The floral gifting market in US is anticipated to reach values of around $16 billion by 2023, growing at a CAGR of over 6% during 2018-2023.
Arizton’s recent market research report on the floral gifting market in US identifies FTD Companies, 1-800-Flowers.com, Teleflora, and From You Flowers as the leading vendors that are likely to dominate the market during the forecast period. This research report provides a detailed analysis of market segmentation by platform (in-store, online, and mobile) and by occasion (personal gifting, wedding, self-gifting, corporate, and sympathy).
The floral gifting market in US is divided into three major segments that consist of by platform and by occasion.
Mobile segment to grow at the fastest CAGR in the floral gifting market in US during the forecast period
The floral gifting market in US by platform is classified into in-store, online, and mobile. Mobile platform occupied a considerable market share in 2017 and is the fastest growing segment, growing at a CAGR of approximately 10% during the forecast period. The increasing efforts on leveraging digital marketing and social media channels to influence consumer purchase decisions will augment the growth of this segment in the floral gifting market in US. The leading vendors are driving app downloads by offering exclusive offers that apply to purchases through the app. Additionally, companies are leveraging mobile apps for offering updates about deliveries and set reminders about upcoming events such as birthdays, anniversaries, and other occasions. Such additional features are making mobile applications very popular in the US market. For instance, apps provided by ProFlowers will import the address book and alert the consumer of upcoming events from Facebook. These technological innovations will fuel multiple selling opportunities and drive growth in the US floral gifting market.
Corporate sector to grow at a considerable CAGR in the floral gifting market in US during the forecast period
The occasion segment in the floral gifting market in US is segmented into personal gifting, wedding, self-gifting, corporate, and sympathy. The corporate segment dominated significant market share in 2017, growing at a CAGR of more than 6% during the forecast period. The increasing investment made by various companies for special event gifts and periodic corporate gifts is propelling the growth of this segment in the US market. These gifts are usually part of retirement, employee recognition, promotion, successful business deal, and another such occasion which will be a touch point for the companies to bridge distances will boost the demand in the floral industry. Furthermore, more co-workers are becoming more connected owing to greater collaboration within the workplace and consistent growth of activities that break ice across departments. Such development will create lucrative opportunities for prominent players in the floral gifting market in US. The corporate organizations are looking to working with local artisans, offering gifts, and serving food and wine that has grown within a 100-mile radius of the event in order to support the neighboring area and promote local businesses in the US market. Such initiatives to promote local businesses will augment the growth of the floral gifting market in US.
The other prominent players operating in the floral gifting market in US are Avas Flowers, BloomNation, Blooms Today, Farmgirl Flowers, Flora2000, Flowerbud.com, Flowerpetal.com, Just Flowers.com, KaBloom.com, Venus Et Fleur, The Bouqs, UrbanStems, Gotham Florist, and H Bloom.
The complete overview of the latest market research report on floral gifting market in US by Arizton is now available.
The report also offers a detailed study of major trends, drivers, challenges, and also provides the market size and forecast for major geographical regions and key countries.
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