Originally published in the May 2015 print issue of Gifts & Decorative Accessories
Three-fifths of gift retailers report their 2014 sales were up by a median of 10 percent, compared with the prior year, according to the 2015 Gifts and Decorative Accessories Today's Gift Retailer Survey.
For the 19 percent that reported 2014 sales below 2013, they were down by a median of 5 percent. That's well below the 14 percent gift retailers were down the prior year, which is an encouraging sign.
Optimism abounds for the 64 percent of gift retailers projecting 2015 sales to be higher than last year. In 2013, 59 percent of gift specialists predicted the next year's sales would be higher. This year, those retailers expecting sales to be higher than last year are forecasting a median increase of 7 percent.
This year's exclusive survey results, collected during February and March, are based on the responses of 150 stores.
Nearly three-fifths of the responding retailers describe themselves as gift specialists, and 14 percent are classified as home accessories stores. Other retailers responding include online retailers, hospital gift shops, toy and hobby stores, museum gift shops, children’s specialty stores, stationery and card stores, bookstores, hardware and garden stores and day spas.
Eighty-six percent operate one location, while 14 percent operates two or more stores.
Annual sales for 2014 for 62 percent of responding stores were less than $500,000; 34 percent had sales between $500,000 and $1.9 million. And the remaining 4 percent of stores who responded had sales in excess of $2 million.
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