From Busy Execs to Luxe Gifting: Understanding the Curated Hamper Customer

Hello and welcome to the show. Yesterday we looked at a case study or we looked at a scenario for people who the business they're involved in is curated hampers and corporate gift giving in Lagos or Abuja or whatever part of the world anyway. But that's the business curated hampers and gift giving. Now we looked at business problems that these people might face because we're trying to see how if you come at this with a uniquely sales oriented and business development frame of mind to see how we can solve what these problems are and help.

I was able to convince you guys that the problems that they face are the same sort of problems that all of us face the manner the businesses that we are involved in. So we're better off for now, staying put where we are, trying to master the fundamentals. And then we can take this, we can take these, what's it called, transferable skills, into the next business that we're going to do. So we're going to be better off trying to stay put where we are rather than starting off as a wedding photographer and then moving to something else or starting off as a lawyer and then moving on to something else or as a medical doctor and then moving on to something else.

Please don't take this advice to mean that. I'm saying don't switch. Of course, you know, change is the only constant thing in life. I'm just saying that the same sort of problems that you're going to face, the problem of market competition, commoditization, how do you differentiate yourself? Supply chain issues, for those of you who deal with physical products, seasonal demand, customer acquisition problems, retention problems, marketing branding problems, operational efficiency, financial management, the same sort of thing that you're going to meet any anywhere else.

So if you start off as a medical doctor and then you give it a good go at solving these sorts of problems and then you master the fundamentals with sorting all these sorts of problems. Then when you leave your medical practice and you decide to set up your wedding photography studio, you're going to be a better wedding photographer because as a medical doctor you try to crack these problems. And I didn't just assume that if I leave medical practice and I

start a wedding photography, then life is going to be easy. So OK, so the first problem that we highlighted was yesterday was market competition or the problem of differentiation or this whole idea that the market is commoditized. Now, it's an easy guess that people in the curated hampers business are facing this problem because really everybody is facing this problem. If you sell mobile phones, your business is commoditized.

If you're a wedding photographer, it's commoditized because there are hundreds of, maybe thousands of people in your city who do the same thing. If you're a medical doctor, it's the same thing. Your business is also commoditized because there's a hospital, a private hospital, maybe even five or six in every single ward of a local governments where you are in Nigeria. So everyone can complain that the business is being commoditized.

So the solution is not to throw up your hands in despair and leave the business and look for another business. Because trust me, whatever business you run to would also be commoditized. Except maybe if you do one of these things called BBL. Is it BBL or BB? Something that's Brazilian Bud lift. So a cosmetic procedure. The popular in Nigeria where women try to get their, what's it called, you know the R glass figure back.

I understand that men also take the procedure as well because it helps to trim the belly fat. So well, at least in Nigeria anyway, it looks like that thing is on the come up. There are some social media, what are they called gurus or health influences or stuff like that. We talk about these sorts of things. But that business, yes, that one doesn't look like it's commoditized yet because it's not as if there's a huge market in Abuja and then a huge market in Lagos and then maybe another person you can run to in Kano to do that and then stuff like that.

But I can assure you eventually the rest of the market is going to catch wind that this is something lucrative. And before you know it, there's going to be somebody offering BBL services in the town near you. But until then, I guess you're looking for something where there's no commoditization, you know, start doing Brazilian budlets. So, yeah, market competition. Yeah, that's the first problem. So let's see how we can tackle that one first.

But before we do that, I did some snooping around online because like I told you guys yesterday, quite honestly, for me this is a business that I find to be frightening because I'm not into the whole gifting thing. I have no sense of style or sorry. One moment. OK, guys, sorry about that. I had to take AI, had to look in on the baby. He's not feeling well right now. I'm not sure if it's an allergic cold or something, but anyway,

he's down with something and as usual, I'm the first person who has caught it. So he's yeah, he's at home with me and he had to just make sure he was OK because it sounded like he was getting startled or something. Right now we were at market competition, yes. So I admitted that it's a business that I find. Well, it looks difficult to me. Anyway, I'm looking from the outside, so I figured I'd do some research just to try and get me comfortable with the industry before I start parceling out advice about how to best go about it if I was involved in this kind of industry.

So first of all, it looks like it's a market, global market. I find that really, really surprising because, you know, I see hampers at Christmas and I see hampers at what else, Easter. And I see corporate hampers once in a while. But I had no idea that there's money to be made in that business. It looks like the global industry is about $482.6 billion. By the way, these figures are unverified. This is just me snooping around.

So you want to do your own research, then try and verify these figures. And some people think that the industry is going to make as much as 570.5 billion in 2027, so those are the figures that I found. Remember, these figures are unverified and I am not a specialist in compiling market research. And then bloody blah. So caveat emptor, yeah, do your own research then. Then. It also looks like the hamper segment in itself is growing,

which I find surprising because I've been seeing hamper since I was a little toddler. OK, well, not a toddler. Let's say primary school, basically because my mum was in public. She was the BR manager for Hilton Hotel. Well, back then was Nikon Noga. That's what it used to be known as Nikon Noga back then. So she was the first PR manager. So I was used to seeing hampers, you know, flowing in and out of the office, a few hampers passing by the house.

And so I just assumed that hampers were actually old school technology. I assumed that hampers were dead or dying or going away. But it looks like it's a segment that actually is growing. And the reasons why, because of the convenience, because people are busy and there are people who want quality gift items. And so it looks like that's the reason why Hampers are still in existence. And I guess I can attest to that because last.

Yeah, I think it was Christmas. Yeah. Last Christmas we actually did receive a hamper, a corporate gift for my wife anyway. And there was some nice stuff in there, some fancy stuff and also some nice stuff. Then let's see what else. OK. There's convenience then. OK. There's the personalization factor because you can put together these hampers for unique occasions. I have seen not too many, let's say one or two weddings where you do that sort of thing, where the stuff in the hamper, you know, whether it's the milk or the glasses or the wine or the chocolates or the whatever, is personalized with the couple's faces.

So I guess it's something that can be done for funerals as well. For those of you who are Westerners listening to the podcast, I know you might sound that might sound scandalous to you guys, but in this part of the world it's it's not a big thing if somebody lives to be 1891 hundred and the person dies, yes it's tragic and yes the family will miss them. But for most families and for most cultures in this part of the world, it will be thought of as a celebration of life.

So I guess it wouldn't be a problem if, you know, grandpa dies at 110 and then people go all mad and then start giving hampers with wine and with wine and towels and chocolate and whatever. Of course if they're a high class family, if they're that kind of family. So things have been personalized and then we can offer a curated experience with these sorts of gifts. And so it looks like that's why the hamper segment is growing.

So for those of you who grew up with hampers passing in and out of the house and seeing it in your parents offices and you assume that it's old school for some reason it's not. It seems to have survived for the last 40-50 years and the current market estimates look as if the the business is still going to continue to grow. So I guess my former colleagues who are event planners who are now in the created Harpers and give space, I guess there's good reason why they have jump ship because it looks like something that is growing then the target professionals seem to be busy professionals and that's why the corporate gifting solutions are are out there.

Like I said, we've been the benefit of those sorts of things. Mum, she received some of that stuff when we were little and my wife has received a couple one last Christmas. So for insurance, insurance, what's it called? Insurance, finance houses, banks, what else? You know those sorts of things, people who are thinking about customer retention, yes, that's the word. People are thinking about customer retention and things like that.

So I guess you know these are these sorts of solutions that they need or that they think that they need to try and keep people coming back to them and doing more business with them. So getting corporate hampers sent out to organizations or specific individuals, maybe even high net worth individuals that you're trying to cut. So yeah, so there's a market for it. That's the target audience. And then, OK, then of course,

unique, personalized gifts. Like I said back in the wedding space, full out hamper, I only saw it, you know, one or two times. But then for weddings, there's the unique personalized gifts. So you have the hats with the bird and groom's name on it, or the fancy glasses engraved with the mammogram of the couple. Then let's see what else bottles of water and wine are personalized with the with the couples and faces. Or did I say mammogram?

And that's the wrong word. I think mammogram is a scan for breast cancer. But I mean the the thing where you take someone's logo or two people's logo or two letters or two initials or somebody's name and then you slam it together to make one beautiful emblem or logo or whatever. So that is what I'm trying to describe. So it's not a mammogram. It's well, hopefully I remember before the end of the show. So yeah, those sorts of things are done as weddings now.

The thing that I found really, really interesting was when I started looking at the kind of business models that operate here. And of course, like I've mentioned, there's the event specific thing, which is what I was used to back in my wedding photography days. Because you see it all around. People are handing out souvenirs, towels, wine, mugs, caps, umbrellas. Let's see what else I heard about the wedding where they were given on iPads, I heard,

but I was not there. I wish I was there, could have grabbed one or two myself. Let's see what else. OK. And then the white labeling, that aspect of the business there. But the thing that surprised me when it came to business models were actually some of these people who run its subscription based. Now I've not been able to find any Nigerian businesses who do this with the subscription based model. That is where people sign up,

There's a monthly fee, a yearly fee, a whatever, X fee, and people receive these gifts, these hampers, these party favours or whatever on a periodic basis and is curated based on their preferences. So I'm surprised to find that out because I just, it didn't never occurred to me that people would pay for such a thing. So it's interesting the level of ingenuity that comes up in business. Then I also tried to do some research around the trends in the industry and it looks like people are beginning to combine experiences with the hampers.

And yeah, that that makes sense because we already see that in Nigeria back while I was still actively shooting weddings. So there will be these personalized gifts or hampers or whatever, but then they will be given out during cooking classes or maybe wine tasting or the what do you call this thing the bridal? Is it the hen hen night or the hen stag or the hen something? You know that that party that you guys brides, you throw two or three days to the wedding.

So there's combining all these things with experiences. So that's a trend that seems to be growing. OK. Also, what's it called team? Is it team bonding office, office, team bonding, team building, You know, those sorts of things. You guys go out, you know you eat, you do this, you do that, you receive a small seminar at pep pep talk and then you guys receive the the hampers or the gifts afterwards. Then there was also trends in technology AI, not surprising where there are already AI

powered recommendations. That's for people who offer subscription services or who have online gifting platforms. Then AI can also come into the mix. Saying that, if you liked this and this, then perhaps you should try this as a corporate gift. Or you know, for people who are of this or this or this profile, you should try this as a corporate gift. Then social media marketing is also a trend in the business. Makes sense because like I said when I was checking out my friend, I found a whole bunch of them on Instagram.

So that only makes sense. So let's see. OK, more research that I did. OK. I tried to find key players in the business and they're established retailers. Which also makes sense because back when I was in Lagos there were department of stores that already had pre made souvenirs and gifts. They also exist in Abuja like fax stores here in in APU with the hampers. During Christmas there's celebrations. Celebrations is in Lagos, in Lagos and in Abuja with the pre made hampers as well, spa stores also Lagos and Abuja with the hampers.

Which other stores? Well and you catch my drift you know Easter, Christmas you see these things flying around. So retailers yeah those are some of the players in the market then let's see what else. OK then they're also speciality people who create. Sorry, curate specialty food stores, yes. Who curate hampers, I guess then the enjoying equivalent will be like in Abuja. There's the farmers market in Maitama. I'm not sure if something similar exists in Lagos or in the East.

So in the farmers market around festive periods, OK, the next one is going to be OK Easter. OK, let. OK. To be conservative, let me say, let me say Salah or the Idil Maloud. I think that will be the next one where if you go to farmers market, you see all those baskets all over the place because people have put together oranges, poppers, mangoes, you know and all that stuff. So that would be the Nigeria equivalent or the Abuja equivalent of speciality food stores.

Then of course, there are also online retailers who have a specific niche. I've seen hampers that are baby related because back when Wifey and I were still popping our babies, you would see stuff like that. You know, a hamper that is put together with diapers and with talcum powder with what else? Nipple cream. That's a soothe during breastfeeding. What else? You know, I'm sure you guys get the gist, those kinds of things.

So, but those ones are niche specific. You know, like for babies, one of OK, I've seen organic. Yeah, organic. So you can receive something from maybe like something that has a what's this company called? Is it forever living? There's a company that makes stuff only out of there's something that's supposed to be healthy and organic and rejuvenating. I can't remember the name, but I'm sure you guys have seen some of them before.

You know this happen. Maybe it's full of forever living products. So stuff you can eat, stuff you can rub on your body, stuff for the hair, stuff for the face, stuff for your beard, stuff for your lips, stuff for your feet. You get the drift? Then let's see. Well, OK. Subscription box companies. Yeah, I spoke about that. I haven't found any Nigerian companies who do that. So if any of you are involved in that sort of business, please hit me up.

I'll give my details at the end of the show. Yeah, it would be nice to have a chat with you guys so that we can share your business experience. And then also let the good folks listen to this podcast, know what kind of opportunities are out there. Then of course, online platforms that connect customers with artisans, I couldn't find any. But I'm thinking, I mean, does Etsy operate in like, OK, well, Etsy's the website, so I guess it should be available to Nigerians.

But and if you're part of that community, then please reach out, let me know. It'll be nice to chat with you and get a better sense of what it is that is out there. Then of course, we've also mentioned corporate gifting services and how event organizers also use branded gifts and promo packages and then stuff like that. So I will bring that to a close here. That's pretty much an introduction. Just so that you guys have a better idea of the space.

Because if you're like me and you thought hampers, that was 30 years ago, 40 years ago, who gives hampers? It's on the decline. Whatever it looks like, it's not looks like it's a business that has been growing and growing and growing and will continue to grow. So if you're like me and you didn't have the creativity to see how this is a viable business and what the opportunities are, what the opportunities were, then hopefully the little research that I've done should open up your eyes and see that this space is alive and thriving.

So with two introductory episodes out of the way, I think tomorrow we can now go into the nitty gritty of trying to figure out how do you differentiate yourself if you are in this space, in the corporate gifting space, in the hampers space, white labeling space, the whole thing. Now remember, we are using people who make hampers and people who do corporate gifting as a case study. The goal is not to show these people only how to improve their businesses.

But the goal is that as we freestyle with ideas, we'll be able to find something that applies to our own unique circumstance, whether it's photography or dental practice, or selling Catfish or creating a Kilishi and packaging and selling your Kilishi in stores. So the hope is that in tossing around these ideas, we're going to come up with principles, frameworks, and practices that apply universally across all businesses.

So if you are not involved in this business, do not, do not avoid the next couple of episodes because you think it doesn't apply to you. You definitely will find something that does. OK, that was the alarm, 15 minutes. OK, so let me bring it to a close. So that's pretty much for today. Please connect with me on WhatsApp. The number is 08064662140. Again 08064662140. The country code is +234. If you're reaching me from outside the shores of Nigeria,

then also connect with me on LinkedIn. Let's have a chat. My name is Tavishima Ayede. I'm the host of the show. You can confirm the correct spelling of my name and my e-mail address from the link. We are currently listening to this episode. Thanks for your time and attention. I'll catch you guys at the next episode.