The gift market offers a huge opportunity for most artists and makers. Hitting the right price range can boost your sales volume.
Before language was written or money minted, humans exchanged gifts. Gift giving is probably one of the oldest and most basic human behaviors. The act of giving is a powerful act of communication. It enhances and even changes relationships between us and others.
Giving a handcrafted gift speaks volumes about the giver. It says that they care about finer things, and that they took the time to choose the gift carefully. There is a big difference between wrapping a unique handmade gift and simply handing over a gift card. The great appeal of handmade partly relates to shoppers who want to make a statement about themselves as well as delight the recipient.
The average gift sold in a craft gallery sells for about $125 retail. These are not casual gifts; they are offered to close family members or for very special occasions. Weddings, anniversaries, baby and wedding showers, birthdays, Mother’s Day, Father’s Day, or graduation may be the perfect time to purchase that memorable gift.
But he holiday season is the biggest time for gift buying, with fourth quarter making or breaking many stores’ sales quotas for the year. In fact, for most shops and galleries, more than 40% of their entire year’s sales volume happens during the last 90 days of the calendar year as Christmas and Hanukkah approach.
Do you offer handmade items from your studio that hit that popular $125 retail price point? Does your collection include items that are a perfect fit for gift-giving occasions?
The gift category is an important part of any craft art product line. The $50 wholesale item has become a foundation item in most successful studios that is often produced in volume with the help of assistants. Regardless of your medium, consider how your line can fill the needs of galleries that count gift shoppers as some of their most important and consistent customers.