Xpressions 4 U anticipates an increase in sales of its popular Pot of Dreams as customers break into the money boxes to bank old £1 coins before the October deadline
While the new 12-sided £1 coin is causing headaches for many businesses that rely on vending or ticketing machines, giftware and party specialist Xpressions 4 U is anticipating it will boost business for many card and gift retailers who stock its Pots of Dreams products.
These are ceramic money boxes need to be broken in order to get to the savings inside – and this is where the opportunity lies!
“We know a lot of customers will be breaking their Pots of Dreams open over the next few months in order to either spend or hand the old £1 coins into the bank,” says Christine Harrison, independent sales director for Xpressions 4 U. “And then all those broken Pots of Dreams will need to be replaced, how wonderful for retailers! We are encouraging all our stockists of Pot of Dreams to plan ahead to replenish stock for summer/autumn. Maybe there’s even a chance to do a spot of promotion about the coin change, for instance, if a retailer put their business card into each Pot of Dreams they sell, then anyone receiving the pot as a gift will know where to go and buy a replacement. We are also launching a new personalised pot stand for the summer which we expect to be very popular with children in particular.”
Steve Davies is owner of RSVP Greetings in Porthcawl and has been selling Pot of Dreams for many years now and the money boxes show no sign of slowing down. “It seems, in the current economic climate, it is now more important than ever, for us all to save for those extra treats,” says Steve. “The consumer will need to bank their old pound coins by October so I expect people will be replacing their pots once they break into them. The Pot of Dreams concept of not being able to access the savings without breaking the pot really does work well. Some of our best-selling pots are: Wedding Fund, Holiday fund and Baby, but all designs are popular with new editions all the time. The latest designs to really grab the customer’s attention are the new ‘glow in the dark’ designs.”
The public has until 15 October 2017 to bank (or spend) any old £1 coins.
