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"LoCo Gifts" is a concept for a business around 3D printed souvenirs. It is looking at the Latvian market, but really, it can be implemented anywhere around the world. Why? Well, because even in a niche-market, such as Riga, there are plenty of opportunities. 2.3 million tourists visited Riga in 2016. 100 EUR were spent per tourist, per day, in the city. For the whole country of Latvia, this translates into 550+ million of euro in investments in the national economy, made by foreign tourists. If you add to that the fact that 1/5 of the budget of a UK tourist is spent on souvenirs, then the potential becomes clear for innovations on this particular high-volume souvenir market.
visited Riga in
spent by foreign
tourists in Latvia
EUR spent by
tourist per day in
of the budget of a
UK tourist spent
Traditional: overcrowded; focused on the
shop; tones of cheap merchandise, but
lacks affordable local landmark souvenirs.
3D printed souvenirs: appealing to tourists
/customizable/; appealing to natives /local,
patriotic/; affordable by design /co-created/.
One Riga-related design on “Thingiverse”,
word’s largest 3D design community.
Literally everything worth keeping memory of when in
Riga – historic, cultural and nature landmarks.
EXISTING 3D DESIGN
15+ global online platforms with millions of
designs. Compared by some users to ‘junk-yards’.
Exclusive and curated content. Online platform with
a ‘boutique’ appeal, focused on all local & traditional.
MEET JOHN, THE WISE GUY
• According to data from Riga’s tourism development bureau the typical tourist
visiting Riga is 36 years old, intelligent and multi-sided person, a.k.a. John.
• If only 1% of all 2.3 million Johns are converted towards LoCo.gifts, their
budget of 20 euro on souvenirs will amount for 460,000 euro in annual rev.
• Keeping 10% of the revenue while the rest goes to the actual printers and
designers, leaves LoCo.gifts with an income of 46,000 euro.
• That’s without even considering the interest from locals and people abroad.
And the scaling opportunities beyond Riga as a pilot.
THINGS WE HAVE VS. THINGS WE NEED
Unique market opportunity on the crossroads
of the tourism and the 3d printing markets
Seed investment to kick-start the business
Existing demand (raising inflow of tourists) and
supply (growing community of makers)
Time to work on marketing
Untapped partner channels (museums, galleries
and tourism bureaus)
Time to work on business development
Mature software and hardware technology Own platform and a set of production tools
Experienced project lead (bio @ daskalov.info) Full-time designer to feed the initial inventory
Upcoming 100th independence anniversary Digital representation of Latvia’s heritage