Get to Know Funeral Business Trends/?php print $breadcrumb; ?>
How is your sympathy business? If you are aware of the trends, this segment could be a larger part of your revenue. In this blog post, we'll share with you select trends in this space that could impact and/or be complemented by the floral business. We'll then blog about several digital strategies you can use to leverage this growth segment.
Trend: Rising Mortality Rate
We don't intend to be morbid, just presenting this fact. The number of deaths in the United States will continue to rise in 2017 and will likely accelerate through 2021. Baby boomers, please relax as we're not thinking of your generation today but of your parents (and then you beyond 2021).
A hint of digital strategies we'll present in later blogs -- more people will begin to do more searches for funeral services for their parents and even for themselves as preplanning is also a growing trend among baby boomers. A potential opportunity is to market flowers as essential part of the preplan process.
Trend: More cremations and "green" funerals
You may be doing less casket sprays nowadays so you may think this is not such a great trend for florists but as we just shared, burials will rise so you need to adapt to more cremations and explore offering or partnering with vendors who provide a variety of new services such as video tributes, burial garments, memorial urns, and keepsake jewelry.
As you know, anything environmentally friendly or "green" is a growing overall movement -- this trends also influences the sympathy business. Think biodegradable coffins made of recycled paper, urns made from recycled materials and even options allowing to mix the deceased's ashes into concrete to drop in to ocean to form a reef for sea life!
Trend: Pet funerals
To many, pets are truly a part of the family turning pet owners into pet parents. This strong bond between pets and owners drives a higher overall higher spend on pets which includes funeral services. In general, pet owners will likely cremate their companions and want a funeral or memorial service. Right now, there are 725 funeral homes, crematories and cemeteries catering only to pets -- and the market remains underserved.
Some more stats: pet spend grew by 6.3 percent to 68 billion in 2016 and projected to increase by 5.4 on average per year through 2021. By 2021, the dog population is expected to reach 89.8 million while the number of cats will reach 104.7 million. That's a lot of pets! And potentially, lots of pet funerals needing flowers!