Ferns N Petals expects to see 45% sales surge on Valentine's Day
As Valentine's Day approaches, Vikaas Gutgutia, Founder and MD of Ferns N Petals (FNP) expects an impressive 45-50% surge in sales compared to the previous year.
Source: Flowers For Valentine
Certain categories like gift hampers and personalised products are poised to experience exceptional 100% growth.
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A shift in consumer preferences towards unique and exclusive gifts, such as personalised flower bouquets and hampers, Vikaas Gutgutia said in a media interview.
Source: Flowers For Valentine
The company is seeing an average growth rate of 40% which witnesses a 2X surge in demand during occasions like Valentine’s Day.
Source: Flowers For Valentine
There has been an increase in the number of wedding celebrations this season compared to the previous year. During the few months of the season, FNP Weddings saw a turnover of 70%.
Source: winter flowers
In the upcoming months, hopefully, the government will address key concerns affecting the gifting industry and beyond.
Source: Eco-friendly gifts
A reduction in GST on delivery charges, currently set at 18%, would greatly alleviate the burden on consumers, making gifts more accessible.
Source: Unsplash
Additionally, an increase in the income tax slab would inject more spending power into the economy, fostering consumption and aiding in inflation control.