High Street retail was a major focus at this week’s Giftware Association AGM, which took place at the Nottinghamshire Golf and Country Club on June 18.
Analysing the retail statistics, keynote speaker Michael Weedon, managing director of exp2, highlighted that newspaper headlines are, of course, written solely to grab people’s attention. “The statistics confirm that we are not in a retail slump, yet all the press ever talk about are CVAs. However, according to the Local Data Company, 43,000 shops opened in the last year. Plus, according to the ONS, more money is being spent by consumers than ever before, growing from £365bn in 2017 to £381bn last year, with the increase higher than inflation.”
He continued: “Our growing population has got a lot to do with it, with the figures, showing that the UK’s population has been risingby nearly 1% year on year every year for more than a decade, representing half a million people – which is good news for retailers. And during that ten year period, retail park footfall more or less matched the growth in population, although it did take a dip last year.”
Michael also pointed out that online represented 18% in 2018. “The annual growth rate of the online share has slowed from 50% in 2008 to 9% a decade later, and there are predictions that it will fall to 7% this year. If it stays at that rate of growth it will take another decade to double,” he stated.
Moving on to talk about independents, he suggested that hybrids seemed to be the way forward. “For example, a camera outlet with a coffee shop, a book shop with a gaming gallery and a chocolate shop holding workshops,” he highlighted. “I have always believed that associations such as these really work,” he concluded.
Other speakers on the day included David Glenwright from JC Social Media, who explained how businesses can make the most of social media apps such as Facebook Shop and Instagram Shop, also highlighting that lifestyle imagery on social media was becoming increasingly important to grab people’s attention. A panel of three speakers – Hollie Whittles from Fraggleworks, business psychologist Jess Baker and transformational women’s coach Helen Leathers – focused on how businesses can look after their staff’s mental health. The final speaker of the day was Evan Lewis, founder of award winning Vent for Change, who talked about being an environmentally conscious and green business which uses recycled plastic to make stationery items, and how delegates could ‘green’ their own businesses.
Summing up the day, the GA’s ceo Sarah Ward said: “It was great to see so many new businesses attending the AGM this year and really taking something away from the day.”
Top: Retail expert Michael Weedon was among the keynote speakers at the GA’s AGM.
