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Florists - Industry Profile
First Research, March 2008, Pages: 10
Covering over 175 industries and updated every 90 days, the First Research Industry Profiles do the heavy lifting for you - saving your sales team valuable research time, enhancing client communications and giving you the competitive edge to win more business.
Easy-to-use and up-to-date, the Industry Profiles provide you with the industry research necessary to stay on top of constant changes in select industries.
The First Research profiles help target your products and services directly to prospects. The Industry Profiles provide the information and understanding you need to engage new prospects during the sales process, deepen customer relationships and strengthen your own bottom line.
Executive Summary
Brief Excerpt from Industry Overview Chapter:
The retail florist industry includes about 22,000 retail flower shops with combined annual revenues of $7 billion. While there are no national florist chains, independent florists are usually linked into national wire services providers FTD and Telaflora, which connect customers with florists. 1-800-FLOWERS.COM has over 100 franchised and company-owned shops, and franchisor Kabloom also has over 100 franchise locations. The industry is highly fragmented: the 50 largest companies hold just 6 percent of the market. Average annual sales per flower shop are about $300,000.
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 highly labor-intensive: annual sales per employee are about $60,000.
PRODUCTS, OPERATIONS & TECHNOLOGY
Major products are cut flower arrangements, potted plants, and loose cut flowers. Flower arrangements account for 55 percent of industry revenue, potted plants for 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 one, or several, of 1,000 wholesalers and importers, who in turn buy from several thousand growers. Imports, mainly from South America, account for about 70 ...
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