According to an article in Media Post Marketing Daily today, more consumers are giving homemade gifts this year. Click here to read the story.
Implications: I don’t think many retailers will be put out-of-business because consumers are spending less this year… but I think some retailers could profit more by using the attitude that, “if you can’t beat them, join them!”
At risk of spoiling a holiday surprise, here’s one example: Someone on my gift list will receive a leather-bound photo album with a few dozen of my favorite wildlife shots. I took the pictures, but a retailer printed and bound the product. Is this a homemade gift? Perhaps not (maybe it’s more hands-on than homemade). But I’m hoping it will be received as a personal, one-of-a-kind gift.
This holiday gift season, for the most part, is done. But for future occasions, how could your company let the consumer finish or personalize the gift they will give… even if that gift originates in your store? If you are a restaurant, could you let the consumer modify a special menu for an upcoming date night? (Note: Valentine’s Day is the only weeks away.) How could the family tree be brought into Mother’s Day or Father’s Day this year? Can your product or service become an even more attractive Wedding Anniversary option, if some aspect of the relationship were brought into it?
Less “stuff,” and more “personal touch.” I encourage you to think of that as a long-term trend, and figure out how to profit from it.