.
The report also reveals one advantage the floral industry has over other gifting sectors. Giving a bouquet or an arrangement is considered low-risk – you can’t go wrong with flowers. The Floral Marketing Research Fund found that, next to gift cards, recipients are most likely to appreciate flowers, beating out food/candy, plants, CDs/DVDs/books and wine.
As you look ahead in 2011, consider what changes you can implement in your store to boost everyday gifting. It’s a market worth giving extra effort to – your customers will come in more frequently and you can count on steady business to keep you going throughout the year.
Visit the Web Exclusives section of www.canadianfloristmag.com for a link to the full report from the Floral Marketing Research Fund.
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