Here’s to a happy and exciting 2023!
Here at MyRegistry.com, the start of a new year always generates optimism and this year is no exception. We are excited by the opportunities out there for your gift registry to be an even more vital, integral part of your business.
What’s behind our optimism for this coming year?
Positive momentum carries forward from 2022. We saw the absolute level of gifting activity increase last year – and I mean total gift volume, not just the sales dollars. Total unique gifts added increased by +4-5% despite the fact that there were inflationary pressures, inventory and supply chain issues, and lingering pandemic disruptions. Customers proved resilient and resourceful. That’s a powerful foundation to build upon into 2023. After all, gifting activity engages multiple people –you have the opportunity to nurture future relationships (shopping or even a new round of registry and gifting activity) with the recipient/registrant as well as gift givers. Those gift purchasers may well be new prospects that extend your brand reach.
Another positive trend – Gift List popularity for all sorts of occasions continues to grow. Registry and gift list use for other occasions has become more established as well. Even before the pandemic hit and prompted people to rely on shareable, shopping gift lists to ensure they could acknowledge special occasions with family and friends even remotely, we were seeing growth in the use of all sorts of registry and gift lists. Customers increasingly appreciate the ability to avoid the hassle of returns, exchanges or the waste if products are just discarded; they embrace the technology and service of a registry that combine to make it easy to get just what they want, any time gifting takes place.
Two distinct sources of registry activity
Tie up loose ends. Let’s start with everyone who already has a gift registry or wish list. With the hectic holiday season now over, these customers are settling back into their normal routines. That gives you a perfect excuse to reconnect with them and share some great ideas to make that list of theirs still productive
- Registrants with past events: Chances are many of these registries still represent more registry activity for you. There may be unpurchased items sitting on them, and some special offer could entice them to shop and quickly add sales for you. And, then be sure to remind them that one benefit of a universal registry is that it can be updated and reused for upcoming events. That keeps the gifting going!
- Registrants with future events: Encourage these customers to review and update their lists after this past gifting season. Be there to offer tips and advice as they consider what they still want and need. Point out the fresh new merchandise flowing in; it’s the perfect excuse to add products and ensure there are still gift options for their family and friends at all price points. We’re talking about maximizing the value of every list!
Plan for the next round of events.
Here’s a peak at what’s ahead:
- Love is definitely in the air. We will see wedding events continue to crowd the calendar as couples still play catch-up post pandemic. In fact, the number of events is expected to again exceed averages prior to the pandemic. On top of that, we are in the midst of peak engagement season and that will prompt a wave of new registries and some immediate engagement gifting. So if your assortments are ideal for weddings, gear up. Highlight favorites that are must haves for any registry and then be prepared to assist shoppers as they look for engagement or wedding gifts.
- The stork will be busier than ever. The birth rate is also slowly climbing after a dip in 2020; for the coming handful of years, statisticians project slight increases. For those of you with merchandise suited to the younger crowd, it’s always baby season and the arrival of spring merchandise is just what expectant parents need to see. And, if not a newborn, how about that first birthday?
- Every day is a celebration somewhere for someone. Talking up your registry as the perfect gift list solution never has a day off. Whether it’s a birthday or anniversary, the day is special for some folks. (A fun fact: The number of birthdays is relatively consistent each month, though February does dip a bit…but, that’s because it has fewer days!) So, make it easy to celebrate in style.
- There’s all sorts of pomp and circumstance ahead later in spring. Graduations (both high school and college) span from May all the way into July. Current statistics project continued growth in students stepping into new life-stages and that means a time to celebrate and gift.
There’s movement underfoot as well. And, don’t forget, later in the spring, housewarming activity kicks in, and your registry can make gifting for those events hassle-free as well.
To keep track of all this, here’s a calendar for spring registry activity. Use it as a planning guide and personalize your registry messages to align with your customers’ lives.
Gifting in and of itself is an all year-round activity. You can see that there are lots of celebratory events in the coming months where you can support customer gift planning. So, be sure to position your brand as a convenient place for both the giftee and the gifter and stay top of mind as a ‘go-to destination for any gift shopping.
As you continue to move forward with your gift registry marketing plans, let us know how we can help! We can always be reached at email@example.com.