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July 8, 2009

Tendence Notes: A Visit to the Season’s First Trade Fair

I am sitting in the departure lounge of Gate 46 at Frankfurt International Airport waiting to board my flight home. I have spent the last four days visiting Tendence, Messe Frankfurt’s annual fall consumer goods show. During that time I’ve seen a lot of product, learned from guided tours on design, and had the chance to do a little sight-seeing and shopping. Getting an invitation to attend an international show is a real privilege. It’s also a great opportunity to gain some perspective on another part of the world, the industry and retailing.

I stayed at the Sheraton here at the airport during my visit. This morning, when I checked out, I asked the clerk how many people stay there each year. She didn’t know the answer but did say that they were averaging around 600 a night these days. I thought that was pretty good until she added that the hotel has 1,000 rooms and the business they’re doing “just isn’t really enough.” Yesterday, I visited the Zeil, Frankfurt’s main shopping strip (like Yonge Street in Toronto but nicer as it is a pedestrian promenade). The store windows were emblazoned with sale signs: twenty-five percent off; 50 percent off; and in one case, 90 percent off. Granted a lot of the deals were on summer clothes but still it reminded me that retail the world over has been hurt by what many people here refer to as “The Crisis.”

“The Crisis” was felt at the show too. I have no numbers but there weren’t nearly the people in the aisles there have been at the previous editions of Tendence I have attended. In addition, booths were smaller and would say that there were fewer exhibitors, though it’s still a very big show. And, it’s no surprise that there were companies lamenting the lack of traffic. However, several exhibitors I spoke to were encouraged by the quality of buyers they were encountering. Those people who did attend the show weren’t tire kickers.

But, opportunity knocks regardless of whether the economy is up or down. One of the great things about Tendence and its sister show, Ambiente, is the support given to design students, artisans and new companies. Specific sections are devoted to them (i.e. Next and Loft); there are special exhibits showcasing projects from design schools; and the juried Talents segment gives free space to up-and-coming designers so they can experience the show and make contacts with companies that may be interested in manufacturing their products. I think it’s all great, and I wonder why, as an industry, we aren’t doing more to support and encourage young artisans, designers and retailers. Perhaps it’s time for our shows to host some special exhibits. Maybe a Retailer Under 30 Award?

The plane is ready to board. Here are the links to stories and slideshows I did while I was at the fair.




Posted by Lori Smith on July 8, 2009 6:04 PM | | Comments (0) | TrackBacks (0)

July 13, 2009

How's Your Quality of Life?

This morning I took a minute to go through a stack of papers that has been sitting on a corner of my desk for some time. In this stack, I came across a press release on a survey conducted by Ipsos Reid on behalf of American Express late last year. This survey revealed that "despite stress, time commitments and financial certainty, 92 percent [small business owners] say there are more rewards than downsides to running their own business." Given the ongoing economic turbulence, I thought that was an interesting result.

In fact, on the whole, I was surprised by the survey's results. Here are some of the findings presented in the release:

* Nine in ten (89%) "agree" (31% strongly/52% somewhat) that "since they started their own business, they have enjoyed a better quality of life."
* 91% indicate that there are more rewards than risks associated with running their own business.
* 93% says that they would do it all over again.
* 62% says that it's the independence and control that keeps them motivated to stay in business.
* 41% suggest that the potential financial gains and profits motivate them; others say it's simply loving the work that they're doing (29%), their personal drive for success (22%), a commitment to their employees and customers (21%), encouragement from family and friends (3%) or a fear of failure (3%)
* 78% of respondents "agree" (26% strongly/52% somewhat) that running their own business is "stressful."
* 65% have a "wary and cautious" attitude when it comes to the current state of the economy.
* 68% "agree" (strongly 22%/somewhat 46%) that they worry about their future financial security, such as pension and retirement, compared with just 32% who "disagree" (11% strongly/21% somewhat).

In addition, the survey reveals that 98% of small business owners "agree" (68% strongly/30% somewhat) that the independence and control to make their own decisions is rewarding; 88% agree that they are able to do the work they most enjoy; and 55% agree that they would "never work for anyone else again."

The gift industry is built on small businesses--on the retail and supplier side. Do the results of this survey reflect how you feel about your business? How's your quality of life?

Posted by Lori Smith on July 13, 2009 2:38 PM | | Comments (0) | TrackBacks (0)

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Lori Smith, , Editor-in-Chief
Lori Smith is the editor of Gifts and Tablewares, Canada's premiere gifts and tablewares magazine. Written for retailers of gifts, tablewares, housewares, stationery and home furnishing accessories, its objective is to help readers increase their sales and run their businesses more profitably by providing information on new products, merchandising, small business management, customer service, consumer behavior and industry news. The magazine is published six times a year by BIG Magazines, LP, a leading Canadian information company.

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