Creating Holiday Gift Boxes from excess inventory is a great way to earn some extra revenue and clear out some excess inventory that has been taking up valuable shelf space and cash in your business.
Here are my 5 tips to turn excess inventory into extra sales this holiday season.
1. Repackage It
You can't just slap a gift tag on it and call it a "gift," but you can take some Inexpensive supplies and turn it into a gift!
I use extra boxes I have laying around from my subscription boxes. I use several different sizes throughout the year so I always have some in different sizes.
I also use Tulle, twine, tissue paper, and gift tags to re-package my items. If you don't have these on hand, you can grab some colored boxes and supplies from Amazon or Papermart really easily.
2. Make it Giftable
Pairing items together into gift sets is super easy. You are helping your customer curate a special gift, without all the stress! It can be as simple as wrapping 2-3 items together with Tulle and adding a gift tag. This creates a higher perceived value as well and don't be afraid to charge a little extra for your hard work.
Another great way to make things giftable is by adding some small items to the product in your store. In this example, I purchased a big package of Starbucks Hot Cocoa and added packets inside the mug in my store. These cost 67 cents and add a lot of value to this mug. I've turned a $14 mug into a $25 gift box for a few bucks.
3. Add Variations
Even if you don't have multiples in the shop, adding different variations to the same item will allow people to choose a gift that's perfect for their loved ones. This will also help you get rid of all the one-sies laying around your shop!
In this example, I paired a sweatshirt I have lots of with different items to curate completely different gifts.
4. Multiple Price Points
Having holiday gift boxes at multiple price points will help you meet the customer's needs. Some may want a lower-priced gift for an office buddy, or a higher-priced gift for their spouse or loved one. Everyone will be different, and having lots of options help!
My best selling gift boxes are my lower dollar amounts and my higher dollar amounts...it's funny. The ones in the middle tend not to sell as well.
5. Sales Time Frame
The best time frame to sell Christmas Gift Boxes is mid-November through Christmas Eve. I like to get them on my website and in my retail store a full week before Black Friday. This helps bring awareness to your boxes and also gives people an option to purchase gifts from you before the big box stores go crazy with sales and promotions.
Remember this is the time to sell anything and everything you have "leftover" from the year. Don't wait until December is upon you to get started. You will get too busy and regret taking the time to liquidate a ton of inventory.
Here's another great example. I had leopard beach towels leftover from the summer. You would think I wouldn't be able to sell them for Christmas. All it took was repurposing them into a "bathroom" themed box, and I know I won't be sitting on this inventory through the winter.
Have fun with this and make tons of sales!