There is an upsurge in demand for high-end recognition products in corporate America, and crystal and glass are widely viewed as our industry’s most prestigious awards. In fact, Cathy Garcia, marketing manager for Marco Awards Group, claims that corporate crystal is the fastest growing awards market, two to three times higher than other awards/gift products. So if you already sell to the corporate sector or if this is a market you would like to get involved with, high-end personalized crystal awards and gifts is the way to go.
A survey conducted in 2017 by WorldatWork reinforces corporate award programs as a key contribution to a business’ success because they encourage employees to work towards a common goal. In summary, appeased employees equate to satisfied customers, and satisfied customers correlate to business growth, sales and overall satisfaction.
Ever feel at a loss on getting gifts for everyone on your list, and disheartened by the idea of presenting your loved ones trivial presents like chocolates and bath bombs?
Personalized gifts tug at the heartstrings, and the custom “home décor” market provides products to curate that moment. Such as a wooden recipe box sublimated with grandma’s 100-year-old recipe, a personalized sign for a mantel or bar, or even an engraved pet tag for the beloved family dog.
Business wire claims the personalized gift industry grossed over $31.36 billion in revenue in 2017. Industry analysts forecast the Personalized Gifts market to grow at a CAGR or a compound annual growth rate of 9.52% during 2018-2023.
While it’s great to acquire new customers, the easiest way to increase your profit margin is by offering new products, like holiday gifts, to current patrons. Pre-existing clients are a great place to start. They know, and like you, so already, you have overcome several hurdles.
For the 2019 holiday season, awards and trophy shops have the opportunity to position themselves as a place to purchase gifts for the upcoming festivities. Often, adding personalized home décor to your inventory requires business owners to shift their mindset as well. Specifically, the trope that November and December are the slow months for awards & trophy businesses.
“Let customers know that you can also solve their gift-giving dilemmas,” urges Dan Messerschmidt, National Sales Manager for JDS Industries, Sioux Falls, SD. “With one stop into your store or website, they can get impressive, personalized gifts for the hard-to-shop-for people on their list.”
The digital revolution is shifting commerce as the trend toward online shopping continues to grow among consumers. Today, more and more customers are spending their shopping dollars through E-commerce avenues, and that includes those who are looking for personalized products. As a result, many businesses in the personalization industry have recognized the need to specialize their services in this direction—and many with great success.
Edi Bond, the owner of Memories for Life, located in Essex, IA, recognizes this need and has built her business online instead of following the traditional brick and mortar route. On her platforms, she markets her laser engraved items as timeless keepsakes for generations to come—whether that entails engraving great grandma’s cookie recipe onto a cutting board or an ornament to commemorate baby’s first holiday.
“Customer service is a huge part of the personalization business, and making connections with customers ensures them that their order is important,” affirms Edi. She
recalls each client and their order, right down to putting their name on the shipping label.
However, the most rewarding aspect about her job is the relationships she builds with each customer while working with them one-on-one.
Lifetime events such as births, weddings, anniversaries and memorials provide the perfect opportunity to give a personalized gift. Her products carry sentimental value given their tailored nature, and the customer relationships she builds secure repeat business for generations to come.
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