Why Picking a Gift Basket Niche Can Be Helpful or Harmful
When starting a gift basket business, you might consider beginning with a specific niche such as baskets that only contain:
- Baby items
- Bath products
- Gifts only (no foods)
You’re not alone. I also considered this angle and began making gift baskets with non-food items. Business was pretty good, as my target market was pleased that recipients would always have mementos rather than products that were eaten and forgotten.
When the opportunity came to promote my business on The Food Network, my model changed overnight. There was no way I could appear on a cable station that was all about food and not show any.
That was the turning point for my initial niche, and it was fine. Even though I had to buy more inventory, business was more profitable because I earned more revenue promoting gift baskets to millions of people rather than selling to a few people in my circles.
This is one of the crucial decisions designers make when we work together in one of the three gift basket VIP programs, and it’s a tough decision. When you want to go right, but your target market says go left, deciding how to proceed takes time. However, having expert guidance that helps you make choices based on long-term potential creates:
- Satisfied customers
- Happy family members
- A lucrative business
What part of your gift basket business can use a boost from expert assistance?