Valentine’s Day is always a major holiday for the floral industry, and if last year’s trends continue, we could be looking at the biggest Valentine’s Day ever. 2023 had near-record Valentine’s Day spending, both total and per person. To help you know where to focus your marketing efforts, here are the five key trends you need to know about from 2023:
1. Overall Spending
Per the National Retail Federation (NRF), Valentine’s Day consumer spending for 2023 hit $25.9 billion, the second-highest year recorded. The average per-person spending was close to $193, also the second highest ever. This is great news, as we’re getting closer to pre-pandemic spending levels!
2. Diverse Gift Recipients
People are, of course, spending money on significant others for Valentine’s Day, but they’re also spending on many other loved ones. This includes family, friends, co-workers, teachers, classmates, and even pets. The total spent on these groups was $7.1 billion last year, up from $5.6 billion in 2022. Marketing giving flowers to these different groups (well, except pets) can be a great way to increase your business.
To read the rest of the story, please go to: Rio Roses
