retailer spotlight: the handpicked collection
Images this page: the Handpicked Collection selects gifts that are quirky, yet practical and well made.
testing to say the least! “The list of challenges I have faced is long! Getting all elements of the business to perform to the standard we want is difficult as you are so reliant on other people. But the biggest obstacle for us, like so many small businesses, has been budget. Although we don’t have a physical shop, we do have a lot of costs, and building a new business in the recession has been demanding. We have to spend a lot of money up front, with no guarantees of a return, especially with so many people cutting back on their spending. So getting the balance between spending too much and spending too little has been tricky.” Jo’s approach to the recession has been caution, “We have been more conservative with our forecasts and extremely prudent with how we spend our money. We have also been less adventurous than we might have been on marketing initiatives. As we have a small budget for marketing, we cannot afford to waste it. So we have stuck to avenues that have proven they work for us, and which we have data from which we can predict sales, making it easier to forecast stock needs. We have not felt this was the time to try anything too groundbreaking or unproven.” What makes Jo’s success even
more of a triumph is that all these challenges were faced with no
16 Gifts & Housewares
previous retail experience. It is testament to her sheer determination and initiative that she managed to move from PR into retail at a time when many experienced retailers were crumbling. Jo reflects, “The move was a very steep learning curve as very little of what I had done whilst in PR was directly relevant to retail. But I think if you have ever faced challenges at work, then you can move into a new industry, if you are prepared to learn quickly, put the hours in and listen. You learn very quickly when you need to, and I made sure I got some good advisors on board. But you never stop learning in business - you can always improve - and you never stop facing problems as so many things are beyond your control. If someone had listed all the problems I would encounter in the first year before I opened Handpicked, I probably would have never set it up, but I am so glad I did.”
The business now has six full time employees at its head office, as well as operating a call centre and warehouse, and bringing in consultants when needed. Plans for 2011 include
diversifying into fun and novelty gifts with the new sister website
www.funpicked.com. Jo says that this move will enable them to sell a range of products that the team loves and thinks customers will enjoy, but which wouldn’t really sit
with Handpicked’s brand identity. She says of other plans, “We want to continue to grow whilst maintaining an outstanding customer experience. We would also like to expand the number of own-brand products that we have manufactured to our own requirements.” She says that prices will have to be put up to incorporate the VAT rise, but hopes that having implemented a two- year price freeze the price points will still seem great value. Whilst the tactile and impulse elements of high street shopping help safeguard the strong bricks and mortar gift retailers, consumers are becoming increasingly short on time, and that stands Handpicked, which in many ways does the shopping for them, in good stead for the future. The panel and blog keep shoppers engaged and visiting regularly, and by capitalising on the power of the media, Handpicked has instant credibility, effectively corroborated by customer reviews. As a great example of how thinking outside the box can help retailers secure sales, it could provide you with food for thought as we approach the New Year. For more information visit
www.handpickedcollection.com
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