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Square and The National Christmas Tree Association Reveal Why Millennials Might Be Saving the Christmas Tree Industry

November 13, 2018

SAN FRANCISCO--(BUSINESS WIRE)--Nov 13, 2018--Square, Inc. (NYSE: SQ) in partnership with the National Christmas Tree Association released a data report analyzing Square sales from thousands of Christmas tree farmers and sellers across the country. The findings reveal price fluctuations throughout the holiday season, giving consumers a guide to selecting the best day to buy their tree.

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How Christmas Tree pricing and demand fluctuate, from Black Friday to Christmas Eve. (Graphic: Business Wire)

According to Square sales data, the report shows that Christmas tree prices increased 17% from 2015 to 2017, with the average price rising from $64 to $73. Industry experts from the National Christmas Tree Association estimate prices will hold steady this year, with plenty of trees to go around and that every consumer who wants a real tree will be able to buy one.

“While prices have increased over the past two years, this is the first time in more than a decade that many local tree farmers are profitable,” said Tim O’Connor, Executive Director of the National Christmas Tree Association. “Now more than ever, we hope to see families support American Christmas tree farmers, and create their own holiday tradition and family memories of choosing a locally grown tree this Christmas.”

For those headed to the farm, local charity lot, or retailer, Square data shows the Christmas tree buying season kicks into high gear on Black Friday with average price of $77, and prices spike on Cyber Monday, reaching $81. For those looking for a deal, holding out until the week before Christmas could save you about 22%. Prices for procrastinators hit an all time low on Christmas Eve at $47.

This season marks the sign of an early renaissance for Christmas tree farmers thanks to environmentally conscious millennials who are opting to buy natural, locally grown trees, according to the National Christmas Tree Association. Demand previously dipped when baby boomers turned to fake trees as their kids moved out of the house. Christmas trees are now part of millennials’ hyper-awareness and affinity for all-natural and locally sourced food, beauty products, home goods, and more.

Local growers say they are also embracing millennial customers seeking out the perfect social media moment choosing or cutting down a tree.

“This season we’re creating new areas for family photo opportunities, and have a hashtag and geotag ready for our visitors,” said Leah Grant, a 24-year-old Square customer taking over her family’s Christmas tree business, Grant’s Greenhouse, in Williamsburg, Ohio. “We’re also adding more experiential options like a wreath-making workshop and hosting local crafters in the farm’s storefront to help make our farm a tradition for families for years to come.”

About Square, Inc.

Square, Inc. (NYSE:SQ) creates tools that help sellers start, run, and grow their businesses. Square enables sellers to accept card payments and also provides reporting and analytics, next-day settlement, and chargeback protection. Square’s point-of-sale software and other business services help sellers manage inventory, locations, and employees; access financing; engage buyers; build a website or online store; and grow sales. The Cash App is an easy way to send, spend, and receive money, and Caviar is a food-ordering platform. Square was founded in 2009 and is headquartered in San Francisco, with offices in the United States, Canada, Japan, Australia, Ireland, and the UK.

About the National Christmas Tree Association (NCTA)

The National Christmas Tree Association is the national trade association representing the farm-grown Christmas tree industry. NCTA represents hundreds of active member farms, 29 state and regional associations and nearly 4,000 affiliated businesses that grow and sell Christmas trees or provide related services. For information on real Christmas tree selection and care tips, or to find a Christmas tree farm or lot in your area, please visit www.realchristmastrees.org.

View source version on businesswire.com:https://www.businesswire.com/news/home/20181113005347/en/

CONTACT: Square, Inc.

Media contact:

press@squareup.com

KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA

INDUSTRY KEYWORD: OTHER CONSUMER TECHNOLOGY ONLINE RETAIL DATA MANAGEMENT SOFTWARE SMALL BUSINESS MOBILE/WIRELESS PROFESSIONAL SERVICES FINANCE RETAIL SPECIALTY CONSUMER

SOURCE: Square, Inc.

Copyright Business Wire 2018.

PUB: 11/13/2018 08:00 AM/DISC: 11/13/2018 08:01 AM

http://www.businesswire.com/news/home/20181113005347/en

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