Luxury marketer Edible Arrangements uses consumer insights strategy to grow their gifting business
The need to buy a gift is an important reason why people go shopping. That makes the gifting consumer market an important part of the retail economy. An estimated $1 out of every $10 spent in a GAFO store is made to buy a gift, according to a new Unity Marketing study of the gifting market, The Gifting Report 2010: The Ultimate Guide to the Consumer Gift-Giving Market.
While most marketers pay careful attention to the gifting opportunities of the year's major holidays, many overlook those gift-giving occasions like birthdays, anniversaries, baby showers and friendship/just because gifts that occur randomly year-round. "Marketers miss out on gift occasion sales because they haven't done the research to uncover gifting's hidden revenue potential," says Pam Danziger, president of Unity Marketing and lead researcher on the new gifting study.