Creative collaboration

One of the best ways to increase your bottom line is to get creative when enhancing the experience of your gift shop. Sometimes that creativity involves collaborating with competitors in the area.

The goal in this kind of collaboration is to create an enjoyable and engaging shopping environment that is both rewarding for your customers and profitable for your business.

Try some gift trails

Work with other nearby gift shops to offer a collaborative gift trail or shopping map that encourages visitors to explore multiple stores. Gift shops involved can offer incentives such as discounts or free small gifts for customers who visit a certain number of participating stores.

Cross-promotion

Cross-promotion is a great way to boost your store’s bottom line, both in store and online. Try featuring products from other retailers in your store through small, dedicated display areas.

"By working together, shops can create a more engaging and enjoyable shopping environment."

Host themed events

Partner with local gift shops to host seasonal shopping events, such as a “Summer Seaside Stroll” or “Holiday Harbor Market” night. To make the event even more memorable, provide entertainment, refreshments or live demonstrations.

Shared customer perks

When you partner with other gift shops, you can also create a universal customer loyalty program where rewards can be redeemed across all participating stores. One idea is to provide a “first-time visitor discount” or VIP program for multiple gift shops. Also try offering bundled gift cards that can be used at participating shops.

Tom Borg is a retail consultant, speaker and author of “True Small Business Brilliance.” Contact him at:
734-404-5909, tom@tomborg.com, www.tomborgconsulting.com