Gifts are more than just presents. They’re a message. They’re a symbol. They’re a metaphor.
When you sell gifts as a gift business owner, you know you’re distributing love, you’re connecting with people, you’re putting smiles on the faces of millions.
A gift is a feeling, a gift is… love 💓.
And now it’s threatened.
We know the damage COVID-19 has made on your gift business. If you sell gifts, you’re pretty much off your job right now.
But… what if there’s a way out of this all? If you have a breakthrough change into the gift market, when all the others are fleeing it? That leaves you… the only one who could satisfy the needs of millions.
Preface
16 November 2019: You are a gift shop owner. You have a nice shop with a steady flow of customers, and you sell gifts for a neat margin. It’s all set and you’re planning to expand your business!
And then… one day later, Wuhan delivers its own gift to the world.
Novel Coronavirus has hemorrhaged the entire gift industry. To sell gifts at such a time and keep your gift business alive appears a faraway dream, and you think you’re falling into a dark well.
Overnight, your gift business has plummeted, no warning sights, nothing! Just straight loss. And now you’re sitting at home, uncertain of what thorns still lie on the path.
The Gift Market Horror
With thousands of people dying every day, millions getting affected, and the government imposing longer periods of lockdown, the COVID-19 has become an uncertain patch for the gift market, and no one knows when it ends.
The eCommerce business in general is seeing huge losses. The mammoth in the room, Amazon, is facing losses greater than $4 Billion! The transport bans, the production limitations, the worker unavailability, the customer limitations, and many other factors have brought the gift industry to a standstill and made it impossible to sell gifts.
What’s more, gift shop owners are having to shut down their businesses to prevent any further loss! Thousands of gift business owners are now unemployed, and now they have no clue as to what the future holds. Yeah, speak of the dark times!
And, what’s the most horrifying for me, this is just the start. The true financial horror is yet to unfold. Currently, the revenue for the gift market is down by ten times, and - in the short term at least - it’s going nowhere but lower.
It is, indeed, a gift market horror… how could anyone sell gifts at such a time? The gift industry is nearly dead.
The Pre Ordering Principle To Sell Gifts
One way in which many gift business owners are trying to sell gifts is by running pre order ads.
Pre ordering is when a customer goes to the website of your gift shop and orders a gift just like normal. However, the delivery terms are different. This means that the gift can only be delivered once the pandemic is over, but till then the gift is safely reserved for the customer.
And that’s a great idea. That does seem to work… at least for the online gift market! Gift businesses that have taken themselves online are making some serious income during the pandemic by allowing customers to pre order their gifts.
But the physical gift shops and traditional gift business owners are left in the dust - and that’s the only way to put it.
The gift shop is locked, it’s illegal to allow customers in, the stock is becoming dated, and there’s now way you can cycle your inventory at this time, and - of course - you are making no money.
But then again, as they say, there’s always a way. And right now, there is. It’s taking your gift shop online. Converting your gift shop into an eCommerce hub. A key advantage of this is, once the pandemic is over, you could run both the shop and the eCommerce business! If you’re a gift business owner and are looking to take your business online, learn how to start a gift store on shoestring budget.
If you have an online gift shop, this video would help you get started with the preorder business:
Well VS Tunnel
At the start of the post, I mentioned you might feel like “you’re falling into a dark well.” If so, it’s time to change your mindset.
There’s no arguing that these are the dark times. However, luckily for us, we’re not in a well - we’re in a tunnel.
You see, the deeper we fall into a well, the darker it gets. But we’re currently in the middle of a tunnel. It is always dark in the middle, but as we move forward, there’s surely going to be light.
What’s more, it’s going to be brighter than ever before!
History is evidence that after every depression, there’s been a boost unseen ever before. It’s going to be no different for the gift industry, and you’ll sell gifts at such a pace, the factories wouldn’t be able to manufacture fast enough!
On average, there are 21 million birthdays a day. Imagine all the birthday gifts missed during the COVID-19 pandemic! People will be crashing into your gift shop to cover up their “gift debt”, and you’ll be the star of the show 🌟!
As Joseph Campbell famously said:
“The Cave You Fear To Enter Holds The Treasure You Seek.”
The 2008 Financial Crisis
The most serious financial crisis since 1930 was the global economic crisis of 2007-08. As an increasing number of people in the United States were unable to pay back their subprime mortgages, the banks were left with little capital to function and were forced to declare bankruptcy.
The best example is the crash of investment bank Lehman Brothers on 15 September 2008.
Much like our position right now, gift business owners (and all other business owners as well) were thumping their heads on the table and seeing no way forward. More loss was the only foreseeable future.
And yet, at such a time, a few select individuals realized they were not in a well, but in a tunnel. They invested further time and money, put more efforts, and bought stock and inventory items and prices cheaper than ever.
They knew once the market boomed again (and it surely would), they’d be billionaires. Of course, I’m talking about Warren Buffett, Rakesh Jhunjhunwala, and many others who made fortunes in the crisis. The following graphs only prove this trend:
Read this Wall Street Journal post for more details on this case study.
This is where you are now, not an investor but a gift business owner. That’s what you have to do. Use this time to prepare a better business plan, understand the gift market dynamic and how it would mold after the pandemic, make the desired changes, and sit tight. You will sell gifts faster than ever before
It's testing time, and we’re going to ace it! And as Mark Twain said:
“History doesn’t repeat itself. But it often rhymes.”
Why The Gift Market Will Boost Post Pandemic?
As we’ve established, the question is not whether the gift market will boost, it surely will. But why, exactly, will the gift industry see a rise like never before?
The big player here is emotions. People are sick of being home! People are sick of skipping birthday parties, anniversary celebrations, festive get togethers, no-reason gifting, and countless other factors!
Customers want to shop, rejoice, celebrate! They want to shift to their normal life… and to do that, they’re going to show some crazy customer behavior after the pandemic. Balancing act, so simple!
What’s more? People have been saving money in fear of the pandemic. What that means is the day the pandemic fades away, they’ll have enough in the bank to repay their “gift debt”! As if that wasn’t enough, millions of people have started exploring online shopping due to the pandemic! People who were never aware of online shopping have become compelled to do so!
How Can I Use This To Sell Gifts?
That means, if you own an online gift store, you’re in business! Get ready to sell gifts, lots and lots of gifts!
But to do that, you’re going to need a great digital presence. You’ll need great Search Engine Optimization, an excellent Digital Marketing plan, and a great user experience on your online gift store. If you’re looking for help, we’re here for assistance!
At Kaivalya.me, we’ve worked with a multitude of gift business owners and have been actively involved in the gift market for the past five years. Our clients are asking for advice, and we’ve just got one answer: if you want to see the biggest spike in your sales ever, you need to stay put during the pandemic and then bear the fruits of your patience.
We know, it’s not easy. While your gift shop is shut, it’s a liability. But trust us, the day the pandemic lockdown goes away, the liability will be far outnumbered by the sales you’ll make.
If you’re a gift business owner and this inspires you, consider our Free Audit and Consultation service. We’ll tell you exactly what to do during the pandemic, how to do it, and we’ll help you do it!
Bottom Line
The COVID-19 has ruined the gift business cycle and it’s hard to sell gifts. But that is if you’re a physical gift shop owner.
The best way out of this is to pitch your gift market online and create an eCommerce store. It’s not easy to get started. That is, if you’re alone.
But you are not alone! You’ve got us! Capitalize on our experience of over 5 years in the gift industry where working with a multitude of gift business owners across the globe.
In January 2020, one of our gift industry clients made $52,799.53 in sales. Even if we're able to help you add a mere 10% of that to your monthly sales, that's still worth taking!
Start seeing the results you dreamed of come to reality with us, and hop over the pothole of the COVID-19 pandemic: check out our Free Audit And Consultation services! We care about you, because you sell gifts.
Gifts are more than just presents. They’re a message. They’re a symbol. They’re a metaphor.
