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Florists
First Research, March 2012, Pages: 10
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Executive Summary
Brief Excerpt from Industry Overview Chapter:
The US florists industry includes about 20,000 retail flower shops with combined annual revenue of about $5 billion. No major companies dominate the industry, which is highly fragmented: the 50 largest companies account for less than 10 percent of revenue. Companies such as 1-800-FLOWERS.COM, FTD, and Teleflora serve as sources of orders for independent florists as well as sources of competition.
COMPETITIVE LANDSCAPE
Demand for flowers depends on discretionary consumer spending. The profitability of individual shops depends on effective marketing. Companies focus on a local or regional market and compete based on convenient location, price, and customer service. Florists also compete with supermarkets and mass merchandisers selling flowers, which can often sell at lower prices because of volume purchases from growers or wholesalers. The industry is labor-intensive: annual sales per employee are about $70,000.
PRODUCTS, OPERATIONS & TECHNOLOGY
Major products are cut flower arrangements (about 55 percent of industry revenue), potted plants (15 percent), and loose cut flowers (15 percent). Stores may also sell vases, artificial flowers, and other gift items. The top-selling flowers are roses, carnations, and lilies.
Florists buy product from wholesalers and importers, who in turn buy from growers. Imports from Colombia account for about 70 percent of cut flowers sold in the US. Wholesalers typically deliver cut flowers several times per week. Store operations consist of caring for flowers, putting together flower arrangements, taking orders, serving walk-in customers, and delivering arrangements to consumer and commercial customers.
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