Sarah Ward, chief executive of The Giftware Association

Thoughts of a chief executive

Sarah Ward

2022 was a transformative year in gifting, and the continuously changing landscape means that retailers and brands must step up their game if they want to thrive in 2023, says The Giftware Association chief executive Sarah Ward

We have another challenging year ahead, but the outlook can still be positive

The tiny but mighty team here at the GA have some big plans for 2023 ‘

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This issue’s column is not reflective, nor is it trying to scaremonger. Instead, I want to share what we at The Giftware Association (GA) have planned to ensure that we are supporting you and your business to navigate the interesting road ahead.

Let’s start by looking at the customer trends that have crystallised in the past few months, and are set to dominate the gifting markets (see box). All the trends we’ve identified are driven by change and innovation.

We hosted more than 100 mentor meetings with members last year, and we often discussed the changing consumer environment so businesses could effectively plan. Giftware businesses need to stay on top of trends that will impact their success, to get ahead of the curve. Embracing change will help both suppliers and retailers thrive in 2023.

Recognising and understanding trends in our industry will ensure that you can identify new opportunities,

whether that be branching out into new market segments, launching new sales and marketing channels, developing new products and services, improving sustainability and supply chains, or providing new customer experiences. Identifying opportunities early will ensure you stay one step ahead of the competition and enable you to achieve your business goals. So, with all this in mind, the tiny but mighty team here at the GA have some big plans for 2023, designed to steer, guide and support you in all your growth plans. The first big project for us is the development of our educational output via our website. The GA is known for its unrivalled knowledge, support, guidance, connection, and opportunity. Our team spends a good portion of the year visiting every appropriate trade show in the country, speaking to our members, understanding their needs, offering advice, and encouraging them to take on some of the retail Here are four top trends to watch out for: opportunities provided by the organisation. 1 Ecommerce and social commerce are here to stay. There are now an estimated 12 to 24 million ecommerce stores globally, and 58.4% of internet We exist first and foremost for our members, providing users are buying online each week resources, advice, and connectivity so that, no matter 2 Personalised experiences are a vital component of any ecommerce experience. As technology and analytics capabilities evolve, retailers lagging what we face in the future, we not only survive but thrive. We in personalisation will be playing catch-up in 2023, to create equally compelling have been on the frontline of experiences on their channels retail now for over 75 years and 3 Reviews and testimonials are crucial for consumer decision-making. In a LinkedIn poll carried out by Intelligence Node, 41% of respondents specified totally understand the challenges faced by our members. that they found consumer reviews and ratings the most important factor while Collaboration and education making a purchase online are key - driven through a determination to provide 4 The circular economy needs to be at the heart of your brand messaging moving forward. 52% of consumers value increased sustainability efforts from opportunities for learning and inspiration via our proposed brands - an effect of the pandemic’s forced changes in buying habits education and resource offer.

Now, more than ever, we recognise how vital it is for us to engage, support and drive growth in the industry we care so passionately about.

This year, to ensure our members remain ahead of their competitors, and can identify new opportunities, we will also be enhancing our business mentoring programme that was so successful in 2022. The objective of the scheme is to mastermind where your business is at, and help you overcome the challenges you face, so that you can continue to grow.

Every member is entitled to one mentoring session with me or an expert in their field from our national committee. Our sessions take a deep dive into the issue or issues your business is facing - and we keep in contact with you to ensure you are moving forward. For those of you who have been a member for some time, you will know that we are always on hand to talk.

In a nutshell, we have another challenging year ahead, but the outlook can still be positive. No more so than now, does being part of an industry body mean so much: a direct line into government, a powerful advocate for our industry, community, mentoring, support, knowledge, and education. We are so much stronger together and we look forward to success in 2023.