Three Takeaways from the Society of American Florists’ Industry Survey
The Society of American Florists recently surveyed the floral industry on sales results so far in 2021. The results point to 2021 being quite a busy year for the industry and it doesn’t seem to be slowing down anytime soon.
Here are three takeaways from the survey.
Sales Are Still High
90% of respondents said their sales increased in the first half of 2021. The majority of these respondents said their sales were up between 11% and 30% compared to 2020. A quarter of respondents said they were up more than 30%. Respondents also reported their profits were substantial, with 90% reporting gains in net profits.
Why Are We Seeing Sales Going Up?
There are a few keys to why sales are high. The first is a natural rebound from early 2020. The slowdown was mostly caused by wedding cancellations and postponing life ceremonies in general.
Some survey respondents stated their uptick in sales was due to changes they made to their business. These changes include new gift baskets, additional plants, improving their websites and online shopping experiences, and new apparel.
How Are Florists Handling the Extra Cost?
Costs are on the rise. Many florists last year had to up their prices to cope with the supply chain and cost of goods. Despite these increases, however, these price increase did not appear to affect florists’ sales.
This shows that consumers are understanding and willing to pay higher amounts for their flowers. This also means with the cost of labor, perishables, and hard goods increasing, florists can raise their prices without fear of too much loss.
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