I did some keyword competitive analyis for you with following results:
Search Term,Searches,Words,Ads (Google),Ads (Yahoo),CPC (Google top 3 Avg.),Competitiveness,Inanchor,Intitle
gift shop,4107,2,10,0,1.38,2680000,354000,774000
gadget shop,1431,2,9,0,0.89,366000,20600,45200
unique gifts,8805,2,11,0,1.66,2000000,140000,635000
personalised gifts,1379,2,10,0,1.92,708000,21900,73000
personalised birthday gifts,199,3,10,0,1.49,1880,1990,1010
Those are the keywords, you have tried to use in your title. I agree, that for
SEO work there is much to do. All your anchor texts, filenames, etc...
But paying AdWords $2 per visitors with 2% conversion rate you should sell at least for $100 to get even?
Maybe concentrating to more specific keywords could be a solution.
Also why you don't want to run your shop in e-bay or amazon? More easier to generate interest and you do not have to spend by developing and hosting your own platform, even I loved your design.
Or maybe affiliate program could be solution? You will pay much less for affiliates than using PPC model.
Also noticed 404 errors as mentioned here before.
Didn't find your link partners so there is much work to do getting proper incoming links established.
To hire
SEO specialist could cost you up to £2K. Does it make you enough ROI?
Anyway, based on search usage there is enough market for your products.
I would use also gift vauchers as marketing strategy (online and offline). Could be suitable for your product line.