The 1600s saw the Dutch tulip market bubble. When it comes to rare indoor plants, they’re now doing the same thing, too.
Since the outbreak of the pandemic, people have been more at home and bored. That’s why they need to find an interest that can relieve that boredom. Here are the variegated plants. In only the past few years, posts on Facebook, Instagram, or the frequency of searches on Google are proof that the market for mutant varieties is becoming increasingly bustling.
The size of the indoor plant market is occupying a very large and potential market today. If the year 2020 is stalled because the COVID-19 epidemic begins to break out, people have not yet adapted to this change. But 2021 has marked the return of people starting to buy and learn about trees. Entering this potential market is both an opportunity and a challenge for companies, gardeners, or individuals.
Growers, nurses, and plant shops are scrambling to keep up. The most coveted flora now fetch thousands of dollars.
- According to one survey, two-thirds of nurseries in the United States increased their sales of houseplants by 15% in 2020.
- This summer, a rare plant in New Zealand was sold at an online auction for $27,000 ($19,000 USD).
So why is variegated indoor plant such a high price?
- The demand for plants far outstripped the amount that could be sold at the current market price, which meant there was a shortage at the original price. This shortage causes the market price to rise. There are fewer people who want to buy the plant because the price has gone up: quantity demanded goes down. It also means that the supplier makes more money when the price goes up, so more plants can be made and sold, which means that both the price and the amount of plants available go up. In this market, there is a lot of demand, but there isn’t much to choose from.
- There are a lot of things that make the price of exotic plants go up even faster because there is more demand for them. You can’t change the demand or supply in this market, so it’s not a good idea to try. If you want to buy exotic plants, there are no substitutes for the species or variety of plants you want to buy.
- For most of these plants, the supply is also very hard to change. While a rise in the price and revenue of some goods leads to more of them being sold, this isn’t the case with truly rare specimens. In most cases, these plants are rare, slow-growing, and hard to propagate. Suppliers can’t just make more plants on the spot. This means that the price of plants goes up more than the number of plants that are available goes up.
How interest in three specific, popular genera of plants has changed.
The graph below shows interest in Monstera and Philodendron through search frequency.
Interest in all three hasn’t gone down, but it’s still high. There hasn’t been a big change in the number of people interested in each of them in 2021.
Analyze the level of interest for keywords
In the media, we have seen particular interest in “Monstera“, “Philodendron“, “Alocasia” and “Indoor plants”. However, the keyword “Monstera” is still the most searched for by people on Google, especially in the Americas: Canada and the US. Xanh Xanh’s goal will be to enter this large and potential market.
Meanwhile, the United Arab Emirates is the most interested in Indoor plants with 52% of the total searches for keywords. This is followed by India, the United Kingdom, Ireland, and Australia, respectively. We will focus on providing information and plants belonging to the Indoor plant to grow more in the markets of these countries.
“Philodendron” and “Alocasia” are the two most popular keywords in Asian countries. Typically, the Philippines spends 46% of searches for Philodendron and Thailand spends 39%.
Trends in Indoor plants in social media.
Millennials form emotional bonds with their plants (going as far as naming them). With the rise of “plantfluencers,” people who show off their plant collections and unboxing videos on social media, there has been a lot of attention and buzz about these things, which has led to a lot of people becoming interested in plants.
You can also make a video on this app called “TikiTok.” There are a lot of people who use hashtags like #planttok or #plantoftheday to connect with other people on the video-sharing site. Many people now want plants like these because they help them get there. The plant of the moment is the monstera, which is a big, flowing aroid with huge, split leaves that look like flowers.
The indoor plant market is growing worldwide. Each country has different needs and approaches. The goal of Xanh Xanh next year will be to be more developed in major markets such as the US, Canada, etc. And we will become the most prestigious and quality supplier in this market.