Technology has always been the backbone of the Ferns N Petals business
Vikaas Gutgutia, MD & Founder, Ferns N Petals
The year began with chaos and introspection. Covid- 19 has changed the dynamics of operations not only for Ferns N Petals but every business across the globe. However, as this highly unforgettable year is coming to an end and a fresh new one is upon us, we are hopeful and can predict a more stable future for FNP.A number of highly promising Covid-19 vaccines are on the vergeof release and once they start administering them under emergency use, hopefully we should be at the end of the Covid period.
For FNP the main points of focus for 2021 will be-
Expansion– It has been a massive organisational task that we are planning to undertake in the next process of business plan. We have launched our services, as well as store operations in Saudi Arabia and Indonesia. FNP records double-digit growth in sales and revenue in the UAE, with the aim of expanding to KSA during the next quarter. With existing delivery service across Dubai and Abu Dhabi, we have created a niche in the UAE’s online market. As a part of our key expansion plan, we have opened a new retail store in Sharjah. The expansion in Sharjah will help customers choose from the wide range of gifting options and avail the satisfaction of taking them home right away. Since establishing FNP’s first branch in Dubai, UAE, the brand has seen tremendous revenue increase, and we are confident about the incredible opportunities the region has to offer. We are now aiming to enter a new international market every three months. Ferns N Petals is constantly expanding into other sectors as well.
Upgrade and Invest on Technology– We live in unpredictable times. The retail sector has been undergoing rapid digitalisation in the past couple of years. The Covid-19 outbreak has not only changed our day-to-day life but also the way business operates. Technology has always been the backbone of the Ferns N Petals business. Being a crossover entity, we instinctively use technology as the first resort to every problem we face. This pandemic has called for more of it. The core of our business is “Delivering Human Emotion”. Before this pandemic, 98% of our business involved doorstep delivery of gifts or flowers, which was rendered impotent due to the nationwide lockdown. To deal with this slowdown in business and depleting market sentiments, we turned this business disruption into an opportunity by developing Digital Gifting, which is absolutely contactless and delivered directly on the recipient’s mobile phone or email. We have ambitious growth plans, as we are moving towards a data-driven approach and embracing the power of data and technology, we are planning to invest up to INR 30 crores in technology in the next two years to boost our e-commerce segment and to become the Uber of gifting services.
Reach Every Pin in the Country –Ferns N Petals is the first and the only Indian floral and gifting brand that has 400 outlets in 120 cities nationwide and we deliver across 170 countries worldwide. Our services are available to customers in India wanting to gift their loved once abroad. At FNP we believe no destination is far. We also aim and aspire to be able to reach to different geographies of the country in terms of store presence and delivery options.
Focus on Personalized Gifting– Personalized gifting is making waves with its unique and bespoke styles. We have seen an increase in the purchasing power of Millennials. The increase has led to the changing buying patterns of consumers, a huge chunk of which is personalized gifts. Lifestyle,influence of social media and influence of the western countries also has given quite a boom to the personalized gifting market. We, at FNP have a very strong hold in the segment and therefore can foresee the potential this category of gifting possesses.
Focus on Plants Market–We observed a strong increase in the demand for plants, indoor plantsover the past couple of years and more so this year. Initially, plants were only used for decorative purposes, but now with the increasing air pollution and unhealthy living conditions, especially in the metro cities, it has become one of the major factors driving the indoor plants market in India. Additionally, ease of purchase, low maintenance, costeffectiveness; home décor and aesthetics are further fueling growth in the market. FNP will definitely focus on this evolving segment.