How do new gift basket designers spend all of their cash before making one sale? By buying merchandise on impulse.
I went through the same thing in my early years. When I saw certain products, I bought all the store’s stock. I just had to have it.
Years later, some of that same merchandise was still sitting on my shelves. It was dusty, unattractive, and could not be sold because of age. What a waste of shelf space and money.
After that lesson I asked myself one question before buying anything else: “Which theme can this be added to for a quick sale?”
If I could not answer the question, I did not buy the product.
Consider these three rules before spending another dime.
1. Review your cellophane and ribbon inventory. I know some designers with enough of each to open their own store. Do you really need another roll?
2. Resist the urge to buy everything on clearance. There’s a reason that another firm cannot sell clearance products — their customers see no use for the items. Think realistically: will it sell for you?
3. Re-purpose your own merchandise. If plush toys or tea cups don’t sell within a basket theme, either give it away as a promotional item or sell it as a standalone gift.
Re-purposing won’t always work, so think long and hard before making all purchases.
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