The pandemic isn't over and showing your loved ones you are thinking of them has changed. For example, people are sending more presents and flowers.
That's good news for companies like Farmgirl Flowers, which finished 2020 with 100% revenue growth as it adapted to the pandemic way of life. With Valentine's Day coming up this weekend, flower orders are still pouring in for the company.
But a year ago, it wasn't clear that would be the case. "It was actually the most challenging year of my life personally and professionally," Christina Stembel, founder and CEO of Farmgirl Flowers, told Alison Kosik on the CNN Business digital live show Markets Now. "Our sales went down about 85% in the first week after shelter in place went into effect," adding that sales skyrocketed back came back up within weeks.
"We moved our location from San Francisco to a more agricultural community" after the pandemic hit, she said, and the company opened distribution centers to meet its demand for Mother's Day last May.
Once vaccines are widely distributed, Stembel said her business will likely change again. "People will be spending more time with the people they love," she said, and she expects some lower revenue months. But, she added, "we're creating products lines at all product price points."