When Valentine's Day comes calling, it means the peak season for most businesses in the lifestyle and leisure segment. Since it is the month of love, flowers take the largest share of this cake. It is no different in Kenya as people take this opportunity to make most of the profits from this special day.
According to reports, sentimental spending in Kenya and the wider East African region spiked considerably during this season with an increase of about 32 per cent in the last three years.
We spoke to Bursting Petals CEO Florence Chege, who said despite the economy having been hit hard by the COVID 19 pandemic, she still remains optimistic of good returns this Valentine's Day. Her company creates bespoke bouquets and other arrangements all year round and especially during special occasions such as Mother's Day, Christmas and now Valentine's Day.
Florence is not only targeting the local Kenyan market in her endeavour but is also looking to Europe, The Middle East and other parts of the continent to sell her creations.
Kenya still ranks favourably among top cut-flower producers and exporters in the world. According to a report by Market Research Company, Mordor Intelligence, the Kenyan floriculture market was valued at USD 861.6 million in 2018, and is projected to register a CAGR of 4.7% during the forecast period (2020-2025). Roses remain to be the most popular cut-flower with production valued at USD 592.4 million in 2019.