Valentine's Day, contrary to popular belief, is a holiday filled with history and tradition worldwide. There are several different legends that surround Valentine's Day and Saint Valentine himself. Legends vary from culture to culture, and so do the traditions and the ways that the holiday is celebrated.
globalEDGE Blog - By Tag: flowers
The Flower Market has a budding future ahead of it. Though there may be slow growth in some places, changes are taking place worldwide as flower markets emerge and disappear every day. New markets like Russia emerge and disappear while others like Ecuador and Kenya emerge and find the competitive push back from India and China.
The international flower market seems to be growing faster than the plants themselves. Over $100 billion worth of flowers are traded internationally each year. It is easy to assume that most flowers are grown locally, but you would be surprised to know that most likely that the bouquet sitting on your table is not from your own country. In the United States, imports account for 68% of fresh cut flowers. These flowers mainly come from Colombia, Ecuador, The Netherlands, Costa Rica, Mexico, and Canada.
One of the fundamental rules of logistics is to avoid shipping air and water whenever possible. Packages and vehicles are optimized to reduce the amount of wasted space that could be used to ship additional products. The weight of water is so expensive to transport that many industries design an entire supply chain around reducing the distance that liquid goods must travel from the point of production to the point of sale. For the flower industry, in which the quality and lifespan of goods are often dependent on the presence of air and water, logistical challenges of doing business on a global scale are of high importance.
As we kick off our International Flower Market blog series at globalEDGE this week, I thought I should do a brief article talking about the history of flowers, specifically from an economic perspective. This is pretty intriguing because as a commodity flowers have no intrinsic, economic value. They just have value as decoration and whatever other cultural values are placed on them. That being said, the flower market is currently a $32.5 billion industry. Looks like flowers are much more than just a hobby for retirees.