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Retail Floriculture, Per Capita Spending Grows

Business for the U.S. floriculture retail industry grew by 9 percent in 2010. According to the U.S. Bureau of Economic Analysis (BEA), the industry hit$35.2 billion in 2010, up from $32.5 billion in 2009.  [Bar Chart- size to 2010]

 

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This assessment puts per capita spending levels for all floral goods at about $114 per person in 2010, up from $106 in 2009 and $112 for both 2007 and 2008.

Following a small upward gain in 2008, when industry growth was less than 1 percent, 2009 was the only year in the past five that the industry shrank in value, falling 4.4 percent. In 2010, the floriculture segment was valued as high as $37.4 billion for the fourth quarter and as low as $32.8 in the first quarter.

In 2009, BEA sharply revised its estimate of the scope of the floral industry to $35 billion, up from $20 billion. The change was based on the results of the 2007 U.S. Census of Retail Trade, but BEA did not disclose precisely how the methodology changed/386/. Industry experts attributed the 75 percent increase to the inclusion of the bedding and garden plants segment. BEA has since revised that 2008 estimate to just under 34 billion and adjusts its figures monthly. BEA estimates total personal consumption of all goods in the U.S. in 2010 at $10.3 trillion, with .3 percent of that spent on floriculture at the retail level.

Keywords: floriculture, BEA, 2010, estimates