Skip to main content

Posts

Showing posts from April 26, 2014

Gift Shops: How to stock to meet customer purchasing patterns

If you currently operate a store or website that sells wedding gifts, you’ve probably noticed a pattern in the gift selection your customers make.

If you’re thinking of opening a retail store or site and considering offering gifts, there is a pattern in the purchases people make of which you should be aware.

According to research published in 2013 in the International Journal of Electronic Marketing and Retailing, how you select stock price points effects your overall success.  If you think, "I'll offer both expensive and inexpensive gifts," you're on the right track, but you should consider how people purchasing off of gift registries behave.  It's a little more complex than just expensive and cheap.

According to a statistical analysis of the gift "fulfillments" at 500 online wedding gift registries, “wedding guests are caught between a rock and a hard place when it comes to buying an appropriate gift for the happy couple.”

The rock is the desire of s…