5 Gift Product Ideas For Businesses
December 11, 2024
Not all of your consumers may be looking to buy your products or services for themselves. In fact, many companies generate the majority of their income through gifts bought for other people. In the lead up to Xmas and other gift-giving events, it’s important to consider how your business can market itself to gift buyers. Below are a few examples of gift products that could be worth introducing to help increase some revenue.
Key Takeaways on 5 Gift Product Ideas
- Gift Cards Are a Revenue Boost: Offering physical or digital gift cards provides upfront income, and recipients often spend more than the card's value, increasing profits.
- Gift Hampers Bundle Value: Combining popular products into hampers encourages bulk purchases and provides a unique gift option, especially for food or spa items.
- Experience Vouchers Appeal to Givers: Selling experiences like dining, spa days, or tours provides a memorable gift option while securing funds even if unredeemed.
- Personalized Items Enhance Appeal: Customizable products with names, initials, or photos add a personal touch that customers find irresistible for gifting occasions.
- Gift-Wrapping Adds Convenience: Offering gift-wrapping services saves customers time and effort, making your store more appealing, especially for mailed gifts.
- Appeal to Gift-Giving Events: Highlight gift options during key seasons like Christmas to tap into the gifting market and drive seasonal sales.
- Invest in Training and Tools: From gift-wrapping skills to personalization machinery, small investments ensure you deliver quality gift options that impress customers.
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START NOWGift cards
Gift cards are a popular gift option that are not only offered by retailers, but also many cafes and restaurants. They can come in the form of a physical gift card that you can give out to customers in person at your store, or as a digital gift card that customers can buy via your website.
Gift cards can be very profitable gift products. When someone buys a gift card, you immediately receive money upfront. If the recipient uses the gift card, there’s a chance they may spend more than the amount on the gift card - which could be more than they would have otherwise been willing to spend. If the recipient never uses the gift card, then it’s essentially free money for you.
Gift hampers
If you sell a range of small products, you may be able to bundle a few of them together in the form of a gift hamper. This can be a great strategy for selling more products at once. Popular gift hampers include food hampers and spa hampers.
You can buy wicker hamper baskets in different sizes online. Think about which products people are likely to want to buy together as a gift and put these into your hamper. While you should mostly try to build a hamper out of popular items, don’t be afraid to also throw in some more unusual products to make your hamper unique.
Experience vouchers
It’s possible that you may be able to sell an experience as a gift in the form of an experience voucher. Restaurants, hotels, spas and extreme sports companies are all examples of experience-based companies that often sell experience vouchers. Meanwhile, companies like breweries sometimes offer experiences in the form of tours or classes.
As with a gift card, you receive money upfront and get to keep it whether or not the recipient redeems their voucher. Most companies require recipients to redeem the experience within a year.
Personalised items
Personalised items are very popular as gifts. This often involves applying a name, initials or a message onto a product. In other cases, it may include printing a photo onto a product. T-shirt printing companies, chocolatiers and jewellery makers are examples of companies that often sell personalised gifts.
Mass-producing personalised gifts typically involves investing in specialist machinery or software. Alternatively, you could provide bespoke handmade gifts - these will typically take longer to produce and so you may have to charge more for them.
Gift-wrapped products
Some companies offer gift-wrapping as a service. This saves customers the job of having to wrap a product themselves.
It can particularly benefit customers who are thinking of mailing gifts to people - customers can opt to have products gift-wrapped and order them straight to the recipient’s address. Of course, staff will need to be trained how to wrap properly.
