As the holiday season approaches, many families are heading to local tree farms, home improvement stores, or nurseries to find the perfect Christmas tree. However, you may be taken aback by the rising prices associated with both real and artificial trees this year. Industry experts indicate that this season is projected to be the “most expensive ever” for Christmas trees, attributing the price surge partly to millennials, who are increasingly settling down and starting families.
According to a recent report from The Financial Times, the price of real Christmas trees has increased by up to $10, while artificial varieties have seen a hike of more than $20. This price inflation stems from a significant uptick in demand, particularly among millennials who are purchasing more trees than previous generations. With many millennials prioritizing sustainable options, there is a noticeable trend toward artificial trees, but sales of real trees are also booming. Reports indicate a 10% rise in real tree sales over the past five years, with four million more trees sold in 2018 compared to 2017.
The supply chain has struggled to keep pace with this heightened demand. Christmas trees require about ten years to mature, and many growers are facing shortages. “Some tree farmers have less inventory than they would like,” stated Alex Roberts, a spokesperson for the National Christmas Tree Alliance, which represents over 5,000 growers. States like Oregon and North Carolina, which supply a significant portion of the country’s trees, have been particularly affected.
The roots of the current supply issue can be traced back to the Great Recession of 2008. During that period, many growers reduced their planting efforts due to decreased consumer spending. Gerrit Thompson, co-owner of Thompson Christmas Trees in Pennsylvania, elaborated that the long growth cycle of Christmas trees means that the effects of past economic downturns are still being felt today.
The average cost of a real tree has jumped from $36.50 in 2008 to $78 in 2018, with prices rising from $75 to $81 between 2017 and 2019. Notably, the Fraser fir, which is widely regarded as the most popular tree type, has become especially scarce.
While tree farms are optimistic about meeting the demand this year, they advise consumers to purchase their trees early. For those considering artificial trees, experts warn that prices are expected to rise further next year due to impending import tariffs. If you’re in the market for a stylish fake tree, such as the trendy ombré designs featured in our previous post, it’s wise to act quickly.
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In summary, the rising costs of Christmas trees can be largely attributed to a surge in millennial purchases coupled with a historical supply shortage stemming from past economic challenges. As the holiday season draws near, consumers are encouraged to act swiftly to secure their preferred trees.
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