Arizton Advisory & Intelligence

Personalization is expected to be a major driver in the US floral gifting market.

CHICAGO, ILLINOIS, UNITED STATES, April 26, 2023/EINPresswire.com/ -- 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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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.

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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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