Mother’s Day is right around the corner — which, along with Valentine’s Day, is one of the most popular occasions to buy flowers.
But recent trends suggest florists may be relying more on the holiday than usual this year. Per CNBC, the flower business is taking a beating due to a bouquet of problems.
The root of the issue…
… starts on the supply side. When the pandemic hit in 2020, many farmers got rid of their flower crops, and, unsure of future demand, didn’t plant as much as they normally would, causing an overall shortage of flowers.
Along with that, the flower supply chain has faced thorny issues of its own, including:
- Labor shortages, with floral designers increasingly harder to come by
- Weather, which has meant poor growing conditions
- Shipping, which grew challenging with fewer international flights and a shortage of truck drivers
This hotbed of difficulties has led to higher costs for florists, which they’ve passed along to consumers.
But higher prices…
… have led to another budding problem for florists — decreased demand.
1-800-Flowers, the gift behemoth that also owns Harry & David and Shari’s Berries, reported lower demand for everyday gifting in its quarter ending in March, and lowered its guidance for the rest of the year. The stock fell to a new 52-week low as a result.
On the bright side for florists, short-term demand is likely to pop for Mother’s Day.
Consumers willing to stomach the premium on peonies, roses, and tulips should act fast as supply is reportedly dwindling. If you miss the chance on flowers, Tim Horton’s has you covered with this bouquet of doughnuts.
