Did you know that the global floral industry is worth over a hundred billion dollars today? Many florists might be surprised at this. After all, turning a decent profit on a local flower shop is no easy task. The money might be there, but so are holes through which hard-earned revenue slips away. Let’s examine a few recent flower shop statistics to see how we can plug some of these gaps to bolster earnings and increase your likelihood of success on a flower shop business. Below we have shared some critical flower industry statistics that will help you create your own flower business plan. If you’re new in this industry, trying to build your own flower shop, or plan on buying a florist business, then this is a must-read for you.
First, let’s take a look at the most important part of any flower shop – the flowers themselves. A flower sales statistic that shocks many new store owners is the amount of stock that has to be tossed out on a daily basis. A whopping 45% of all flowers die and have to be discarded before they are ever sold. That’s almost one out of every two flowers!
Here’s another interesting tidbit about the florist demographics in the United States- 80% of flowers sales made in the USA are imported from other countries. This isn’t only hugely expensive and problematic for suppliers in your area, it’s also one of the factors that contribute to flowers wilting fast and having to be chucked out. Supporting local means getting fresher flowers that last longer, boosting the community’s economy as well as your own flower shop revenue, and giving customers what they want. Buying close to home is a big trend right now. Supporting businesses that offer flowers for sales sourced from local sellers is a win-win situation for both the customers and the business.
Know your customer
Increasing sales on flowers depend largely on knowing your customers and giving them what they want. Women of different ages, backgrounds, and financial conditions constitute the largest flower shop target market in the USA, with almost 80% percent of flower sales being attributed to female customers. Also, another interesting flower statistics to note is that over 60% of flower sales are bought for the person who is actually buying them. Flower shop statistics such as these can help florists better understand who their ideal customers are and give them the marketing angle they need to promote their business in ways that are far more contextual.
For example, if you know that the majority of your returning customers are women looking to buy fresh flowers for home decor, why not include a personalized card in your delivery that gives your customers some handy tips on making their arrangements last longer? Or why not include a few suggestions, based on their order history? Starting a conversation with your customers in ways that are relevant to them makes your brand sticky and can do wonders for your return sales figures.
Don’t bank on special occasions alone
While flowers are a sure bet for big calendar days, an interesting flower industry statistics is that 50% of sales are attributed to non-calendar events. What this means is that half of the flower sales are spontaneous and that people are buying them all year round. This is great news for florists, so make sure you mark those big calendar events, but more importantly, that you’re reaching out to your market on a consistent basis.
Owning a flower shop may be a very personal aspiration for many, but remember you’re running a business that demands a constant flow of cash. So be tenacious and tap into where your flower shop target market is, why they buy flowers, which days are special to them and what their preferences are. How? By collecting information about your customers such as birthdays, anniversaries, personal milestones, etc.
Sounds like a lot of work? Not really. Some of the best florist POS systems can help you get to know your customers as you interact with them on a daily basis. Many, for example, allow you to collect volumes of useful information about your market, help you create personalized email marketing campaigns or even connect with them via social media.
Keep your ear to the ground with Hana Florist POS
Hana POS gives florists a complete toolset with which to tackle the everyday running of their shops, while simultaneously providing them with a solution that helps them grow their business. In order to understand the florist demographics in the United States, Hana POS is your best bet. Florists need business tools that are relevant to who they are and we’re stepping in to fill the gap with a system that simplifies wire service orders, makes marketing to your customers simple, eliminates dependence on expensive hardware and helps you connect with your customers in more personalized ways.
Based on technology, focused on people, Hana POS is fast becoming the POS solution of choice for florists across the USA. Contact us for more tips on how you can improve your revenue streams.