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A summary of the high-end and low-end two markets for craft gifts
High-end craft gifts encompass a wide range of exquisite items such as ancient glasswork, gold and silver handicrafts, jade, cloisonné, and large-scale root carvings. These pieces are not only complex in craftsmanship but also rare and difficult to find. Examples include ancient glass artifacts, precious metal and jade creations, or masterpieces from renowned artisans in fields like root carving, calligraphy, and painting. These items are primarily artistic, decorative, and expensive, making them ideal for collectors and connoisseurs. They are typically one-of-a-kind or limited in quantity, with a specific target audience. However, their market is narrow, often relying on the personal taste and appreciation of art enthusiasts. Despite the high profit margins, which can attract many businesses, the phrase “three years without opening, open for three years†often refers to these products due to their slow sales and long lead times.
On the other hand, low-end craft gifts consist of small ornaments, trinkets, and toys. These are commonly made from materials like resin, water glass, glass, imitation jade, and particle boards. They are inexpensive, mass-produced, and have a broad consumer base. Their production is usually done in large quantities, focusing more on volume than quality, as the profit margin is relatively low. This has led some manufacturers to abandon this market segment. However, due to their affordability and wide appeal, they remain popular among a large number of consumers.
Many cultural communication companies, distributors, and even large shopping malls often showcase one or two high-end handicrafts as their signature pieces to elevate their brand image. In contrast, smaller crafts are typically found in local markets, roadside stalls, and night bazaars, where they are less likely to be traced back to their origin.
High-end craft gifts require a long production cycle and face slow sales. It's common to see these items gathering dust on shelves, with few buyers showing genuine interest. Most people only look, but don’t buy, making the return on investment slow. As a result, these products demand substantial financial backing.
In contrast, low-end handicrafts have a short production cycle, quick turnover, and high purchase rates. As long as they are trendy and fun, even a few dollars can make them accessible to almost anyone. Their fast cash flow makes them ideal for small and medium-sized enterprises that need flexibility.
High-end craft gifts are product-driven, aiming to attract customers through unique design, artistic value, and craftsmanship. Marketing is mainly done through media channels, such as newspapers and magazines, using soft news-style content to build brand value. These items are usually sold directly by the creators, without going through dealers or agents.
Low-end craft gifts, on the other hand, are market-driven, following trends and consumer preferences. Promotion is often handled by distributors who reach out to local wholesalers and focus on bulk sales to capture the market and generate profit.
Whether choosing high-end or low-end craft gifts, companies must carefully consider their strengths, resources, and market positioning. Each product category requires a different strategy, model, and approach. Understanding the relationship between products and markets is crucial for developing effective business strategies and achieving long-term success.