How To Start An Online Gift Shop?
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Australians spend $20 billion on gifts every year!
Whether it’d be for a wedding, a housewarming party, a birthday, a baby shower, or Christmas, the number of occasions to surprise their loved ones with gifts is endless.
But Aussies aren’t the only ones splurging.
In fact, the global gift industry should be growing at a steady annual rate of 2% over the next few years as consumers worldwide are seeking personalised and meaningful gifts to reconnect with their loved ones and show their appreciation after two years of pandemic.
So, if you’re creative or simply love finding meaningful gifts for others, here are four steps to start an online gift shop.
Starting An Online Gift Store
Define Your Niche
Sure, you could be selling kangaroo key rings, Manuka honey beauty products, handmade soaps, wines, fashion items, home décor accessories, and toys. After all, gift ideas are infinite!
But sourcing products from so many different niches would make it hard for you to have a cohesive and recognisable branding. The best strategy is to find a niche such as souvenirs, handmade items, or personalised gifts and build your brand around it.
This will avoid diluting your brand and confusing potential clients while allowing you to define your ideal customers and establish yourself as the go-to in your niche.
Pick Your Products
This is a critical step. To source the best products for your shop, follow the trends and establish great relationships with reliable suppliers.
Here are some current trends in the gift industry:
- Value desirability: minimalism is an upward trend, and an increasing number of people are streamlining their lives. That’s why shoppers are now looking for meaningful yet practical gifts they know the recipient will use.
- Personalisation: 85% of consumers say personalisation is a significant factor when buying a gift for someone they care about. Offering a made-to-order or customisable gift range could be a great way to tap into this growing demand.
- Self-care gifts: two years of working from home at least a few days a week have prompted many individuals to reassess their priorities and place self-care and celebrating life itself at the core of their lives. That’s why wellness-oriented gifts are gaining tremendous traction.
Choose Your E-Commerce Platform and Marketplaces
Once you’ve defined your niche, ideal customers, and products, it’s time to create an eye-catching and high-converting website.
Even though you can use the services of a web developer to create a fully customised website, these days, there are much easier and inexpensive options to build one for yourself.
And if you sell vintage or handmade gifts, another great way to promote your services is to open a shop on Etsy, a marketplace that connects independent sellers and shoppers looking for unique items.
Protect Your Gift Shop With Business Insurance
Because you’ll be selling products on your website, you need to protect yourself in the event one of your customers gets injured while using one of your items. And that’s exactly what Product Liability Insurance is designed to do.
To find the best policy for your business, check out our instant quote generator, where you can get an estimate on market-leading insurance in seconds! Simply enter your occupation and expected revenue to get started.