This is another in our series of practice advice for small business retailers.
How to make the most of the teacher gift opportunity.
Gifts for teachers can be lucrative not only at the end of the year but also through the year by establishing your business as a destination for gifts for teachers. As with much in retail, it takes a commitment of time, space and capital.
While you can make money sourcing a teacher pack from a supplier, you will make more by taking a broader approach.
Our advice is that you offer a selection of gifts for teachers including the traditional plaques, mugs, apple-themed, frames and pens but this you expand the offer to include other suggested gifts such as scarves, Charlie Bears, soap, fudge, plush, jigsaw puzzles and other premium gifts.
Don’t be restricted by the traditional teacher gifts. Also, don’t be restricted by a price point. We suggest you show how two or more students could pool funds to buy a bigger gift such as a jigsaw puzzle. Show your customers how they can do this. For example: $19.99 or $10 each if two of you share giving this gift. Maybe even consider a whole of class gift.
Promote the broader range of gifts with an appropriate sign such as: GIVE SOMETHING THAT WILL ACTUALLY BE USED.
Have your suggested gifts represented together in a location branded as gifts for teachers.
Be sure to include cards in your range – Thank You cards and blank cards. Consider packaging selected gifts and cards together to make buying easy.
Also consider a discount if customers purchase above a threshold for multiple teachers. For example, you could offer 10% off for purchases of $25.00 or more. Choose a spend hurdle that suits your area.
Marketing and promotion tips:
- Offer a $50 shopping voucher for one lucky teacher. To get an enter customers should purchase a card and gift from you.
- Include a flyer with all purchases announcing your teacher gift range.
- Leverage the local parents association to have them help you promote the offer. Consider having them hand out a coupon offering 5% off for purchases a 5% to them for each coupon redeemed.
- Setup a THANK YOU TEACHER WALL where anyone can write a note thanking their teacher – from any generation or year.
- Maybe run a Teacher of the Year competition where students vote. This could work well in a smaller location. However be careful as it could be seen as divisive if not done well.