Are you searching for unique gifts that can be used to stock the shelves of your gift shop? Finding the right gifts that are going to be popular and that customers are going to come into the store for is going to increase the chances of your gift shop’s success.
What are some of the things you should consider when buying gift items wholesale?
Consider Customer Demographics
To have a successful store, you’re going to have to consider the demographic of customers that are shopping at the store. Consider their age, popular events and occasions that they are going to purchase gifts for and the budget that they are going to be shopping with. This way, you’re going to be on track with the items stocked in the store.
Tip: Learn about the demographics of your customer while you are promoting the store. Who is going to be shopping at the store? What type of job do they have? What types of items are most popular with the demographic?
Consider the Performance
There are some items that you might bring into the gift shop to see if they are going to sell. These experimental items should be brought into the store in small quantities to determine the length of time that it takes to sell the items. Items that have performed poorly in the past and that have had a slow turnover time should be skipped for something that might be more popular.
Tip: Track the performance of new items, ask customers their thoughts about new items through surveys and promote new items that are coming into the store.
Consider the Price of the Item
What are you going to earn when it comes to the profits of the store? To determine this, you should determine the wholesale cost of the item and the selling price. Other factors that can be used in this decision include the cost to store and market the item and also the loss that may be potentially taken when the item is on sale.
Tip: Look for quality items that are going to sell, but items that are going to be purchased for as low as possible. Finding the balance between these two factors is going to increase the chances of the gift store becoming a success.
Consider the “Trend Factor”
Though there are tried and true gift items that are easy to sell, you might want to consider the ‘trend factor’ of the items that are being brought into the store. In order to be successful with these types of items given as gifts, you’re going to have to be ahead of the trends and stay on top of what’s current and hot.
Tip: Attend gift shows throughout the year that are held to include the latest and new items. You’re going to be able to create relationships for the stock in the store and also find the latest trendy items in gift giving. It’s a great place to build business relationships and connections.