Giftware retailing is a very rewarding business but there is lots of competition so you need to understand what will differentiate your business from other competitors. One of the many hurdles is understanding that, more often than not, a particular type of customer would be looking for gifts that suit a specific purpose. For example, if you were to check out these gift ideas for lawyers, you’d know that these gifts wouldn’t suit people of other profession. If you are considering opening a retail shop then location is key. There needs to be enough potential customers passing by your door otherwise you will need to spend more on advertising. When selling gifts you need to make sure you cover all aspects of gifting weddings, new baby, Mother’s Day, Father’s Day, Birthday’s etc. Men are notoriously hard to buy for so having a wider selection of mens gifts is a winner as it gives the customers more choice. A selection of soft toys are another good product to stock as they appeal to all ages. Consider gifts for pets and pet lovers as this is a big market now.
Mugs and plaques are one of our biggest sellers as they are low cost and display well. Consider making up gift hampers as this is a great way to use your time when business is slower and if customers see you making then up when they come in it will create interest.
Make sure you stock a good selection of gift bags, gift boxes, wrap and greetings cards plus sticky tape and ribbons as this is a good add on sale. Instead of using merely word of mouth and a website to market your business, try to expand and use social media on which you can find more information on https://www.salesforce.com/blog/2017/08/guide-to-social-selling as it is undoubtedly the easiest, most cost-effective and vast network which you can use to increase your sales. Also consider offering a gift wrapping service as many people are time poor now and men in particular hate wrapping presents!
Expanding your existing product offer by gift retailing is a great way to grow sales ie coffee shop, florist shop, pharmacy, clothing boutique – we have many customers who have successfully added gifts to their existing business and seen a big improvement in repeat customers and footfall. Many of the big retailers do this now and the garden centres.
Selling gifts online is a growing area but you need to be able to differentiate your website from the many others out there. Trial on Facebook & Instagram initially as you will quickly learn what people to react to and build up your customer base from here. If you have a retail shop having a website is essential too so and if you build up an email list you can then drive customers to your website as well as inviting them to store events.