Balanced views from real independent retailers - not all doom and gloom!
There are more and more people getting fed up with the intensity of the negative press on retail. OK so it is certainly tough at the moment, but a lot of these retailers than have gone under have been stugggling for years. Speaking to our own customers before and after Christmas, the vast majority have had as good as or a better period than last year. None that I have spoken to have had it worse than expected due.
So it was really refreshing to see the email from Isabel at the Giftware Association to present their findings after talking to independent retailers at Torquay Fair.
"Having just spent the last few days at The Torquay Fair, with GA Chairman Mike Burgess joining us on Monday and Tuesday, we thought you would like to hear that many members were in a positive mood. We are all fed up with the negative perspective and doom and gloom being presented by the national media, when on the ground in the gift and home industry there are some good stories.
Some of our supplier and independent retailer members have told us that if they didn’t watch the news on TV, listen to the radio or read the papers they would not yet be aware, from their own business performance, that we are apparently in a recession, and all agree they would be feeling much better, less dragged down.
We have said before that the gift and home industry can be remarkably resilient during tough times, as celebratory events continue and people want to cheer themselves up with an inexpensive gift for themselves or their homes. Some members are also optimistic that they may benefit if British families decide to take their summer holidays in the UK, as exchange rates make travelling to the Euro zone and the USA an expensive option.
Independent retailers can be more nimble than the larger multiples and they are working hard to attract shoppers with their more personalised service. Could this year see the beginnings of a revival of the independent retailer?
We are not ignoring the fact that business is proving tough for some and everyone is going to have to work harder to succeed. We anticipate there will be more casualties but those who keep reviewing and adjusting their business operations and providing customers with interesting new product and good service will be the winners.
We recognise that the banks are tightening up and we understand that this will present some challenges for members but those banks which are now accountable to the government are required to deliver government initiatives to stimulate the economy. Lord Mandelson announced this morning an injection of £10 billion for the banks to provide small businesses with additional working capital to sustain existing loans and create new ones.
The government is also setting up an Enterprise Guarantee Scheme as part of the support package. This will secure up to £1.3bn in additional bank loans to companies. This money is to go to "smaller, viable, credit worthy firms hit by the downturn.” These companies will be able to borrow a maximum of £1m, with 75% guaranteed by the government. The money can be used for working capital - to pay wages for example - or for new investment."
Isabel Martinson
Chief Executive
So it was really refreshing to see the email from Isabel at the Giftware Association to present their findings after talking to independent retailers at Torquay Fair.
"Having just spent the last few days at The Torquay Fair, with GA Chairman Mike Burgess joining us on Monday and Tuesday, we thought you would like to hear that many members were in a positive mood. We are all fed up with the negative perspective and doom and gloom being presented by the national media, when on the ground in the gift and home industry there are some good stories.
Some of our supplier and independent retailer members have told us that if they didn’t watch the news on TV, listen to the radio or read the papers they would not yet be aware, from their own business performance, that we are apparently in a recession, and all agree they would be feeling much better, less dragged down.
We have said before that the gift and home industry can be remarkably resilient during tough times, as celebratory events continue and people want to cheer themselves up with an inexpensive gift for themselves or their homes. Some members are also optimistic that they may benefit if British families decide to take their summer holidays in the UK, as exchange rates make travelling to the Euro zone and the USA an expensive option.
Independent retailers can be more nimble than the larger multiples and they are working hard to attract shoppers with their more personalised service. Could this year see the beginnings of a revival of the independent retailer?
We are not ignoring the fact that business is proving tough for some and everyone is going to have to work harder to succeed. We anticipate there will be more casualties but those who keep reviewing and adjusting their business operations and providing customers with interesting new product and good service will be the winners.
We recognise that the banks are tightening up and we understand that this will present some challenges for members but those banks which are now accountable to the government are required to deliver government initiatives to stimulate the economy. Lord Mandelson announced this morning an injection of £10 billion for the banks to provide small businesses with additional working capital to sustain existing loans and create new ones.
The government is also setting up an Enterprise Guarantee Scheme as part of the support package. This will secure up to £1.3bn in additional bank loans to companies. This money is to go to "smaller, viable, credit worthy firms hit by the downturn.” These companies will be able to borrow a maximum of £1m, with 75% guaranteed by the government. The money can be used for working capital - to pay wages for example - or for new investment."
Isabel Martinson
Chief Executive
