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.“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?“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.“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.“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.“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.
