ALEXANDRIA, VA – The American Floral Endowment (AFE) just released a comprehensive Public Benefits study on Longevity Guarantees for Flowers. This multi-part study examines several aspects of consumer preferences for longevity guarantees on flowers including: consumer willingness to pay for longevity guarantees, consumer preferences for longevity labels on cut flowers and consumer preferences for redeeming longevity guarantees. The study was conducted by Chengyan Yue, Ph.D., at the University of Minnesota, with support from Alicia Rihn, University of Minnesota, Bridget Behe, Ph.D., Michigan State University, and Charles Hall, Ph.D., Texas A&M University.
Guarantees are used in many different industries to entice consumers to purchase products, but they are rarely used in the floriculture industry. This study seeks to examine the consumer impact of longevity guarantees on flowers.
One of the key findings in the study was that 76% of participants indicated that a longevity guarantee on flowers would impact their purchasing decisions. Specifically, participants were willing to pay 3% more for a guaranteed flower arrangement than a flower arrangement with equal longevity but no guarantee.
The study findings can serve as important marketing lessons for floriculture industry stakeholders. “People are very positive about longevity guarantees,” says Dr. Yue, “I think we can develop a longevity guarantee labeling system so that people would be reassured of their purchases and go outside of their typical safety zones. Longevity guarantees are especially important for gifts, expensive flowers, and flowers they are not familiar with.”
Former AFE Chairman Harrison, “Red” Kennicott, CEO of Kennicott Brothers Co., Inc., adds, “In addition to the useful information in these reports, industry members should always share with consumers how simple care and handling actions such as the use of preservatives, adding and changing water, and keeping flowers away from heat and drafts can prolong the life of flowers.”
Full reports from this study can be downloaded from the Public Benefits Reports section of the AFE website, www.endowment.org. AFE seeks to make public benefits research such as this study, widely available in order to benefit the entire floriculture industry.
About AFE
The American Floral Endowment is dedicated to advancing the industry through funding floriculture research, educational grants and scholarships. More than $14 million has been funded toward research projects benefiting the entire industry, and more than $300,000 in scholarships designed to attract and retain the future leaders of the industry. To learn more about AFE visit www.endowment.org or www.facebook.com/americanfloralendowment.
Source: American Floral Endowment
