Grow Your Gift Box Business
The gift box business is seasonal. Sales shoot up during the holidays and when tourists and vacationers set foot in town. If you own a gift store, here are nine ways to keep the cash flowing and your business scaling no matter the season.
Advertising through traditional channels is archaic. Instead of radio, print and television, leverage social media and create a website. Facebook offers a fast and cheap way to reach target customers. Upload gift box pictures on Pinterest and Instagram. On your website, write blogs about gifts. DIY tips, shopping guides and gift ideas make your website engaging.
Advertise Up Front
Don’t wait until you’re in business. Start advertising before you open a store. Use your social media handles to pique interest. Think of a movie trailer. It arouses curiosity before the official movie hits the cinemas. A sneak peek of your gift boxes draws customers and keeps them anxious.
Know Your Locale
Sell products with a local connection. Examples include locally made goods and merchandise with local themes. Since customers prefer businesses they know and trust, cultivate a strong image within the community. Optimise your website for local search, get to know the locals and localize your marketing campaigns.
Use Sensible Hiring Practices
Exercise discretion and due diligence when hiring seasonal employees. Conduct background checks and ask for references. Hiring friends and family members can cripple your profitability. Hire a salesperson that’s highly productive, goal oriented, opportunistic and competitive. Good performers promote your products and fast-track sales.
Clear It Out
Old is gold but not in the gift industry. You have to refresh your store and merchandise. Toss out old stuff or have a clearance sale. Sell when there are many shoppers in town. Sales are often poor during the off-season. So make a killing when there’s a shopping frenzy.
Pick Products Wisely
Wrong products lead to dismal sales. Stick to best-sellers or top-selling items. Slow-moving products are business killers. Saleable gift boxes have a wide profit margin and customers love them. Lucrative gift stores offer flash sales to spike impulse buying.
Encourage Shoppers to Buy
People on vacation are known to be big spenders. For these guys to flock your store, be unique and outdo competitors. Display items thoughtfully instead of racks-and-racks of the same stuff. Highlight new uses and designs for older products. And come up with showstopper signs.
Expand your business or start a retail chain. This stabilises your profits during booms and busts. The ups and downs of the business cycle can plummet or skyrocket your sales. Never rely on such an unpredictable economy. For example, let your customers design their own gift baskets.
Maximize the Off-Season
Successful retailers use their downtime to refresh and prepare for the next gift season. Clean the store, crunch the numbers, refocus your strategies, and take sales courses. Improve your wares and tweak your prices to return with a bang.
That’s what it takes to grow your gift baskets company. Remember, without sales, your business won’t thrive, let alone survive. Do your best to keep those orders coming.