Research firm: Supermarkets stand to gain from increasing floral demand
Research firm: Supermarkets stand to gain from increasing floral demand
Led by improvements in economic conditions, demand for flowers and potted plants is expected to pick up in the five years to 2017, according to Santa Monica, CA, market research firm IBISWorld.
Supermarkets and on-line retailers, rather than traditional independent florists, will likely capture much of this demand, leveraging their economies of scale to provide cheaper goods to cautious consumers. Furthermore, IBIS predicted in a statement, “permanent price declines will likely plague the industry” by keeping profitability low.