Gift Basket Inventory:
How, When and Where to Buy
by
Flora Morris Brown, Ph.D.
An important part of your success as a gift basket designer is buying inventory wisely. Here are some tips to keep you on track:
1. Buy what your customers want, not what you like.
When I attended my first gift show I was captivated by the beautiful gifts, colorful supplies and delicious gourmet food. I bought what I liked, but unfortunately had much of that first batch of inventory years later.
Before you buy inventory you must know who your customers are and what they prefer. How do you find out? Just ask your target market. Now before I attend trade shows I ask my clients to suggest the types of items they want me to look for.
If you don't do your research, you may end up with a case of beautiful crystal glasses, for example, when most of your customers order junk food baskets.
I know what some of you are thinking. Yes, you may eventually use those glasses in a design, but in the meantime, that's money sitting on the shelf that could be used for something else.
2. If you don't have customers yet, decide on your target market and call a select number of them. Do your research. Tell them you're about to attend a trade show and want to know what kinds of gifts professionals in their industry typically like.
Now when you attend the show you'll have a better idea of what to order. Instead of buying, however, collect catalogs or ask sales reps to mail them to you. That way you can order later when you receive the actual gift basket requests.
3. Buy a limited amount of inventory until your clientele builds up. Use a combination of retail and wholesale purchases when you only need one item each (rather than a case) to make a sample basket to show a prospective client.
Use local sources to save money, time and energy. Learn how to find sources near you.
4. Only order or buy what you need, especially perishable gourmet food. Don't be swayed by specials or free shipping or you may have to eat leftover inventory, literally.
Wholesalers typically require a minimum order, such as a case or a dollar amount. For this reason, in spite of your best efforts, you may be left with some unused gourmet food. Use these as soon as possible, or give away as samples rather than have them go bad.
Find out what types of baskets men want to receive.
About the Author
Flora Morris Brown, Ph.D. is a Professor Emeritus at Fullerton College, educational consultant, gift basket expert, writer and professional motivational speaker. From her websites, blogs and newsletters she motivates small business owners and gift retailers with sales-generating ideas, marketing tips, design ideas and business success strategies. She is mother of four and grandmother of three. When she's not traveling she enjoys her home in Anaheim, CA.
