Mark Field, the CEO of Prof. Consulting Group, discusses the Australian floral industry and its potential to bloom.
"In the past week I made two floral purchases: one in Melbourne and one in the United Kingdom via an online platform, and it got me thinking about the floral retail space and prompted me to share my take on the opportunities.
I believe that within the world of retail, floral plays a key role as a beacon of freshness – an attractive and engaging display that amplifies the freshness credentials of the store. It can result in an impulse purchase that in many cases continues within the wider shopping experience as the customer tours the fresh food aisles and increases their spending.
If we take a snapshot of the UK retail landscape where the floral display is more mature, we see a higher level of impulse purchasing by consumers doing their regular food shop. A floral purchase is seen as the start of the fresh produce shopping list rather than simply a gifting occasion (the most likely driver of the Australian market).
Investing in the category should help reposition it in the minds of consumers, shift their purchasing behavior, and drive significant growth."
Read the complete article at www.consultancy.com.au.
