Mega Consumer Trends Floral

Understanding consumers is key to growing business. To better understand consumers, the floral industry should look to mega trends that are changing the way consumers live and make purchasing decisions.

One mega trend, “Premiumization,” is shaping our consumer environment. This is truly about consumer priorities. Consumers will spend more on those things that matter to them while cutting back on those that do not matter, according to Euromonitor. And good news for the floral industry: Consumers are investing in themselves. Consumers want to be healthier and more relaxed. And what better way to relax than to indulge with a floral purchase?

In the world of premiumization, consumers place a high value on their home and what goes into it, so don’t be surprised if consumers know the latest color trends at the same time you are discovering them. Thus, providing products that reflect the latest floral and color trends is important. In 2018, Ultra violet, a blue-based purple, is the Pantone color of the year. It is described as a dramatic color that communicates originality, ingenuity, and visionary thinking. This color is associated with mindfulness practices, which offers solace to those seeking to step back from today’s hectic lifestyle.

The “Healthy Living” trend becoming the normal way of life with consumers demonstrating a more holistic approach to wellness that encompasses spiritual, mental and physical well-being. This provides the floral industry with opportunities to differentiate their brands by weaving health into its messaging, according to Euromonitor.

Research from Rutgers shows that the presence of flowers triggers feelings of well-being. Flowers are a natural moderator of moods. They can trigger happy emotions and heighten feelings of life satisfaction while lessening feelings of depression and agitation. At the same time, being around plants helps people to concentrate better in the home and workplace, according to research out of Texas A&M. People who keep flowers and/or plants in their home feel happier, less stressed and more relaxed.

The “Ethical Living” trend means that consumers are paying attention to ethics and moral values of companies. This includes concerns about the environment, sustainability, production, labor practices and community outreach.

Sustainability certifications for floral farms have been around for years but are growing in popularity as industry tries to demonstrate its commitment to meeting the needs of the ethical living trend that we are seeing. Sustainability certification ensures that farms provide safe, healthy and equitable work environments.

Certified farms adhere to maximum working hours and promote worker training and development. Sustainably certified farms reduce environmental impact of production by implementing efficient and sustainable farming techniques focused on reducing pesticide use, conserving water and sustaining healthy ecosystems.

The megatrend “Middle Class Retreat” asserts that the while the middle class will boom in Asia, the middle class in developed markets such as in the United States and European Union will struggle to maintain their economic position. Euromonitor uses the growth of discounters in grocery retailing as an example of this trend.
The middle class is described as celebrating how little something costs. To win the embattled middle class in developed nations, the floral industry should emphasize quality and look for a new take on value. In the U.S., a booming economy and tight labor market may have raised wages for those on the bottom rung of the economic ladder, but middle-class wages have not gotten a significant boost.

Historically, Europe has been the example of a middle-class society, given its lower levels of inequality and comprehensive welfare state. Yet, after the global financial crisis in 2009, the European middle class seemed to show unprecedented levels of vulnerability. Today, the share of the population in Europe that could be classified as middle class has plateaued but the vulnerability of people falling back into poverty has increased.

The final Euromonitor mega trend is “Shifting Market Frontiers.” As some regions reach their maximum potential, other regions will gain prominence for their unexploited potential. To ensure growth, the floral industry will have to adapt to changing demographics, economics, and technologies bringing new markets from the frontier to the spotlight.

In China, intense competition in the tier one cities will cause companies to shift their focus to the tier two cities. Improved infrastructure, the growing adoption of high-speed internet and increasing disposable incomes will make newer markets more attractive. PMA is currently conducting research to better understand the Chinese floral industry.

Mega Consumer Trends Impacting Floral in 2018

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