New Varieties Digital Guide 2023 - 44

Millennials
BY MELINDA KNUTH
Melinda Knuth is an
assistant professor
in the department of
horticultural science
at North Carolina
State University
and a member of
GPN's 40 Under 40
Class of 2021. She
can be reached at
mjknuth@ncsu.edu.
The words " millennial " and " houseplant " have
been used in conjunction for the past few years in the
horticulture industry. Millennials are defined as U.S.
consumers ages 26 to 42. Generation Y (colloquially
called millennials) is currently settling into their adult
lifestyles. These 26- to 42-year-olds are facing lots of
firsts: their first home, first job and first independent
income. In fact, in 2020, nearly 40% of
first-time home buyers were older millennials
(34-42 years old).
Generation Y is trying to find the right
balance between spending for necessities
and for entertainment. This generation is
concerned not just with function and utility,
but also with style. They are more ethnic
than previous generations, where 15% of
today's 20- to 34-year-olds were foreign
born and 21% of young adults are Hispanic.
They should not be ignored. Millennials'
current buying power equates to
$200 billion, with indirect spending reaching
$500 billion. Their incomes are expected
to increase as they age and move more into the
permanent workforce.
Yet millennials specifically have an average income
lower than the average of the generations before
them, have high student debt from education and
were hit hard by the recession. This adds up to lower
purchasing power and cost-conscious decisions. They
are getting married later in life and becoming parents
at older ages than their own parents.
While many have begun to purchase their own
homes and start their own families, the average
millennial is less financially secure than their Baby
Boomer parents were at a similar point in their
lifecycle. This, along with the scarcity of affordable
housing, means that millennials very likely will remain
renters longer than previous generations. The share
of young adults living with their parents has risen
from 30 to 36% in 1981 to 58% in 2021. This may not
be a change in preferences but more likely a reflection
of realities.
In the fastest-growing urban areas, renters are
typically apartment dwellers with little or no access
to outdoor gardening spaces. As such, many have
turned to indoor or patio gardening. There is reason
to believe that when the economic environment
improves, a certain amount of postponed demand
could be unleashed.
But there is also strong evidence to suggest that
unemployment during their early career years will
have a negative impact on earnings prospects in
the long term. Income lost during a recession and
44 NEW VARIETIES 2023 DIGITAL GUIDE GPNMAG.COM
Houseplants
Houseplants in Action
and
BY ABBY McGARRY
The 2021 National Gardening Survey found 16 to 18 million new
people started gardening during the previous year, and with that
came a huge interest in an already growing market: houseplants.
Traditional players are ramping up their foliage programs, while
other companies are getting into the houseplant space for the
first time, all focused on providing quality houseplants year-round
for retailers and consumers. Even breeders who do not have
houseplant-specific collections are seeing an increased interest in
their indoor plants
Earlier this year, Costa Farms, who has had a strong focus on
houseplants for decades, launched a branding effort and consumer
marketing campaign focused on educating and engaging with the
end consumer.
" If you look at brand studies on indoor right now, it's a wide-open
space, " says Justin Hancock, senior brand marketing manager at
Costa Farms. " And so, we really think that we have the opportunity
to, in five years, be the company that has major brand awareness
within indoor. "
Costa Farms has about a dozen different collections, including
Plants of Steel, reportedly the easiest houseplants you can grow;
02 for You, houseplants that filter out chemicals in the home; and
Trending Tropicals, commercially rare varieties for the houseplant
lover who is always looking for something new.
Last year, Proven Winners partnered with The Plant Co. in Stuarts
Draft, Virginia, to market houseplant varieties under the Proven
Winners brand. Now Leafjoy by Proven Winners has emerged with
four potted plant collections and one hydroponic line:
* Atrium Collection: high light plants for bright spaces,
* Cocoon Collection: low light plants for calming spaces,
* WorkLife Collection: space-saving plants for desks
and tabletops,
* SpaScene Collection: plants for warm, humid spaces, and
* H2O Collection: hydroponic plants for zero
maintenance growing.
Leafjoy plants include variety-specific labels and supporting pointof-purchase
materials such as posters and benchcards for retailers.
Around the same time, Dümmen Orange signed an agreement
with Smit Kwekerijen, who sells houseplants under the brand name
Eden Collection in Europe. These genetics are now part of Dümmen
Orange's Welcome to the Jungle (W2J) program, which includes a
large collection of foliage plants from unrooted cuttings.
The 50 plus varieties can be grown anywhere and are suitable
for any grower located throughout the U.S. and Canada. The
houseplants can be started from plugs or direct stick. All varieties
can be grown in 10 to 14 weeks in 4- to 6-inch pots.
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