Progressive Gifts & Home May June 2022

17_19_GF.qxp_25/27 22/05/2022 15:12 Page 1

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Half Term Report The cost of living squeeze is starting to bite, and there isn’t a day that goes past without negative headlines highlighting the current state of the economy and where it’s heading. So how have gift retailers found the year so far, and what are their concerns as we move into the second half of 2022?

Thumbs Up... For Now “The first few months of 2022 have started incredibly well,” confirms Jo Barber, owner of No. 14 Ampthill, Ampthill. “There’s no point making comparisons against previous years, but compared to 2019, it’s going well … really well … for now. “Valentine’s and Mother’s Day were both well above our forecast and customers are still crazy about making their house a home. Home accessories are flying out, and our best sellers continue to be faux plants and stems, crockery, planters and home fragrance.” However, Jo says that she is taking nothing for granted. “Each week, I wonder if we’ll start to see changes in shopping habits, as the media are reporting on the cost of living every day, so if customers weren’t feeling cautious, they soon will,” she points out. “And although we haven’t seen a downturn yet, I think it’s only a matter of time. One shift we have seen though, is perceived value. Customers now deliberate more over price, and the £29.99 handbag is starting to win over the usual £39.99 best seller. They’re also gravitating towards greeting cards that retail under the £3 price point and candles at under £15.” Continues Jo: “I recently visited one of my top suppliers to view their Autumn/Winter range and gasped at some of the prices. I couldn’t justify ordering a number of their larger items, and those I did order were in more sensible quantities compared to previous years. Usually, I place large orders with my suppliers as it saves me time and it means we always have a decent level of stock. However, looking ahead, I think it would be wise to order little and often. It will mean more work, but also, I won’t miss out on special offers and promotions.” Left: No 14 Ampthill, Ampthill.

What The Figures Reveal The latest figures from the retail sales monitor published by the British Retail Consortium (BRC) and KPMG revealed that spending on the high street dipped by 0.3% in April following a sharp decrease in consumer confidence as household budgets became more stretched.

‘Shop Small’ Is Thriving “As hard as the economy is for everyone at the moment, with everything going up - including all our prices, import charges etc - we aren’t seeing a major downturn,” states Rachel Roberts, owner of Wishlist in Rayleigh. “I think people are very much supporting independents like Wishlist, and shopping/staying close to home. Customers want unique, fun, colourful, meaningful gifts and cards and love newness and variety.” As she explains: “At the beginning of the year, we didn’t have a massive sale, mainly because Christmas was so good. We continue to push on social platforms, as WFH still means people are forever checking up on exciting new products and news. And our own exciting news is that we are expanding and opening another store very soon! Therefore, so far, ‘shop small’ continues to thrive!” Above: Wishlist, Rayleigh.

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