Many gift basket companies focus on reducing costs. The most successful companies focus on increasing perceived value.
Premium Products Create Premium Margins
A gourmet product doesn't need to be expensive to create a luxury experience.
Customers often pay significantly more for gift baskets featuring:
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Imported products
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Artisan foods
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Premium packaging
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Unique flavor combinations
Build Around Signature Products
Create baskets around standout items such as:
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Truffle almonds
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Imported crackers
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Specialty olive oils
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Artisan preserves
These products become the focal point of the gift.
Use Layered Pricing
Offer:
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Good
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Better
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Best
versions of your baskets to increase average order value.
Add Seasonal Exclusives
Limited-edition products create urgency and excitement.
Leverage Private Label
Private label products increase exclusivity while helping protect margins.
The goal isn't simply to sell more products. The goal is to create gift experiences customers can't easily compare against competitors.
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Hi, I'm Debbie Quintana, a seasoned gifting business professional, the founder of The Gift Basket Association, Jocelyn & Co. and the curator of The Gifting Business on SKOOL. Join the conversation here.