The 1st and 8th of March are the peak sales days for florists in Romania and, with more than 2.5 million bouquets sold on these days, the flower market will reach a new historical sales record of almost 40 million euros, according to a study conducted by Frames consultancy company.

Beyond flowers and gifts of all kinds, flowers are the most sold product in Romania these days.

According to a press release sent to AGERPRES, an estimate, made by consultants, shows that on 1 and 8 March, more than 2.5 million bouquets of flowers will be sold. The estimate takes into account that 4.6 million women over the age of 18 live in urban areas, where more than 90% of flowers are sold, and that at least half of the ladies and young ladies will receive a bouquet of flowers during this period, at an average price of 80 lei.

"A simple calculation shows that the flower business is approaching 40 million euros, almost 10 million euros more than the 2023 estimate, including only the retail of flowers. By comparison, in 2020, the flower business exceeded 20 million euros,'' the analysis says.

According to analysts, the spectacular sales dynamic is primarily due to the significant increase in the price of flowers, which has also significantly increased the turnover of more than 7,700 companies operating in this sector.

In terms of supply, the most sought after flowers at this time of year are snowdrops, freesia, hyacinths, tulips and daffodils. Apart from seasonal flowers, roses, considered the symbol of love, are still in great demand.

"There is, however, a growing demand for personalised bouquets, which include various gifts and decorative elements made of exotic plants and flowers,'' analysts say.

The last year for which the Finance Ministry presents final financial data, 2022, took the Romanian flower business to 2.2 billion lei. By comparison, 10 years ago, in 2014, the flower market reported a turnover of 491.3 million lei.

At the same time, companies in the flower retail sector have managed to significantly increase their profitability, reporting a net profit of over 200 million lei in 2023, compared to 150 million lei in 2022 and 23 million lei in 2014. According to financial data from the Ministry of Finance, consulted by Frames, 7,774 companies were active in the flower market in Romania in 2022, of which 6,930 in activity and only 24 in bankruptcy and 76 in insolvency.

"The flower market has grown spectacularly in recent years, as the number of companies has doubled in the last 10 years, as well as the number of employees. The significant development of the business came both on the background of the increasing interest of investors in this area and especially as a result of the significant reduction of the black market, of tax evasion in this sector," said Adrian Negrescu, Frames manager, as quoted in the press release.

Most flowers sold on the Romanian market come from imports, about 80%, the rest being covered by local production.

According to the Frames analysis, the Romanian flower retail trade has diversified a lot in terms of service offer. From neighbourhood florists, there are now websites and smartphone apps through which you can order a wide range of flowers and related gift products anywhere. From classic bouquets to spectacular, personalised floral arrangements in tune with the season and the special moments in the lives of the recipients.

"In previous years, we estimated that the business with flowers and related products would grow significantly in Romania, and the financial data confirm this positive trend. The year 2024 will be a real milestone for this market, given that tax changes and inflation are at the forefront. We will most likely witness an accentuation of the market concentration phenomenon, especially in the distribution sector, in line with the evolution of the population's income and the expansion of consumption habits," said Negrescu.

The analysis of the flower market business in Romania in 2024 was made on the basis of financial data reported by companies with CAEN code 4776 (retail trade of flowers, plants and seeds) to the Ministry of Finance for the year 2022, statistical data on company dynamics from the Trade Register and information from the National Institute of Statistics.

The estimates for sales on 1 and 8 March 2024 belong to Frames and have been based on discussions with companies in the sector. AGERPRES (RO - author: Andreea Marinescu, editor: Nicoleta Gherasi; EN - author: Adina Panaitescu, editor: Cristina Zaharia)