Supporting customers in challenging times.

Supporting customers in challenging times.

A message from Glenn Leech, CEO at Banner

What a year it’s been!

So much so, it’s almost hard to believe that only last October many schoolchildren were still wearing masks, windows were wide open in classrooms and parents were anxious about what winter would bring. Twelve months on and attentions have shifted: energy bills, the cost of living, rising interest rates and the real prospect of a recession…

I could go on, but we all know the background and nobody knows better than retailers how turbulent the times are on the high street and wider economy. Which is why supporting retailers is our number one priority as we take action to steady and steer the ship in what are choppy waters for us all.

Firstly, I should acknowledge that worldwide supply chains continue to see disruption, and though less severe than previously, we are still some way from international exporting getting back to normal. We continue making every effort— backed by considerable cash investment —to secure stocks and though no one can offer a cast iron guarantee, we do expect the coming year to see a material improvement.

But more immediately, it’s clear that concerns over the cost of living are impacting consumer confidence, and schoolwear is no exception. The consistent feedback from our customers is that parents are shopping cautiously, buying fewer items now and delaying optional purchases to later in the year. Frankly, it didn’t help that Back to School fell before the announcement on further help with fuel bills.

From a supply side perspective, the weakening exchange rate has put huge pressure on import cost. Here at Banner we are doing all that we can to keep prices rises to a minimum, taking a long term view on offering value for money. Furthermore, although we can’t shift the economy, we can take action to help our customers and that means doubling down—rather than holding back—on our commitments to service, support and sustainability.

Investing in service

So we are investing even more in service this coming year. From a supply perspective, we will seek, and where necessary pay a premium for, priority deliveries from our partners. We are also expanding our embroidery services to meet growing demand. But most important of all we are increasing our product development to bring new, more sustainable and innovative garments to the market. For ultimately it is the quality and range of what we sell that make the most difference not only to our business but to our retailers’ fortunes too.

Supporting specialists

We are absolutely committed to supporting specialist schoolwear retailers, and plan to increase the resources that help you to promote your business to parents and schools. Over the coming months our Media Hub will have even more marketing materials, even more advice on winning and retaining contracts, and we’ll be adding posters and leaflets that promote the importance and value of schoolwear. Our aim is simple: to be your partner in success, helping you win contracts and grow your sales by freely drawing on whatever experience and expertise we can provide.

Sustainable futures

And last but not least, we will be accelerating our commitment to sustainability. For now, more than ever, is the time to differentiate specialist schoolwear, showing that it’s made with care and makes a positive difference to the world we live in. In this regard, by meeting the aspirations of children and the concerns of schools, sustainability is the friend not the foe of value. By 2023 two thirds of Banner’s garments will be manufactured from eco fabrics, retaining all their trademark durability while strengthening their ethical standards. This isn’t just good for the planet and its people, it’s good for all our businesses too.

As I finish these remarks, I’m conscious that the immediate future remains uncertain. How I wish that Banner had all the tools to fix the economy and save the environment! But of course we don’t, and worrying about forces beyond our control is no reason to delay action that is sound for the long term as well as supportive of successes now. More than ever I am determined that we do everything possible to work with our customers and come through these challenging times together.