According to market research firms, souvenir business ideas will lead you to success.
The reports suggest that the worldwide gifts/souvenirs market will grow by $13.04 Bn from 2021 to 2026. That is an impressive CAGR of 3.4%.
So, until now if you have been on the fence about starting a handmade business. Then, picking up the niche of novelty gifts and souvenirs is worth a try.
- Why Souvenir Business Ideas Matter
- How To Open A Gift Shop
- Top Selling Gift Items Worldwide
- 1. Fridge Magnets
- 2. Wall Art
- 3. Stationery
- 4. Mugs
- 5. Trays, trivets, and coasters
- 6. Furnishings and Linens
- 7. Keychains
- 8. Wine stoppers
- 9. Apparel/accessories
- 10. Wallets, Bags, and Passport Holders
- 11. Chocolates and Candies
- 12. Personalized Souvenirs
- 13. Candles
- 14. Soaps
- 15. Mats
- 16. Trending viral products
- 17. Local cultural sentiments
Why Souvenir Business Ideas Matter
Memories lead to connecting and collecting items that become souvenirs. Tangible collectibles, keepsakes, or tokens fall under the board category of souvenirs. Their purpose is to refresh memories and reminisce about the good times spent.
In popular culture, the travel industry has brought a huge boost to the market of souvenirs. So, as the travel industry grows, so does the market for unique curios depicting the culture of a place grows too.
Moreover, the charm of souvenirs is not bound to physical geography or location. Collectible tokens can be of an event as well. So, consider music shows, roadshows, charity events, and marathons on the list.
So, if there is an iota of nostalgia attached, consider starting a souvenir gifts business.
How To Open A Gift Shop
If it is the brick-and-mortar route, the answer is simple. Pick up a space where you can stock and display your products. But anyone who has done business knows it is much more than that.
Your store should be in a prominent space where you expect an influx of customers. Since the purpose of a souvenir shop is to facilitate remembering past events. Therefore, the display of souvenirs, relics, and mementos should happen on busy streets. A gift/ souvenir shop could also pop up around a popular tourist monument.
In an ideal scenario, busy tourist spots are perfect for souvenir business ideas.
Real estate prices are high all over the globe. Thus, owning even a small kiosk in a prominent place would charge a high premium. Opening an online store could be the next viable option to deal with that situation.
Top Selling Gift Items Worldwide
1. Fridge Magnets
These are the most popular form of souvenir business ideas across the world. They are easy to create, plus, they are fast selling. You can create these or outsource the bulk production. A successful souvenir-selling business started with fridge magnets as its only product.
2. Wall Art
There are numerous art forms that can come under this term. They could be handmade paper-based wall hangings like quilled art or digital art. Art depicting local traditions and culture would make the souvenir business ideas relatable. Thus, increasing the sale value of the product.
These also form a broad category of products. Stationery items are helpful and generic. Hence, they offer scope to sell premium upsell products as well. For instance, you can make a stationery kit of notebooks, journals, and pens to sell a product curation. The list of items under stationery could be –
- Coloring books
- Art Prints
- Post Cards
- Greeting Cards
Mugs, glasses, and tumblers offer an opportunity to showcase your sojourns. They have a practical application. So, they make one of the best souvenir business ideas as well.
5. Trays, trivets, and coasters
These would go complimentary to mugs and glasses. I end up buying these during travels since they serve multiple purposes. Apart from serving food, they also hold good as jewelry and trinket catch-alls.
6. Furnishings and Linens
Turning your rooms into memoirs of vacation travels makes a wonderful idea. Hence, cushions, bed sheets, throws, and curtains could be top-selling gift shop items. You can screen print handmade designs. Or you can even hand paint or do digital prints.
Without a doubt, this is the most popular souvenir item all over the world. It would be rare to not find a keychain at a popular tourist spot.
They are inexpensive. That is why you can increase their value by adding local motifs to them.
Also, adding a bottle opener function to a keychain enhances its utility.
8. Wine stoppers
They are a popular gifting accessory when you are unsure about what to gift someone. As the name suggests, they serve the purpose of preserving the wines after the removal of the cork. Hence, they can be a befitting addition to a souvenir gift shop.
Apparel and accessories find daily use. So, customizing them as per the respective tourist attractions makes sense.
Therefore, it is common to find T-shirts, caps, hats, and slippers as souvenir business ideas. There are tons of crazy artistic ideas you can try with them to make unique fast selling products.
10. Wallets, Bags, and Passport Holders
Although they can fit in as accessories. Since wallets, bags, and passports are a necessity for travel. Thus, they deserve a separate category.
There are different bags for travel ranging from backpacks to duffles and rucksacks. Likewise, wallets and passport holders have different classifications.
As a souvenir gift shop owner, you can add such travel essentials to your product range.
11. Chocolates and Candies
Who does not like to munch on some sweet snacks? They are popular as thoughtful gifts as well.
That is why they are my go-to products to give back to my dear ones after travels.
You can research some native flavors to create unique chocolates and candies. That will give the travel gift shop a distinctive flair.
12. Personalized Souvenirs
Personalized and customized gifts have a separate fan following. Moreover, they are great as an upsell since they have an emotional connection.
A few ideas to personalize souvenirs are embossing names, dates, and even pictures.
Personalization does take some time and effort. But it is worth the revenue it brings. The best part is that each gift item can have personalization.
Candles bring in light and positivity with their appearance and aroma. Hence, a definite must-have in a curio gift shop. You can make melt and pour handmade candles. Also, you can get them from a creative solopreneur creating and selling from their home.
Much like candles, there is tremendous scope in making artisan soaps. You can utilize the trend and offer native aromas from local ingredients. That will make your soaps unique to your geography of operation. From there, you can even expand to a wide range of toiletries.
Mats and rugs have utility along with the aesthetic value. Thus, they serve as beautiful souvenir business ideas.
Persian and Kashmiri rugs/mats are popular as gifts worth buying.
16. Trending viral products
Viral trends contribute to the influx of sales in huge numbers. If you catch them early. Then, you can improve your bottom line. Some past viral products are fidget spinners, unicorn-themed products, and slime.
17. Local cultural sentiments
It goes without a mention that products that embody local sentiments fascinate travelers. Therefore, every gift shop item must convey the feelings of the local culture. You can add local flair to almost every product in the souvenir gift shop.
Travels and vacations are at an all-time high owing to revenge tourism. Since the lifting of the lockdown, people all over the globe have started traveling wide and far.
It brings in an opportunity to offer gifts and tokens pertaining to local places. That is why opening a gift shop selling souvenirs seems a great idea.
There are opportunities for handmade products that offer a glimpse of local culture. A local stand-alone store is the best option. Though, you can also provide an online extension to the physical store.
A high-quality inkjet printer would help to print handmade designs and figures. Else, you can outsource the job to reduce the cost of starting a gift shop.
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