How much business do rose sellers do on Valentine’s Day?

Ferns N Petals' 'Heart In A Box' rose arrangement at Rs 1,399.

The mid-February day is the sweetest day for every florist in the world. That’s when love-struck couples profess their feelings through a variety of ways — but, particularly, red roses. Every year as India celebrates Valentine's day, the Indian floriculture industry flourishes. Last year, the prices of roses reached a decade high. And it seems headed the same direction this year, too. On Valentine's Day, a bunch of 20 flowers is being sold for Rs 800, with each long-stem rose retailing at Rs 40, which is double the average price. “Valentine’s Day is the most awaited day for every florist. We sell the most number of roses on this day. The enquires and orders start pouring in a month in advance and, sometimes, we even have to decline order as we are short on manpower for deliveries,” says Jagtap Shinde, a florist at the Dadar flower market in Mumbai.

“This year we are seeing a 35-40 percent increase in overall prices of roses which is expected to touch 45-50 percent as we near Valentine’s Day,” says Vikaas Gutgutia, founder-managing director, FNP (Ferns N Petals), the largest gifting brand in India.

But the steep hike will not impact sales, says florist Biswadeep Mondol. “The pandemic has made people more emotional and they want to celebrate every single occasion — be it birthdays, festivals or anniversaries. Valentine’s Day is one such day when people want to show their love and a small hike in prices hardly deters them.” And, it’s not just couples who go all out. “It’s also siblings, relatives, and friends who celebrate this day,” he adds. The wedding season which has coincided with the Valentine week has added to the price hike.

Demand dynamics
According to Arif Fazlani, director, Soex Flora Pvt. Ltd, the demand is also driven by multicultural consumers in economically advanced cities, such as Bengaluru, Chennai, Mumbai, and New Delhi. “The prices for roses this year is going up by 100 percent compared to the previous year. The domestic market has been very aggressive for the first time, providing Indian rose growers with their best Valentine's Day season in the last 25 years. This year, farmers have found floriculture to be a profitable business, with average income rising from Rs 5-6 lakh per acre to Rs 10 lakh.” Soex Flora is India's largest grower and exporter of fresh-cut roses.

For the first time, Indian companies have imported several consignments of roses from South America and Africa to meet the demand-supply gap. “The import of roses is estimated to be 2-3 per cent of the total demand and the industry foresees future imports from Thailand and other Asian countries. The increase in demand is due to both Valentine's Day and the ongoing wedding season. The floriculture market is projected to reach Rs 39,400 crore, with roses making up nearly half of the market,” adds Fazlani.

According to Praveen Sharma, president of Indian Society of Floriculture Professionals, Indian growers and exporters are at an advantage this season in view of the ongoing Ukraine crisis. “Most European growers have taken a break given the uncertainties in the markets, and the fuel crisis has seen many growers take a break,” says Sharma. Due to the fuel crisis, the cost of growing roses has increased and the economic disturbance has led to uncertainties in the markets. Rose growers in Europe have to spend extra to maintain ambient temperature during the winter months.

While orders start pouring in from January 15 onwards it picks considerable momentum between February 7 to 14. That’s when florists from around the world, including India, are the busiest. “Though Delhi, Bengaluru, Mumbai, Kolkata, Gurugram, Pune and Hyderabad contribute to 65 percent of the overall business, tier-II and -III cities/towns like Lucknow, Thane, Jaipur, Chandigarh, Ahmedabad, Dehradun, Nagpur and Guwahati are also catching up,” says Gutgutia.

The flower market around Valentine’s Day in India is estimated at about Rs 500 crore, with major supplies coming from Pune, Bengaluru, Hosur, Coorg and Ooty. “The Indian floriculture market, specifically for roses, has seen significant growth in recent years. The market size reached Rs 231.7 billion in 2022 and is projected to grow to Rs 460.6 billion by 2028, with a growth rate (CAGR) of 13.1 percent during 2023-28. The demand for cut and loose flowers, including roses, has boosted the growth of the commercial floriculture industry in India,” says Fazlani.

And it’s not just roses. “Couples these days want to add another gift, such as a box of chocolates, teddy bear or jewellery to the bouquet of roses. During Valentine’s week, we see a 30-40 percent increase in teddy-bear sales and we roughly sell between 100-200 pieces in contrast to the standard 20-30,” says Nikhil Sawant, a gift shop owner in Mumbai.

Colour mattersWhile long-stemmed red roses sell like hot cakes during Valentine’s week, pink, yellow and white roses are also in demand this year. “This year red roses were the first to go out of stock on Rose Day. Pink rose and white roses are the next sought-after colours. Not only roses but we are seeing an increase in mixed-flower bouquets — roses paired with carnations, lilies, gerberas,” says Gutgutia, who has launched Forever Rose — Ecuadorian roses, dehydrated and injected with a wax-based non-toxic solution. These 100 percent natural roses will last for up to two years, he claims.