Columbus, Ohio – Prince & Prince, Inc. (P&P), a leader in market research focused on the floral and green plant industries, has released a projection for the retail value of U.S. consumer floral purchasing for the upcoming 2016 Valentine’s Day holiday (Valentine’s Day is Sunday, February 14th). The P&P U.S. consumer floral aggregate spending projection is $3.3 billion dollars at retail, including all fresh floral products (fresh cut flowers and/or indoor potted plants) and any associated delivery/ handling services.
Valentine’s Day is the second largest "floral holiday" for the U.S. floral industry, in terms of consumer dollar spending, second to Mother’s Day (P&P’s 2015 Mother’s Day floral projection was $3.9 Billion; Prince & Prince, 2015). P&P project that for 2016, slightly more than 44 million households in the U.S. will purchase fresh cut flowers (largely roses) and/or potted flowering plants to express emotions for a loved one, significant other, or special person in or out of the household. P&P also project that each purchasing household, on average, will spend about $74, including all household members making a floral purchase, and with associated delivery/ service fees included.
Prince & Prince has been tracking U.S. consumer floral purchasing behavior for Valentine’s Day (and for 20+ other holidays, events, and occasions) over the past two decades with their periodic surveys of floral-buying households that are randomly selected throughout the U.S. (over 6,000 surveys completed since the initial survey in 1996, as well as surveys in 2000, 2007, 2010, and 2013; Prince & Prince, 2014a). Thus, P&P is able to identify salient consumer floral-purchasing trends over time for the floral industry.
P&P has previously reported that the overall percentage of U.S. floral-buying households making a floral purchase for Valentine’s Day, currently at a rather high percentage level (projected at 50% for 2016), has fallen slightly, yet continuously, over the past two decades, which P&P deems a “wake-up call” for the industry (Prince & Prince, 2014b). "Although the household purchasing incidence for this holiday is quite high, it has been trending slightly lower with each periodic P&P survey over the past 20 years, except when Valentine’s Day holiday falls on a week-end”, stated Tom Prince, President of Prince & Prince, Inc. “When the holiday falls on a week-end (as in 2016), the P&P historical data reveals that a slightly higher percentage of households purchase floral for Valentine’s Day, higher than predicted trend, but at a somewhat lower average purchase value, suggesting that supermarkets and other floral mass-marketers are likely expanding the Valentine’s Day floral market to new buyers when the holiday falls on a week-end.” The P&P demographic profile of household floral purchasing reveals that younger-aged households (under age 35), and households with teenagers, lead the floral-purchasing trends for Valentine’s Day.
2017 P&P Consumer Floral Research Update
Prince & Prince is currently seeking research co-sponsors for a 2017 update of the P&P U.S. Consumer Floral Tracking Survey (specific survey content at the P&P we site). Research co-sponsors receive the floral market presentation first thru an on-site seminar with Q&A, the complete 800+ slide presentation on flash drive, and sponsors receive exclusivity of the market information for a one-year period. Interested parties should contact P&P for research sponsorship opportunities.
Literature Cited
Prince, T.L. and Prince, T.A. (2015). Prince & Prince Project the U.S. Consumer Floral Market for Mother’s Day 2015 at $3.9 Billion Dollars. Columbus, OH: Prince & Prince, Inc. (Press Release).
Prince, T.L. and Prince, T.A. (2014a). The Prince & Prince U.S. Consumer Floral Tracking Survey, 2014 Edition. Columbus, OH: Prince & Prince, Inc (On-Site Seminar).
Prince, T.L. and Prince, T.A. (2014b). Historical Downward Trend in Consumer Floral Purchasing for Valentine’s Day: A “Wake-Up” Call for the Industry? Columbus, OH: Prince & Prince, Inc. (Web Market Report).
Additional Information Sources
The Prince & Prince U.S. Consumer Floral Tracking Survey – – Now Available On Flash.
Prince & Prince Web Site: www.FloralMarketResearch.com
Recent P&P Report Releases (At the P&P web site)
1) Consumer Perceptions of Floral Quality and Price and Their Impact on Satisfaction/ Purchasing Loyalty: Part I, Consumer Attribute Scores. 2) Historical Downward Trend in Consumer Floral Purchasing for Valentine’s Day: A “Wake-Up” Call for the Industry? 3) U.S. Consumer Floral Purchasing for Proms & Dances Rebounds from Recession. 4) Florists Broadly Adopt Social Media . . . Payoff Somewhat Nil . . . Now What?
About the Authors
Drs. Tom and Tim Prince, formerly of The Ohio State University, are brothers and co-founders of Prince & Prince, Inc. (P&P), a leading marketing research specialist in the floral and green plant industries. P&P has completed more than 50 major marketing research projects and countless reports for the floral industry in the U.S., and has also conducted research in Canada, the United Kingdom, Holland, Germany, and Spain. P&P conceptualize, design, and implement market research projects and product tests for floral and green-plant suppliers, hardgood suppliers, floral importers, wholesale florists, retail florists, floral-industry associations, and companies serving the allied floral trade. For more information about P&P marketing research and services, and their informative on-site seminars, visit their web site at www.FloralMarketResearch.com, or contact Prince & Prince.
Source: Prince & Prince, Inc. (P&P)
