introduction editor’s comment The attitude matters
GfK market intelligence shows that the independent electrical retail market is contracting; from 5,571 stores in 1990 it was reduced to 2,999 in 2010. The economic pressures and competition from the internet are changing the structure of the electrical market. At the 2011 retra conference, Nigel Catlow predicted that in five years time there will be fewer retailers on the high street as supermarkets and the internet will grow further. This will create a wider gap between the services provided by added value retailers and the generalist ones.
If this prediction proves correct the smaller number of remaining independent retailers will have to find their niches and become specialists. Most likely they will have to adapt to become multi-channel retailers.
This may not be a comfortable transition for everyone and electrical manufacturers who value their independent dealers may have to give a helping hand to their trade partners. Yet, the massive investment which leading brands are currently making in their training facilities for retailers is indicative of the manufacturers’ appreciation of the role of the independents, who with their superior product knowledge and high levels of service support manufacturers’ products on the sales floor and communicate to the consumers their brand values.
Steve Clarke, business entrepreneur and author of How to thrive not just survive, stressed the importance of the ‘can do’ attitude in business. He argued that the ability to adapt to changing market realities and to identify new opportunities (including these offered by new media) will be key in the coming months. A positive attitude opens the mind for potential opportunities. As the industry is now hopefully bouncing back from the recessionary bottom – let’s add the ‘can do’ attitude to the independent’s professional toolkit. ■
Neff showroom and training facility The IERBusiness Book
The Business Book combines market data and the research expertise of the UK’s leading market analyst – GfK – with the product knowledge of managers of the key electronic and electrical brands in the UK, and analytical skills of contributing journalists who helped us to put the Business Book together. With comments and suggestions on how to make the future editions of the Business Book more useful for you, please contact me at:
aryland@datateam.co.uk or call me on 020 8429 5871.
IndependentElectricalRetailer 8 BusinessBook2011
in association with GfK
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