With November already in full swing, Christmas is just around the corner, and that means it’s almost time to buy a Christmas tree. This season marks the beginning of an early renaissance for Christmas tree farmers as the result of environmentally conscious millennials who are opting to buy natural, locally grown trees.
Square Inc. (NYSE: SQ), in partnership with the National Christmas Tree Association, released a report analyzing Square sales from thousands of Christmas tree farmers and sellers across the country.
Results from this study have shown that demand previously dipped when baby boomers turned to fake trees as their kids moved out of the house. However, there has been a resurgence as Christmas trees are 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.
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.
Square data shows the Christmas tree buying season kicks into high gear on Black Friday with an 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.
Tim O’Connor, executive director of the National Christmas Tree Association, commented:
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. 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.
24/7 Wall St.The Average American Is Losing Momentum On Their Savings Every Day (Sponsor)
If you’re like many Americans and keep your money ‘safe’ in a checking or savings account, think again. The average yield on a savings account is a paltry .4%1 today. Checking accounts are even worse.
But there is good news. To win qualified customers, some accounts are paying more than 7x the national average. That’s an incredible way to keep your money safe and earn more at the same time. Our top pick for high yield savings accounts includes other benefits as well. You can earn a $200 bonus and up to 7X the national average with qualifying deposits. Terms apply. Member, FDIC.
Click here to see how much more you could be earning on your savings today. It takes just a few minutes to open an account to make your money work for you.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.
You can follow him investing $500,000 of his own money on our top AI stocks for free.