Colorful, shiny, and exciting gift wrappers add beauty and charm to the gesture of gift-giving. Sharing gifts and presents with your loved ones has been a practice established in our society for ages. And for centuries people have employed different methods to wrap their presents to make them look more appealing or to safe-keep them. For example, the people in India and the Philippines used banana leaves to wrap their presents, whereas the Japanese used expensive silk scarves to adorn and secure their gifts. Of course, starting up a gift-wrapping service entails a lot of different processes, but for starters, you have to take into consideration a few things before venturing out in the market.
The Demand for Gift Wrappers in Today’s World
Admit it or not, as a child, the sheer sight of colorful gift wrappers would pique our excitement more than the gifts themselves. They came in a variety of patterns and designs and turned the boring boxes bearing the present into something very artsy and appealing. But the increasing global awareness about the staggering paper waste has turned a lot of people away from gift wrappers to other more accessible alternatives like gift bags. Regardless, as per one estimate, the gift wrapping industry was sized at around $15.11 billion in 2018 and is expected to increase to $24.9 billion by 2025. And the sales of gift wrappers especially soar around the holiday season.
Planning Out Your Business:
Now that you have read the stats and done the research on your part, the next step is to plan out a business model. To run a successful gift wrapping service, you must first decide where to set up your business. Operating a gift wrapping business from home is not an ideal choice because it involves a huge trust factor. Once the customer drops his or her gift at your place, the liability tilts towards you, and you can end up unintentionally damaging their product, or worse of all, it could be something that’s illegal and not supposed to be gifted. Apart from the liability, the process of picking up and dropping the gift at your place can be burdensome for customers and can make your business less appealing. The best choice to run a gift wrapping business is from a shop based online or in a frequented place like shopping malls or airports.
Marketing Your Product:
Product differentiation in the gift wrapping industry matters a lot and can give you an edge in the market. What makes your gift wrapping service unique? You can become an online custom wrapping paper manufacturer offering timed delivery to your customers or come up with pre-wrapped boxes that don’t require them to handle their products to you in the first place. You have to keep in mind that people who do reach out to you for availing your gift wrapping service and just too lazy or unimaginative to wrap their gifts by themselves and have the money and resources to offer an online platform to do that job. Hence it’s imperative to provide them with the best customer service. You can also make recommendations or gift ideas for stuff they should send people or remind them about birthdays/anniversaries that they have not yet scheduled a gift for. For an online gift wrapping service,
Making use of B2B e-commerce can turn out to be fruitful, especially for a start-up. A small business or start-up can become a B2B provider for online businesses that ship products instead, and sites like Amazon do offer affiliate programs that help a lot of emerging bloggers and small businesses generate profits by integrating their business with their programs. For example, a gift-wrapping service can link the products on those sites and make shopping easier for its customers while making a profit through these sites.
