Industry’s First Plant Pricing Survey Is Open
Late in 2015, I contacted Texas A&M’s Charlie Hall, a leading economist for the green industry, about plant pricing. What studies had been done in this area?
He cited Greenhouse Grower RETAILING‘s 10% Project study on plant pricing elasticity (how consumers react to price increases), Michigan State University’s Bridget Behe’s studies with eye tracking (testing what consumers look at in a plant display, including price tags and signs), and an editorial I wrote about why I think the industry should stop one-size-fits-all pricing on annuals. And that was about all he could think of.
That means the industry has a lot to learn about what works and doesn’t work when it comes to plant prices. With so many retailers and growers operating on slim margins, that knowledge can make a big difference.
The survey is designed to help answer this need.
The questions are designed to learn what methods are currently used, from how retailers and growers calculate their prices to how often and how deeply plants are put on sale.
All responses are anonymous, even to us. We ask about your location so we can see if there are patterns not only regionally, but also within demographics (which is why we ask about zip codes). We’ll share what we learn throughout the third quarter of 2016 in our enewsletters, as well as in our fall print edition of Greenhouse Grower RETAILING.
Based on what we learn with this survey, we will likely set up another extensive research project in 2017 or 2018, coordinating the research expertise from the universities with the real-world experiences of garden retailers.