Jan 28, 2009

Gift Baskets Still a Multi-Billion Dollar Industry

Paterson, New Jersey — In 2008, the U.S. gift basket industry reached $3.3 billion in sales, according to a new study conducted by Sweet Survival, gift basket industry consultants.

“This valuation confirms the industry’s perseverance as retailers continue to satisfy a steady customer base,” says Shirley George Frazier, company president, industry expert, and the report’s chief architect. “Still, the numbers are conservative, not incorporating gift basket sales by major retailers and wholesale clubs that don’t release this data,” adds Frazier.

Gift Basket Industry Statistics 2001, a comprehensive report released in 2002, estimated industry sales at $3 billion, which included a large portion of unaccountable industry participants. “The updated report includes data compiled from licensed gift basket retailers rather than from those working at home without credentials,” explains Frazier. “It’s impossible to track part-timers and those who have not registered as a business, groups that cannot be relied on for valid statistics.”

Gift baskets maintain high ranking within the overall gift industry, comprised of more than 3,600 retailers throughout the U.S. that categorize their businesses solely as gift basket firms.

Facts uncovered in this report include:
*California maintains the highest concentration of gift basket retailers, followed by New York and Florida.
*Southern states collectively lead all sales, followed by the northeast, west, and Midwest, respectively.
*A majority of firms calculate sales volume at $500,000 or less, with firms at $1 million and $5 million in sales increasing in quantity since the 2002 report.

In business since 1990, Sweet Survival compiles in-depth reports and resource materials about the gift basket industry. Frazier is author of How to Start a Home-Based Gift Basket Business, The Gift Basket Design Book, and Marketing Strategies for the Home-Based Business: Solutions You Can Use Today. She speaks at numerous trade and business conferences; is quoted in trade and consumer magazines; operates www.GiftBasketBusiness.com and its family of affiliate websites; and consults with Macy’s, Barnes & Noble, Total Wine, and independent gift industry retailers.