For a few years now, American consumers have been confused and anxious about the economy — putting a real strain on business owners trying to navigate uncertainties and plan for the future.
There is reason to believe those anxieties might be fading. Consumer confidence rose after several months of declining, according to the Consumer Confidence Index, and consumers spent 0.8% more in April compared to March, according to the Consumer Price Index. The rate of inflation has slowed, with the April Consumer Price Index falling to 3.4% from 4.9% a year prior. Unemployment remains low at 3.9%. And, the gross domestic product, a measure of the country’s economic health, increased by 1.6% in the first quarter of 2024.
If the economy continues to improve, are you ready to grow your business?
“I might not be able to control economic factors, but I can control how I respond to them,” says Lori Wheat, AAF, who will become the Society of American Florists’ president-elect, in August, and CFO and marketing director her family’s 75-year-old business, Lafayette Florist, Gift Shop and Garden Center in Lafayette, Colorado. “And I can guarantee you that our business will be positioned to accelerate.”
Wheat’s plan of action includes attending SAF Miami 2024, SAF’s annual convention Aug. 6-9.
“I always come home from convention with new insights and ideas to implement in my business,” she says.
The convention was designed to help floral businesses in all segments gain valuable insights into the economy and industry and deploy new ways to leverage how consumers and businesses are evolving.
Here are a few convention highlights guaranteed to help your business grow.
Gear Up for Growth: Economic Insights to Guide Your Business, SAF Chief Economist Charlie Hall, Ph.D.
Gain insights into the economy, what to expect in an election year, and trends in flower and plant sales — all of which is guaranteed to provide guidance for your business decisions. This keynote is followed by a panel discussion with progressive business executives about how they’ll use that information to prepare their businesses for 2025.
Secrets of a Growth Oriented Culture
Delve into the culture DNA with a panel of executives from successful floral organizations and uncover the hidden forces shaping your workforce, threats to your company culture, and the key to ensuring that your culture is serving employees your brand and your growth objectives.
Modern Day Ways to Drive Sympathy Sales
Sympathy sales have changed drastically in the last decade, with funeral homes taking a commission which in turns erodes what was a healthy revenue stream for florists. A panel of retail florists who have built a niche in sympathy sales show you how to build trust, create value, and secure profitable relationships with funeral homes.
Under The Microscope: Unlocking the Key to Double-Digit Growth, Carlos Muina of Petal Productions
Carlos Muina has transformed Petal Productions into a thriving enterprise by streamlining efficiencies, building a dream team and developing lucrative relationships with vendors. In this session, Carlos will reveal the key strategies he used to scale his business.
Building Profitable B2B Business Partnerships
Unrealistic customer demands chip away at the value of otherwise profitable corporate accounts. Hear from a panel of retailers with a robust B2B business how they convert prospects into regular accounts and turn a profit through transparent contracts, automatic invoicing, and appropriate pricing.
For a complete schedule of events, and to register by June 6 to receive the early bird pricing, click here.
Amanda Jedlinsky is the senior director of content and communications for the Society of American Florists.
