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Let’s Get Ready to Rumble
Listed under: One Voice
Published: Saturday, January 31, 2009
With Britain officially in recession, it's time for the gloves to come off and the battle to begin. Steve Fothergill, head of sewing and embroidery solutions at Brother UK, gives his take on how businesses can survive the year ahead
How do you think the market is performing in the current economic climate?
The craft industry is proving fairly resilient and there are positive signs that the industry will continue to perform well. Our sales show a continued demand for machines at all price levels, which is very encouraging to see as it suggests interest in this area remains high. The recent ‘make do and mend’ boom in the media has also helped, as it has introduced crafts to a completely new audience. This is something retailers will need to capitalise on over the next year.
What are your top tips for retailers looking for ways to survive the recession?
Make sure your business is as streamlined as possible, ensuring every penny spent on marketing works as effectively as possible for you and delivers maximum returns. Work closely with your vendor partners to find out what they’re offering in terms of promotional support – after all, you’re aiming towards the same goal so it makes sense to work together on marketing strategies.
Retailers may be tempted to look at widening their range of products to attract new customers and, if this is something you’re considering, it’s important to do your research before committing to a major investment.
How can indie retailers compete with the massive sales thrown by the large multiples ?
In-depth knowledge of customers and products is what sets you apart from non-specialist retailers, so use this to your advantage. Make sure you are always on hand to advise newcomers about some of the useful materials they might need, as well as taking the time to introduce more experienced crafters to any new or challenging products that come your way. Consider ways you can share your knowledge with the local community; in-store demonstrations and anything that will get people crafting are a great way of driving interest and sales.
What are your predictions for the year ahead?
Judging by our experience over the past few months, we believe crafts will continue to do well over the next year. Embellishment, customisation and personalisation will be the buzzwords in 2009, with people looking for new ways to revamp and renew the materials in their homes.
What are the biggest mistakes retailers can make during this time?
The worst thing a retailer can do is panic and put in place new sales strategies which haven’t been properly thought through. There is plenty of help available from vendors to support marketing activities – either through promotions, exclusive offers or seasonal campaigns. Retailers should use resources like these to help maximise their communication with customers throughout the year.
How long do you think the recession will last and when do you think the situation will begin to improve?
No one can predict the end of the current economic climate, however there seems to be a general consensus that the rest of 2009 will prove exceedingly difficult. All retailers can do is continue working hard to ensure their businesses remain as strong as they can possibly be.
The craft industry is proving fairly resilient and there are positive signs that the industry will continue to perform well. Our sales show a continued demand for machines at all price levels, which is very encouraging to see as it suggests interest in this area remains high. The recent ‘make do and mend’ boom in the media has also helped, as it has introduced crafts to a completely new audience. This is something retailers will need to capitalise on over the next year.
What are your top tips for retailers looking for ways to survive the recession?
Make sure your business is as streamlined as possible, ensuring every penny spent on marketing works as effectively as possible for you and delivers maximum returns. Work closely with your vendor partners to find out what they’re offering in terms of promotional support – after all, you’re aiming towards the same goal so it makes sense to work together on marketing strategies.
Retailers may be tempted to look at widening their range of products to attract new customers and, if this is something you’re considering, it’s important to do your research before committing to a major investment.
How can indie retailers compete with the massive sales thrown by the large multiples ?
In-depth knowledge of customers and products is what sets you apart from non-specialist retailers, so use this to your advantage. Make sure you are always on hand to advise newcomers about some of the useful materials they might need, as well as taking the time to introduce more experienced crafters to any new or challenging products that come your way. Consider ways you can share your knowledge with the local community; in-store demonstrations and anything that will get people crafting are a great way of driving interest and sales.
What are your predictions for the year ahead?
Judging by our experience over the past few months, we believe crafts will continue to do well over the next year. Embellishment, customisation and personalisation will be the buzzwords in 2009, with people looking for new ways to revamp and renew the materials in their homes.
What are the biggest mistakes retailers can make during this time?
The worst thing a retailer can do is panic and put in place new sales strategies which haven’t been properly thought through. There is plenty of help available from vendors to support marketing activities – either through promotions, exclusive offers or seasonal campaigns. Retailers should use resources like these to help maximise their communication with customers throughout the year.
How long do you think the recession will last and when do you think the situation will begin to improve?
No one can predict the end of the current economic climate, however there seems to be a general consensus that the rest of 2009 will prove exceedingly difficult. All retailers can do is continue working hard to ensure their businesses remain as strong as they can possibly be.
