3 minute read
Bryony Taylor-Edwards, head
Let’s talk about…
takeaways from 2022
Bryony Taylor-Edwards, head of brand and gift, home, food, and toy buyer at Yarnton Home and Garden in Oxfordshire, asks: is mass consumption over and, if so, what does that mean for the gift Industry?
Across the UK and the globe, 2022 was an unparalleled year. And as tempting as it is to push it to one side in a bid to forget, I do feel it is one we should take stock of.
From the loss of Queen Elizabeth II, political turmoil at Westminster, the costof-living crisis, the impact of the war in Ukraine, and the desperate effects of global environmental issues, the year brought huge national and international insecurity.
Within this, the gift and retail industry was hit with supply chain issues, price hikes across all sectors, and a huge withdrawal of public spending in the leadup to Christmas. Large retailers closed or reconfigured their operations by the day.
Some would say we exited 2022 in tatters and it’s hard to predict what 2023 may look like. But where there is challenge and hardship, there is learning. And where there is learning, there is growth. So here’s what I will be taking away from 2022:
Less is more
The old proverb of ‘less is more’ tells us that what is of a small quantity, could be of a higher quality - for everyone, from consumers and suppliers to wholesalers. The environment is demanding this of us. It doesn’t mean everyone needs to pack up and go home. It just means we need to do
things more consciously, focusing on what is necessary and losing what is not. This can be a good thing, as it forces us to focus on quality over quantity, and on who we are as businesses and why.
Avoiding sustainability as a key strategy is no longer an option
It doesn’t matter where you are in the supply chain, or how much experience you have in the field, now is the time we all must lean in, learn, upskill, and start taking our first steps on the sustainability journey. Consumers may not be demanding it, but the environment is, and we all have a role to play and a responsibility to take. Now is not the time to wait, but to act. We have already seen some major retail lights take the lead.
Humans will always congregate, and the ritual of gift-giving will remain part of that
Humans are sociable by nature, and most are generous. Gift-giving is a ritual that we have come to love and adore. I don’t see this stopping, but I do see shoppers being more selective about what they buy and why they buy it. People are looking for gifts that keep on giving. They are also looking for some respite and comfort, and gifts which offer that.
From adversity comes creativity
We have a huge capacity to adapt and create and, when harnessed, we can do amazing things. We have seen no shortage of adaptation and creativity over the past few years, from tech advances that allow us to become hybrid creatures with the ability to work anywhere, to people across Europe opening their homes to Ukrainian refugees. The Great Resignation arrived as we shifted our focus from personal productivity to happiness.
Retail has seen some huge creative solutions to the problems presented to us, from fashion chain Zara launching its Resell Platform [a customer-tocustomer service for selling pre-owned Zara garments to, or buying them from, other customers] to Selfridges launching Reselfridges [an eco-conscious collection of pre-loved items, which is part of the department store group’s Project Earth scheme].
If you can survive 2022 you can survive anything
Yes, it’s been so tough and yes, there is still a road ahead, but it’s survivable. And to survive, you must adapt. To adapt, you must ask yourself some fundamental questions, such as: how is the world changing? And how must I change with it?
Email: Bryony@yarntonhomegarden.co.uk Visit: www.yarntonhomegarden.co.uk; www.instagram.com/yarntonhomegarden; www.linkedin.com/in/bryonytayloredwards
