Retail florists that have weathered and survived the U.S. economic recession are surprisingly upbeat on their future prospects for the florist business. In a 2011 survey, fifty-five percent of florist shops in the U.S. described their future prospects as “Good” or “Excellent”, a little more than one-third described their prospects as “Fair”, and only 9% described their future prospects as “Poor”, or “Very Poor”. And this upbeat perception is across many regions of the U.S., and across most florist-size groups (although larger-sized shops and florist shop owners under the age of 35 had more positive prospects for the future). That’s just one of numerous “stories” from the recently-released Prince & Prince U.S. Retail Florist Tracking Survey that tracks 200 metrics over time of the retail florist business, now available on CD, or as an on-site seminar from Prince & Prince (P&P), long-time market researches and analysts of the floral & green plant industry.
This “Future Prospects” rating from about 900 randomly-selected florist shops across the U.S. is more than just an aloof perception, stated Tom Prince, President and co-founder of Prince & Prince. The future prospects measure has real meaning, as it is strongly inter-correlated with two other measures of “Success” of the florists business: 1) year over year sales growth percentage, and 2) profit (loss) before taxes percentage. This indicates that the future prospects rating (a self-reported perceptual measure) is actually tied to the economic performance of the retail florist business. In the CD and seminar, Prince & Prince reveal the product, service, operational, and marketing strategies of florist shops that currently drive business success.
At Prince & Prince, we think that this upbeat message about the future, coming directly from florists, will provide encouragement for the entire floral industry. This also was the consensus from wholesale florist management teams who have already booked and received the Prince & Prince on-site seminar.
A fuller description of the P&P florist survey is attached, as well as key benefits of the research, and an order form for the CD. For more information, please contact Prince & Prince.
Tom & Tim Prince
Prince & Prince, Inc.