If you’re looking for a unique business to launch in 2023, look no further than a novelty shop. Thanks to the explosion of ecommerce, starting and growing a novelty store has never been easier or more accessible.
What is a novelty shop?
A novelty shop is a retail store that specializes in selling unique and often humorous products. These products can include items such as gag gifts, funny t-shirts, quirky kitchen gadgets, pop culture merchandise, backscratchers, hilarious books, prank toys, and more.
Novelty shops typically offer products that are not commonly found in other retail stores, and often appeal to customers who are looking for something different or unusual. Some novelty shops may also offer customization services or feature locally made products, further setting them apart from traditional retail stores.
Novelty shops have traditionally been located in physical brick and mortar stores in large cities and/or tourist destinations. However, you’ll now find many of these shops online. And in many cases, there are hybrid novelty stores with both online and offline presences.
Tips and pointers for success
The novelty shop business can be fun, exciting, and decidedly quirky. Success is never guaranteed, but it can absolutely be rewarding. Here are some ideas for where to start:
- Give your shop a name. Naming your shop is an important step when starting a novelty shop. A good name should be catchy, memorable, and easy to spell. It should also give potential customers an idea of what your shop is all about. Some ideas for a novelty shop name include puns, alliteration, and incorporating humor or pop culture references.
- Pick the right channels. Once you have a name, you need to decide which sales channels to use. Brick and mortar stores are a great option for those who want to create a physical space where customers can come and browse. Ecommerce is another option, which allows you to reach a wider audience through an online store. Multi-channel sales, where you sell products through both a physical store and an online store, can be the best of both worlds.
- Prioritize product selection. No matter which sales channels you choose, you need to select the right products to sell. A successful novelty shop should offer a variety of unique and humorous products that appeal to a wide range of customers. Some popular product categories include gag gifts, funny t-shirts, quirky kitchen gadgets, pop culture merchandise, hilarious books, and prank toys. Gifts like backscratchers also do really well, since they can be purchased very inexpensively at wholesale prices and resold for significantly more.
- Do your research. One way to find products is to attend trade shows and gift shows, which can give you the opportunity to meet suppliers and see new products. You can also browse online marketplaces like Etsy and Amazon to find unique and handmade products. Some suppliers specialize in novelty items, so be sure to research and connect with them as well.
- Network locally. Another way to find products is to collaborate with local artists and designers. They can create custom products that are unique to your shop and add a personal touch to your product offerings. Additionally, featuring local artists can help you connect with the community and build a loyal customer base.
- Prioritize customer experience. In addition to selecting the right products, it’s important to create a memorable shopping experience for your customers. This includes having a well-designed store layout, displaying products in an appealing way, and providing exceptional customer service. You can also offer free samples, host events, and create a loyalty program to incentivize customers to return to your shop.
- Invest in marketing. Marketing your novelty shop is also important to attract customers and increase sales. Social media is a powerful tool for promoting your shop and engaging with customers. You can use platforms like Instagram and Facebook to showcase new products, run promotions, and connect with your audience. Email marketing is another effective way to reach out to customers and keep them informed about sales and new products.
Grow your novelty shop
A novelty shop can be a very successful high-margin business. However, you can’t rest on your laurels or settle for average. You have to constantly focus on growth and improvement in order to satisfy the changing demands of your customers.
Prioritize each of the tips discussed in this article and growth will be the natural byproduct.