Biz Idea #46 – Crowdsourcing Gift Selection

by Byron on March 7, 2012

The Problem:

Gifts are often difficult to buy.  Some people, in fact, are nearly impossible to buy for.  Picking out excellent gifts can be very time consuming.

The Business

Crowdsource gift purchasing, offering bounties to those who find the perfect gifts.

Some gift buyers do not offer financial reward for the right gift, some do.  For free, the gift buyer has to deal with unfiltered results.  For a small bounty, the gift buyer gets only viable gift options, possibly hand edited

Gift pickers first acquire points for successful gift recommendations.  If you acquire enough points, you can suggest gifts for gift buyers willing to pay the bounty.

The company can derive revenue through a small fee on the bounties, maybe affiliate marketing, maybe ads, etc.  You could also have an increased fee for last minute.

Doableness

As with the vast majority of websites and web concepts … great engineering and great marketing are the name of the game.

The gift pickers will attract themselves.  An endless stream of suggestions to give and points and dollars to acquire will bring plenty of restless youth.  Some of these restless youths will be excellent personal gift shoppers.

The gift buyers are a little more difficult to find.  Ideally, you could partner with merchants (a little shop called Amazon comes to mind).  But bringing those who will pay to have a gift selected is the tricky part of this business.

My Thoughts

Crowdsourcing time consuming activities is an excellent business.  It can apply to many different things.  This is one.

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