PG’s Retail Barometer is now live – help build true picture of independent greetings sector
What a year it’s been – with only a few days until we wave goodbye to 2023 and welcome in the Year Of The Dragon PG’s Independent Retail Barometer survey is now live and will be open for submissions until early January.
Being the only annual survey into what’s happening on the indie retail front, all independent greetings stockists are urged to participate with their responses collectively painting a true picture of how trade has panned out in 2023.
“While we’ve avoided the chaos of last year’s postal strikes, there’s been the sharp increase in stamp prices and the continuing challenges of the cost-of-living crisis, but then we have had the full gumption behind the #Cardmitment campaign pushing card sending like never before,” commented Jakki Brown, md of Max Publishing, which owns Progressive Greetings and PG Buzz.net.
“Just how have these elements and others affected the consumers card buying habits? We really need to compare 2023 to 2022 to see how the greetings industry is faring – and the PG Independent Retail Barometer enables that to happen, but we need your input, lovely indies!”
The survey is already live, with a deadline of 8pm on Wednesday, 10 January, and all indie retailers of greeting cards are asked to help by contributing their opinions and comments.
Looking back at the findings of the 2022 Barometer, where 1,750 shop owners took part, almost half of the respondents saw their business grow on the previous year, albeit marginally, while a third held the line on the year previous that had been a bumper one for many, while around a quarter experienced a slide in sales.
Indies started an uncertain 2023 with a feeling of cautious optimism – 35% came into the year aiming for growth, although only 4% had said they were expecting significant growth, 76% expected to grow or hold steady. How did it end up? The Barometer findings will shine a light on this.
The average spend per customer in 2022 may not have reached the heights of 2021 where lockdowns saw more concentrated spending, but it was on the up for 46% of respondents – 8% said it had increased significantly – though sadly a third experienced a drop.
This year’s Barometer readings will show whether the shop local drive has continued to serve indies well. It was a trend cited as having been the biggest help to trade across 2022 by 64% of respondents, but with more returning to office working in 2023, how has this panned out?
On the downside, the all-encompassing cost-of-living crisis came straight into the list as the top reason indies cited for having had a detrimental effect on their business over the year, though the Covid hangover was still among the top banes, dropping from first to third, as were supply issues which went down two places to fourth and, with people able to get back to shopping in person again, the old chestnut of parking issues climbed back up to fifth place from 10th, while the bugbear of charity shops selling cards rose to seventh from joint 11th.
While the postal strikes did feature as having made a dent on trade, as the survey covers the whole year and the industrial action started in early December, this upheaval only snuck in at 14th place – so it will be extremely interesting to see if it’s still considered an issue for 2023 or if stamp prices are a bigger worry.
“We always have a great response from retailers to the Barometer, enabling us to provide a meaningful benchmark over the years,” said Jakki, “but the more the merrier to ensure the picture we get is as authoritative as possible of indies’ collective experiences for the past 12 months as well as their hopes for the coming year.”
The survey can be completed within 12 minutes, or in sections so retailers can stop and start if they so wish. Respondents just need to be sure to access the link using the same device, however, all answers are final once they click done.
Whatever your business experience over the past year, all views count – and remember, every individual submission remains confidential. So, if you’re an independent retailer please do participate in this significant survey by clicking here and completing your answers by 8pm on 10 January.
