Rising interest rates and a dying trend; What has happened to plant shops that enjoyed pandemic success?

Several plant shops around Brisbane have been forced to close their doors for the final time despite enjoying Covid pandemic success.

Owner of The Plant Lounge in Nundah, Rhiannon Meertens. Picture: Richard Walker

Some Brisbane plant shops have been forced to close their doors for the final time despite enjoying Covid-19 pandemic success, with owners saying their decision was driven by interest rate hikes and other small-business concerns.

Indoor plant purchases have soared in popularity in recent years with phrases such as “urban jungle” and “rainforest room” trending on social media and in the home decor spaces.

However, despite the public’s new-found love for indoor (and outdoor) plants, plant shop owner Rhiannon Meertens at the Plant Lounge in Nundah says she has been forced to make the hard decision to close her store despite enjoying Covid-19 success.

“We are making about one-tenth of what we were two years ago, and my husband and I are working full-time jobs again,” Mrs Meertens said.

“Covid opened us up to a lot more people, due to the fact people were more likely to be at home, had more disposable income and were intent on making their spaces feel more comfortable.”

Windsor’s The Borrowed Nursery owner Lauren Lance said she also noticed a drop-off in people’s willingness to buy plants and said interest rate rises had played a huge factor.

“During Covid times people had a lot of disposable income and were encouraged to buy local so businesses like mine absolutely boomed,” Ms Lance said.

“We had this huge increase in sales and now with interest rate hikes people are struggling and of course plants are not considered as necessities.”

The Plant Lounge isn’t the only Brisbane-based plant store to close its doors in recent weeks. Houseplant Hoarders in Hendra and Cleo and Louis in Ascot have also shut shop.

“We sadly faced an uphill battle which has left us feeling depleted and very unhappy,” Bec the owner of Houseplant Hoarders said.

According to Greenlife Industry Australia, in 2020 Australians spent $2.6m on plants.

This year the Australian Small Business Index reported an 11.1 per cent decrease in sales across the board in November 2022 compared to the same time in 2021.

The Plant Bunker owner Tennille Leslie said despite a significant decrease in plant sales, it wasn’t just her industry that was struggling.

“All my small business friends have closed (including online), are deferring debt or talking about not taking a wage to keep the business afloat,” Ms Leslie said.

“This isn’t just plant shops, it’s my friends with cafes, gyms, shops … it’s all small businesses.”

Marion Glover at The Plant Lounge. Picture: John Gass