Apr 08, 2021 (Market Insight Reports) -- Latest research report on "Global Floral Gifting Market " By Gift Type (Personal Gifting, Corporate Gifting), By Occasion (Weddings, Birthdays, Anniversaries, Corporate events, Funeral/Sympathy, Others), By Product By Type (Bouquets & Arrangements, Flower Baskets, and Others), By Delivery Type (On Demand Delivery, Scheduled Delivery), By Order Channel (Online, Offline), and By Purchase Option (One-Time Purchase, and Subscriptions): Opportunity Analysis and Industry Forecast, 2016-2026, the global floral gifting market was valued at USD 50,086.7 Million in 2020 and is likely to grow more than USD 71,339.0 Million by 2026 with a compounded annual growth of 6.1% over the forecast period 2020-2026. The market is witnessing growth owing to the increasing number of customers from the online channels.
With the rising technological advancement across the globe, the florist gifting companies are also switching to the online sales channel. As it helps in providing door service and provides various discounts. Most of the key companies are switching to the online channel either by their own website or are partnering with third-party providers. In addition, they can order the product via smartphone apps also, this further creates new revenue pockets for the company. FTD is focusing its efforts on technology, moving from on-premises data centers to Google Cloud Platform to enable continuous delivery of software and services. FTD decided to build a cloud-native architecture on Google Cloud Platform (GCP) to speed development for its new e-commerce sites.
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The Floral Gifting Market report also provides an in-depth analysis of recent News Developments and Investments:
In March 2021, 1-800-FLOWERS.COM, Inc. i ntroduced a new hub for birthday gifting, providing customers with thoughtful ways to celebrate the important people in their lives. A birthday gift guide features trending products and unique offerings from across the company’s family of brands, including special floral bouquets, bountiful gift baskets, customized decor, and gourmet treats.
In January 2020, India’s largest gifting brand, Ferns N Petals , has become the first such brand to launch Alexa Skill for gift delivery in Asia. The brand is anticipating that the business generated through this initiative will touch 10 per cent of the overall online business by 2025.
In April 2020, FTD, LLC, a leader in the floral industry for more than a century, and home fragrance brand, Homesick, have come together to offer an exclusive collection for Mother’s Day featuring some of FTD’s most-loved bouquets alongside Homesick’s Thank You, Mom candle.
In June 2019, Giftalove.com Launches Online Service of Same-day Flower Delivery Nationwide. he company considers it a great move to stay on par with its competitors and create a large customer base nationwide with such efficient and timely online flower delivery service.
The report also provides an in-depth analysis of floral gifting market dynamics such as:
The high adoption rate of smartphones
Higher penetration of e-commerce platforms
Supply chain issue may restrain the Floral Gifting Market
The surge in demand for floral gifting from developing countries.
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By Gift Type, Personal Gifting is expected to witness a high growth rate during the forecast period.