Self-gifting is one of the hottest trends of this holiday shopping season. An estimated 60% of shoppers plan to buy something for themselves. Self-gifting is strongest in the Millennial segment but it is gaining popularity across all demographics. It is not too late to boost self-gifting sales for this holiday season.
Self-gifting is often practical
When choosing gifts for others, people often to look for special things the recipient might not buy for themselves. Self-gifters tend to buy more practical items; things they need rather than things they want. This is fine for general retail but in a jewellery store, we want to encourage a slight touch of self-gratification. We want them to treat themselves to something special. But if practicality is what they desire, a nice jewellery box or a jewellery cleaning kit will fit their needs.
Give them permission
Millennials, raised and schooled with an emphasis on self-esteem, have no problem indulging themselves. They even consider being a bit selfish as a virtue. Baby boomers are more hesitant about doing things for their own gratification. They need permission to treat themselves to a gift. Remind these customers that they are just as important as the ones they are buying for and it is OK to be self-indulgent. They deserve it.
Self-gifters want bargains
For the last few years, holiday shopping is becoming more about deep discounts and door-busting prices. Rather than just dropping your prices, try discounts for add-ons. BOGO- Buy One Get One- deals are hard to pass up. Run a promotion on select items; if they buy one of those items the second one is a gift to themselves at half off…or even free if your margins allow.
Free with purchase
Offer free gifts with a minimum purchase. You can have an assortment of gifts of increasing value to match higher spending. This can encourage your customer to spend more than planned to get that special free gift.
Displays can send the message
Signage and displays are your silent salesmen. A few small gift-wrapped boxes or fancy gift bags with a card in a showcase saying “A present for me” are subtle hints to self-gift. Use hand printed sings as reminders. Simple phrases like “One for them, one for me” “Gift yourself” will encourage self-gifting. A little humour goes a long way: “Tired of getting things you don’t want? Get something for yourself this year. You know you’ll love it!”
Ask yourself one last question
The self-gifting trend is a great way to boost business and profits. A little effort from you and you sales staff in these final days of the holiday shopping spree can reap great rewards. But don’t forget to ask one more important question: what are you giving yourself this year? After all…you deserve something too!