Retail100

While we are all busy with Christmas, Sara Allbright at Retail 100 reminds us that we must also keep an eye on what will be happening in 2023

Be prepared for 2023

Looking ahead to Spring/Summer 2023 can be quite difficult right now when you have to be laser focused on having a good Christmas trading season and not be too distracted by the state of affairs in the wider UK and World economies. However, the transition into the new year is a really crucial time to set out your stall for the year ahead and the whirlwind of seasonal events that starts with Chinese New Year in January, Valentine’s in February and finishes with the Dads on Father’s Day in June.

For many, January and New Year mean resolutions, oftens based on things that people are going to stop doing or change about themselves. Many larger multiple retailers hone in on this and the perpetual ‘New Year New You’ slogans rebound. While the excesses and gluttony of the festive season will always no doubt rebound for many into a period of enforced wellbeing, I for one would rather see the gloomy month of January abound in more of a celebration of the person you are rather than the one you could be.

The mindset of the spring clean, however, is a good place to start, not only in appealing to your customers but also in your approach to your business at this time of year. The first and most important thing to consider is how well you have dealt with any Christmas residual

stock. It would be Nirvana to think that anyone comes out the other side with nothing hanging around, but the most important thing is to have a plan on how to deal with it, be it through compelling reductions or the ability to re-merchandise it into new displays if generic enough. The ability to do this well allows you to be clear about your strategy for the year ahead.

Valentine’s Day comes first through the gates in terms of a large sales opportunity in the year and while the fact it falls on a Tuesday this year holds back its full potential, the reality that many dogs and cats now receive a Valentine card shows that many people love the excuse to send a card or small token to whomever might receive it.

This year it will only be just over a month before Mother’s Day follows hot on its heels and for many this can be the biggest peak in sales of the first half of the year. There is an element of continuity in the stock that can work well for both Valentine’s and Mother’s Day, with overarching themes of love combined with florals and pink/red appearing in both, however if you want to be clever with your stock management just ensure that how you present and merchandise elements like this for each event dramatically differs, to give your customers a unique point of view on both.

Likewise, for both events personalisation always adds a different dimension to people’s gifting and allows you to take generic items and give them a unique meaning. For a relatively small investment there’s a variety of techniques you can now use in store and offer online to do this that create easily applied lettering and sentiments.

In the background of all of this will be the fact that supermarket retailing in particular will have had Easter stock on shelf as soon as Christmas cleared the seasonal aisles. While many may bemoan this, these retailers would not give over significant amounts of valuable space and stock investment to these categories if they didn’t start selling it. Many of us are no doubt guilty in rejoicing at the return of Mini Eggs or a Creme Egg.

Outside of food retailers, the lead into Easter is best taken as a spring and newness theme, using the lighter and brighter colours of the season to drag us kicking and screaming out of the January blues. The trend for decorating homes in the lead into Easter is still growing year on year, and many a front door is now graced almost year around with a different themed wreath.

Who could have foreseen that 2023 would

“The transition into the new year is a really crucial time to set out your stall for the year ahead and the whirlwind of seasonal events that starts with Chinese New Year in January’’

present us with an unexpected trading opportunity to bridge the gap between Easter and Father’s Day? It has just been announced that the coronation of King Charles III will be on May 6, so stand by with the mugs and bunting.

Overall, to survive through a Spring/Summer season, trading agility has to be key as you leap from one event to another, with many only peaking on the few days before the big day itself. Being there for all of life’s moments - as one particular large retailer has just declared itself - will see customers return to you and encourage loyalty in key gifting categories and the associated products such as cards and wraps.

Writing in a November/ December issue it would be remiss of us not to touch on the season and we would like to take the opportunity to wish you all a very Merry Christmas and a happy and healthy New Year. All the best from Team Retail100.

Prior to Retail100 Consulting, Sara worked in buying roles at John Lewis & Partners for 18 years, predominantly for home and seasonal categories, including eight years leading gift and home fragrance buying. She has specialised in brand relationships and growing small emerging brands into market leaders. Sara is also experienced in own-label sourcing across multiple categories and countries. Email: hello@retail100consulting.co.uk Visit: www.retail100consulting.co.uk | www.linkedin.com/company/retail100-consulting