Archive for July, 2007
I read an article today in Gourmet Retailer that suggests that although consumer spending was strong during the first half of 2007, it may start to lag. Consumer debt, high gas prices, rising costs for food and other staples have resulted in a shift in consumer attitudes about buying.
Predictions are that consumers will continue to shop. But, they have been trained to wait for sales! “Consumers are bunching their shopping around times of big clearance sales, hurting retailers’ profit margins and making the underlying sales trends unclear.” Full Story
Given these circumstances, it may be a good time to start thinking creatively about how you might entice customers to shop early for the holidays. Offering early bird discounts is one technique I’ve seen many companies use. But this too, cuts into profit margins. So the question becomes: how can you offer a sale, but still control your profits?
This is a time when your skill and creativity in buying and marketing may provide answers. Your vendors offer sales every month. Is there some way to use those sales to your advantage?
For example, at Apex Gift Foods this month, you can buy organza ribbon at just $1.99 per roll. During the holiday season, many of your customers buy ribbons from mass merchandisers for their own holiday gift wrapping. Why not give your customers a free roll of ribbon with every holiday gift basket they order before October 1st? They might pay $5 per roll for this at the mass merchandiser, but they get if from you for free! (And it only costs you $1.99.) In contrast, giving a 10% discount on a $50 basket at the end of the holiday season costs you $5.
Take this a little further. You could also give a class in bow making! Schedule this class at the beginning of October before it gets too busy. This would bring customers into your shop and possibly facilitate more sales!
Sometimes, we have to make our profits when we buy for our companies, not sell. Look for sales that make sense for your business. Don’t just buy merchandise because it’s on sale. Decide first how you can fit that merchandise into your inventory and your marketing program.
July 26th, 2007
Want to know how to make your promotions soar? Check out this article in SpecialtyFood.com. Author Ari Weinzweig suggests 12 techniques that you can apply to your business.
Here’s one of my favorite ideas. But, please ready the full story to learn the most about how to implement a great promotion.
Get Wild! Weinzweig suggests that you come up with a zany idea for your promotion. “Do something that’s fun and out of the ordinary.” This will help to make your business stand out from your competition. If customers have fun when they shop at your store, they’ll be sure to tell others.
Along these same lines, give your promotion a name. You can refer to this name in all your advertising. Your employees can use this name to remind the customers about the promotion. And hopefully, your customers will use the name to tell their friends!
Getting your employees involved and excited about your promotions will go a long way to creating customer support for your business. And don’t forget to have fun!
July 21st, 2007
Need to know more about kosher products for your gift baskets? Check out this webinar to be held on Wednesday, August 1st: Kosher Certification 101.
Among other things, you’ll learn:
- What is Kosher?
- What makes one item Kosher and another not Kosher?
- What is the difference between various Kosher certifications?
Another resource for information about Kosher products is the Kosher Food web site. On this site, you’ll also find links to many more sites with more information about traditions and customs associated with the kosher food products.
Finally, you may want to check out Kosher Fest, a trade show devoted to Kosher Food products. This year’s show will be held November 11-12 in New York City.
July 18th, 2007
An article in Specialty Food Magazine, July, 2007, notes that the Hispanic population is the fastest growing market segment in the U.S. The growth is so phenomenal that Nielsen, the well know market research company, has initiated “a new system to track purchases made by Hispanic households. The report, which will be available in Spring, 2008, will give manufacturers detailed insight into the needs, preferences and shopping habits of this growing consumer group”.
Last April, in this blog, I posted an article about this and suggested that gift basket business owners start to think about how they might also tap into this growing market segment. But before we act, it is critical to understand the people that make up this group.
Start to do some research! Here’s an article I find that explains more about the Hispanic market segment and another that talks about how to target marketing efforts to this group.
In today’s business environment, we need to be constantly on the lookout for new opportunities. The world is changing and we need to keep aware of how the marketplace is also evolving. But before we act, let’s be sure to do our homework so that our efforts are worthwhile!
July 16th, 2007
As a business owner, I am especially interested in learning how to increase customer loyalty. Lately, I’ve seen numerous articles in all types of business publications about what customers want and what prompts them to keep coming back.
In a recent issue of B to B, an online magazine for marketing professionals, I read an article about customer loyalty. (See the full article for details about the research conducted by Brand Keys, a customer loyalty consulting firm.) According to their findings, customers are loyal to those businesses where they have positive shopping experiences and they value positive interactions with employees even more than the specific products that the company carries.
All types of companies, including very large businesses, are paying attention to this information. For example, Wachovia Bank, in an attempt to insure positive customer experiences with it’s written correspondence now sends out every letter signed by a real person with their contact information. No more going through voice mail or telephone menus!
Think about what you can do to give your customers a real “personal” and positive experience when they do business with you. Here’s a simple idea: take the time to write “Thanks for Your Business” at the bottom of customer receipts. Small gestures such as this may go a long way to keep customers coming back.
July 10th, 2007
According to an article in The Cincinnati Post, “America’s snack food makers are marketing smaller portion packs, using healthier fats and reducing sugar in some of the nation’s favorite potato chips and cookies”. Full Story
Check out Apex Gift Foods to see our great selection of single serve cookies. These items are conveniently listed in their own section so you can easily find them on the web site.
I’ve been remodeling the Apex Gift Foods web site to make it more user friendly. In the next month, I’ll be adding over 100 new products. Any suggestions about how I can make the web site even easier to use would be greatly appreciated!
July 5th, 2007
Just read an article in the op-ed column of the New York Times about a issue that could affect all chocolate lovers. Here’s a bit of backround.
“Real chocolate is made from crushed cacao beans, which provide not only solid cocoa mass but also cocoa butter that is vital to texture because, quite literally, it melts in your mouth.” Well, certain chocolate makers have petitioned the Federal Drug Administration to allow them to use less expensive fats (instead of cocoa butter), but still call the product “chocolate”. In this way, they can save some money!
In your gift basket business, it’s important for you to consider price AND quality when choosing the products you include in your baskets. Over the summer months, I’ll be adding more than 100 new products to our great line at Apex Gift Foods. Check back later this summer to see the fine selection of chocolates we’ll be including in our line. Several new items from popular manufacturers, Ghirardelli, Lindt, and Asher will be added in addition to some delicious, new chocolate novelty items. Keep watching to see the newest products at Apex!
July 2nd, 2007
