I operate a number of ecommerce sites, so I'll give my perspective. I will preface this by saying I like the concept, and the implementation is clean. Congratulations on your launch - it's nice to see new ideas entering the industry.

First, you should be aware that launch traffic is demographically nothing like customer traffic. If your site has been posted to tech blogs, startup blogs, tweeted amongst your tech friends, etc, then most of that launch traffic is of the "I'm just checking out this cool new site" variety. This does not convert nearly as well as the "I really need to schedule a gift for my wife" variety. Expect your blog links to pay off over time in SEO linkjuice value, not in the one-week short run.

Second, you picked a bad time to launch a gift scheduling service. Well over half of your potential customers have already purchased the items in their gift list. And for those that haven't, they will most assuredly be going to companies with longer-running reputations that they can trust to fulfill delivery timeframes. Expect October of next year to be significantly better.

Third, the UI is probably not intuitive to people accustomed to traditional ecommerce sites. Aunt Millie is probably not going to realize that clicking on the barely-visible arrow icon on the left/right margins will display another product. One unfortunate fact about ecommerce, and one that is likely the driving force behind stagnation in design evolution, is that catering to expectations is usually more valuable to conversions than catering to coolness. I say usually because there are a few exceptions to this rule( think Apple ), with heavy emphasis on a few.

Fourth, impatience. Seriously, it's been a week. It takes time to get to know your customers. As you learn more about them, you'll be able to craft an experience more conducive to giving them what they want, and as a by-product, increase the conversion rate.