CHICAGO, April 11, 2023 /PRNewswire/ -- According to Arizton's latest research report, the US floral gifting market will grow at a CAGR of 7.58% from 2022-2028.
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BROWSE IN-DEPTH TOC ON THE US FLORAL GIFTING MARKET
43- Tables?
79- Figures?
282 - Pages?
The US is one of the world's largest importers of cut flowers and foliage. According to data from the USDA, in 2020, the US imported approximately $1.6 billion worth of cut flowers. There is a consistent demand for flowers as a gifting option for various occasions, such as Valentine's Day, Mother's Day, and weddings. People in the US consider flowers as a memorable gift, and around 85-90% of people in the US remember the last time they gave flowers to someone. The growing awareness of environmental issues leads to increased demand for sustainably sourced and eco-friendly flowers and floral products. Advancements in technology are allowing vendors to offer more personalized and customized floral arrangements and improve supply chain management and delivery logistics.
The purchase of flowers is predominantly growing when obligatory events are in the picture. Weddings, funerals, graduations, and social engagements are occasions where the trend toward purchasing flowers is higher. There are also in-between moments, such as tumbleweed and 'just because' moments, and with consumers being more time-pressed than ever, floral gifts are more relevant than ever. Positioning flowers as gifts that will never cease to please can be a major point of differentiation when competing with other gift options in the market. Vendors can look at the path to purchase habits of gift-givers and plug in this messaging via social and mobile channels to drive growth in the US floral gifting market.
The U.S. FLORAL GIFTING MARKET REPORT SCOPE
Report Attributes | Details |
Market Size (2028) | USD 18.99 Billion |
Market Size (2022) | USD 12.25 Billion |
CAGR (2022-2028) | 7.58 % |
Base Year | 2022 |
Forecast Year | 2023-2028 |
Market Segmentation | The occasion, Platform, Product, Purchase Option |
Geographic Analysis | The United States |
Market Dynamics | ·Better Logistics and Delivery ·Technological development ·Rise of Bioengineering in Retail, Hospitality, and Botanical Homescapes ·Link Between Exposure to Flowers and Health & Wellbeing ·Floral Design Gaining Renaissance |
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Personalization Key to Success
Consumers increasingly seek unique and customized gifts that show thoughtfulness and attention to detail. With the rise of e-commerce and online flower delivery services, vendors offer various personalization options to cater to this demand. Therefore, personalization options have become a significant factor driving the growth of the floral gifting market in the US. Personalization has become a keyway for vendors to differentiate themselves in a highly competitive market, proving to be a successful strategy for driving growth. Vendors can meet the needs and preferences of a broader range of customers by offering customization options, leading to increased sales and customer loyalty. As such, personalization is expected to continue to be a key driver of growth in the US floral gifting market.
The increasing penetration of the internet and smartphones has led to a surge in online sales. Online flower delivery platforms such as 1-800 Flowers, FTD, and Teleflora have become popular choices for customers. The convenience of ordering online, the availability of a wide variety of floral arrangements, and the ability to track deliveries have made online sales a preferred channel for many. In-store sales still account for a significant market share, particularly for last-minute purchases or customers who prefer the touch-and-feel experience before purchasing. Mobile sales are also rising as customers use their smartphones for on-the-go purchases. With the increasing popularity of online and mobile sales, traditional brick-and-mortar stores are adapting to new technologies to remain competitive. As the demand for convenience and ease of purchase continues to grow, the online and mobile segments are expected to drive the future growth of the US floral gifting market.
Vendors in the market need to work on growing the share of wallets. Self-gifting started because of the prevalence of sales during the holiday seasons. Since most of the advertising for the holiday season is around gifting others, vendors can provide stimulus to self-gifting by offering discount coupons to drive sales and increase profitability during a high point in the market.
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California is One of the Major Floral Gifting Markets in the U.S
The US floral gifting market has grown in all regions in the US, but some areas are expected to witness greater growth than others. The West and Northeast U.S. are anticipated to grow due to their large population and higher per capita income. The South and Midwest regions are also expected to grow significantly, but not as much as the West and Northeast.
California is one of the US's largest markets for floral gifting due to its large population and tourism industry. The state is home to many florists and flower farms, and its mild climate makes it an ideal location for growing a wide variety of flowers. However, increasing competition and rising labor costs are factors affecting the market's growth in the state.
Key Company Profiles
- FTD
- 1-800-Flowers
- Teleflora
- From You Flowers
- 5th Ave Floral
- Avas Flowers
- Benchmark Bouquets
- BloomNation
- BloomsyBox
- Blooms Today
- Farmgirl Flowers
- Floom
- Flora2000
- FloraQueen
- Flowerbud
- FlowerPetal
- JustFlowers.com
- KaBloom.com
- The Flower Shop
- The Bouqs
- Urban Stems
- Gotham Florist
- H. Bloom
- Venus Et Fleur
- Florists.com
- 1st in Flowers
- Kremp Florist
- Send Flowers
- Global Rose
- JUST FLOWERS DOT COM
- Winston Flowers
- Ode à la Rose
- The Sill
- Farm Fresh Flowers
- ENJOY FLOWERS
- Freytag's Florist
- McShan Florist
- Phoenix Flower Shops
- U.S. Retail Flowers
- THE FLOWER SHOP ATLANTA
- Phillip's Flowers & Gifts
- In Bloom Flowers
- BOKAY
- Flowers4Dreams
- Winston Flowers
- FLOWERS OF THE FIELD
Market Segmentation
Occasion
- Personal & Self-Gifting
- Wedding
- Corporate
- Sympathy
Platform
- In-store
- Online
- Mobile
Product
- Bouquets & Arrangements
- Stems
Purchase option
- One-time purchase
- Subscription
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Table of Content
1 RESEARCH METHODOLOGY
2 RESEARCH OBJECTIVES
3 RESEARCH PROCESS
4 SCOPE & COVERAGE
4.1 MARKET DEFINITION
4.1.1 INCLUSIONS
4.1.2 EXCLUSIONS
4.1.3 MARKET ESTIMATION CAVEATS
4.2 BASE YEAR
4.3 SCOPE OF THE STUDY
4.4 MARKET SEGMENTS
4.4.1 MARKET SEGMENTATION BY OCCASION
4.4.2 MARKET SEGMENTATION BY PLATFORM
4.4.3 MARKET SEGMENTATION BY PRODUCT
4.4.4 MARKET SEGMENTATION BY PURCHASE OPTIONS
5 REPORT ASSUMPTIONS & CAVEATS
5.1 KEY CAVEATS
5.2 CURRENCY CONVERSION
5.3 MARKET DERIVATION
6 MARKET AT A GLANCE
7 PREMIUM INSIGHTS
7.1 MARKET OVERVIEW
7.2 REPORT OVERVIEW
7.3 OPPORTUNITY & CHALLENGE ANALYSIS
7.4 SEGMENT ANALYSIS
7.5 GEOGRAPHICAL ANALYSIS
7.6 COMPETITIVE LANDSCAPE
8 INTRODUCTION
8.1 OVERVIEW
8.1.1 SUPPLY CHAIN CRITICALITY
8.1.2 PRICING STRATEGIES
8.1.3 FACTORS IMPACTING FLORAL WHOLESALERS
8.2 US FLORAL IMPORTS
8.2.1 OVERVIEW
8.2.2 MIAMI FLORAL IMPORTS
8.2.3 CUT FLOWER IMPORTS THROUGH OCEAN SHIPMENTS
8.3 VERTICAL INTEGRATION IN THE MARKET
8.4 GIFTING INDUSTRY IN THE US
8.5 VALENTINE'S DAY 2022
8.6 CONSUMER TREND ANALYSIS
8.6.1 SELLING DIRECT-TO-CONSUMER: RECENT TREND
8.7 FLORAL GIFTING MARKET
8.7.1 FLOWER PRODUCTION
8.7.2 LOGISTICS & TRANSPORTATION
8.7.3 PACKAGING & PRESENTATION
8.7.4 RULES & REGULATIONS
8.8 CONSUMER BEHAVIOR
8.8.1 KEY CONSIDERATION DRIVERS
8.8.2 DEGREE OF VALUE
8.8.3 PURCHASE BARRIERS
8.9 GENERATIONAL INSIGHTS
8.9.1 MILLENNIALS
8.9.2 GENERATION X
8.9.3 BABY BOOMERS
8.10 TARIFFS, QUALITY STANDARDS, & CERTIFICATIONS
8.11 IMPACT OF COVID-19
8.11.1 OVERVIEW
8.11.2 FLOWER SHORTAGE
8.11.3 TECHNOLOGY IN FLORAL INDUSTRY AMID THE PANDEMIC
8.11.4 FLORAL INDUSTRY CRISIS INSIGHTS 2021
9 MARKET OPPORTUNITIES & TRENDS
9.1 HIGH DEMAND FOR PERSONALIZATION
9.2 RISING INCLINATION TOWARD HEALTH & WELLNESS
9.3 SPREAD OF FARMER-FLORIST MOVEMENT
9.4 RISING FOCUS ON LOCAL FLOWERS
9.5 BROADENING RANGE OF BOUQUET ELEMENTS
9.6 INCREASING DEMAND FOR SUSTAINABILITY
9.7 INTENSIFYING MICRO-REGIONALISM
9.8 INTRODUCTION OF FLAT-PACKED BOUQUETS
10 MARKET GROWTH ENABLERS
10.1 BETTER LOGISTICS AND DELIVERY
10.2 TECHNOLOGICAL DEVELOPMENT
10.3 RISE OF BIOENGINEERING IN RETAIL, HOSPITALITY, & BOTANICAL HOMESCAPES
10.4 LINK BETWEEN EXPOSURE TO FLOWERS AND HEALTH & WELLBEING
10.5 FLORAL DESIGN GAINING RENAISSANCE
10.6 INCREASING NUMBER OF NEW ENTRANTS IN THE INDUSTRY
10.7 DIMINISHING BARRIERS OF COST
10.8 GROWTH OF MULTI-CULTURAL AUDIENCES
10.9 RISK AVERSION DURING GIFT-GIVING
11 MARKET RESTRAINTS
11.1 COMPETITION FROM NON-FLORAL GIFT ITEMS
11.2 DEARTH OF UNIFIED CAMPAIGNS AGAINST 'BLOOD FLOWERS'
11.3 INVESTMENTS IN DRIED & ARTIFICIAL FLOWERS
11.4 HIGH WASTAGE
11.5 RISING POPULARITY OF PLANT GIFTS
11.6 DISPARITIES AND ISSUES WITH FLOWER DELIVERIES
11.7 NEGATIVE PUBLICITY OF FLOWERS
12 MARKET LANDSCAPE
12.1 MARKET OVERVIEW
12.2 MARKET SIZE & FORECAST
12.3 SWOT ANALYSIS
12.3.1 STRENGTHS
12.3.2 WEAKNESSES
12.3.3 OPPORTUNITIES
12.3.4 THREATS
12.4 PEST ANALYSIS
12.4.1 POLITICAL
12.4.2 ECONOMIC
12.4.3 SOCIAL
12.4.4 TECHNOLOGY
12.5 FIVE FORCES ANALYSIS
12.5.1 THREAT OF NEW ENTRANTS
12.5.2 BARGAINING POWER OF SUPPLIERS
12.5.3 BARGAINING POWER OF BUYERS
12.5.4 THREAT OF SUBSTITUTES
12.5.5 COMPETITIVE RIVALRY
13 OCCASION
13.1 MARKET SNAPSHOT & GROWTH ENGINE
13.2 MARKET OVERVIEW
13.3 PERSONAL & SELF-GIFTING
13.3.1 MARKET SIZE & FORECAST
13.4 WEDDING
13.4.1 MARKET SIZE & FORECAST
13.5 CORPORATE
13.5.1 MARKET SIZE & FORECAST
13.6 SYMPATHY
13.6.1 MARKET SIZE & FORECAST
14 PLATFORM
14.1 MARKET SNAPSHOT & GROWTH ENGINE
14.2 MARKET OVERVIEW
14.3 IN-STORE
14.3.1 MARKET SIZE & FORECAST
14.4 ONLINE
14.4.1 MARKET SIZE & FORECAST
14.5 MOBILE
14.5.1 MARKET SIZE & FORECAST
15 PRODUCT
15.1 MARKET SNAPSHOT & GROWTH ENGINE
15.2 MARKET OVERVIEW
15.3 BOUQUETS & ARRANGEMENTS
15.3.1 MARKET SIZE & FORECAST
15.4 STEMS
15.4.1 MARKET SIZE & FORECAST
16 PURCHASE OPTIONS
16.1 MARKET SNAPSHOT & GROWTH ENGINE
16.2 MARKET OVERVIEW
16.3 ONE-TIME PURCHASE
16.3.1 MARKET SIZE & FORECAST
16.4 SUBSCRIPTIONS
16.4.1 MARKET SIZE & FORECAST
17 GEOGRAPHY
17.1 US FLORAL GIFTING INDUSTRY BY KEY STATES IN THE
17.1.1 OVERVIEW
17.2 CALIFORNIA
17.2.1 MARKET OVERVIEW
17.3 WASHINGTON
17.3.1 MARKET OVERVIEW
17.4 OREGON
17.4.1 MARKET OVERVIEW
17.5 FLORIDA
17.5.1 MARKET OVERVIEW
17.6 HAWAII
17.6.1 MARKET OVERVIEW
17.7 ALASKA
17.7.1 MARKET OVERVIEW
17.8 TEXAS
17.8.1 MARKET OVERVIEW
17.9 NEW YORK
17.9.1 MARKET OVERVIEW
18 COMPETITIVE LANDSCAPE
18.1 COMPETITION OVERVIEW
18.1.1 MARKETING
19 KEY VENDORS
19.1 FTD
19.1.1 BUSINESS OVERVIEW
19.1.2 PRODUCT OFFERINGS
19.1.3 KEY STRATEGIES
19.1.4 KEY STRENGTHS
19.1.5 KEY OPPORTUNITIES
19.2 1-800-FLOWERS
19.3 TELEFLORA
19.4 FROM YOU FLOWERS
20 OTHER PROMINENT VENDORS
20.1 5TH AVE FLORAL
20.1.1 BUSINESS OVERVIEW
20.1.2 PRODUCT OFFERINGS
20.1.3 KEY STRENGTHS
20.1.4 KEY STRATEGIES
20.2 AVAS FLOWERS
20.3 BENCHMARK BOUQUETS
20.4 BLOOMNATION
20.5 BLOOMSYBOX
20.6 BLOOMS TODAY
20.7 FARMGIRL FLOWERS
20.8 FLOOM
20.9 FLORA2000
20.1 FLORAQUEEN
20.11 FLOWERBUD
20.12 FLOWERPETAL
20.13 JUSTFLOWERS.COM
20.14 KABLOOM.COM
20.15 THE FLOWER SHOP
20.16 THE BOUQS
20.17 URBAN STEMS
20.18 GOTHAM FLORIST
20.19 H. BLOOM
20.20 VENUS ET FLEUR
20.21 FLORISTS.COM
20.22 1ST IN FLOWERS! AND !1ST IN FLOWERS!
20.23 KREMP FLORIST
20.24 SEND FLOWERS
20.25 GLOBAL ROSE
20.26 JUST FLOWERS DOT COM
20.27 WINSTON FLOWERS
20.28 ODE À LA ROSE
20.29 THE SILL
20.30 FARM FRESH FLOWERS
20.31 ENJOY FLOWERS
20.32 FREYTAG'S FLORIST
20.33 MCSHAN FLORIST
20.34 PHOENIX FLOWER SHOPS
20.35 U.S. RETAIL FLOWERS
20.36 THE FLOWER SHOP ATLANTA
20.37 PHILLIP'S FLOWERS & GIFTS
20.38 IN BLOOM FLOWERS
20.39 BOKAY
20.40 FLOWERS4DREAMS
20.41 WINSTON FLOWERS
20.42 FLOWERS OF THE FIELD
21 REPORT SUMMARY
21.1 KEY TAKEAWAYS
21.2 STRATEGIC RECOMMENDATIONS
22 QUANTITATIVE SUMMARY
22.1 MARKET BY OCCASION
22.2 MARKET BY PLATFORM
22.3 MARKET BY PRODUCT
22.4 MARKET BY PURCHASE OPTION
23 APPENDIX
23.1 ABBREVIATIONS
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