If you are thinking of starting a gift store or already have one that sells event favors or other premiums, you may want to consider adding gift baskets to your list of products. Gift baskets are becoming increasingly popular as gift items. And thanks to the wide availability of gift basket suppliers, they can be easily sourced.
In this article, we will explore the idea of selling gift baskets online as a business. Stores selling gift baskets have been around for ages. Gift baskets are popular everywhere. Every locale seems to have something unique about their own gift baskets. Some gift baskets are homemade and others are sourced from gift basket wholesalers or gift basket suppliers. Merchants who sell homemade gift baskets usually get their gift basket items wholesale and then bundle the different items together after.
The gift basket business remains largely a localized type of business. This is not necessarily a bad thing. Many online gift basket stores started out as offline stores. The availability of reliable gift basket wholesalers or gift basket suppliers who drop ship has made it easier for offline stores to expand their businesses to the web. However, it’s the perishable items – flowers, food – in gift baskets that restrict merchants of such stores from expanding outside a certain geographic area. However, even with these limitations, gift basket stores are still able to do quite well.
The reason for this could be that many gift basket suppliers are offering very good deals to store merchants. Some stores claim they can make up to 45% profit from selling gift baskets. On average, profit margins hover over the 40% mark. In some cases, it may be cheaper to source complete gift baskets from gift basket suppliers instead of purchasing individual gift basket items wholesale and then putting the baskets together yourself.
Aside from potentially good profit margins, merchants find that gift baskets are a product worth marketing because of their growing popularity among customers. This could be due to the fact that the product now comes in an impressive variety of forms and variations. There are over 1600 choices on the Net. Among the popular ones are fruit, wine, cookies, flowers and chocolates.
A popular idea is marketing gift baskets by themes – the birth of a newborn, weddings, birthdays, anniversaries, promotions – there’s a gift basket for practically every occasion now, thanks to some very creative gift basket wholesalers and gift basket suppliers. And it’s not only individuals who are buying and giving away these things. Hospitals are now presenting gift baskets to new parents or patients who have just undergone successful procedures. Event organizers are giving away mini gift baskets as door gifts. The possibilities are endless, marketing-wise.
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