On its second day, Source Home & Gift, the top global sourcing platform for home and gifts, carried on with its mission to become a force for good in the retail sector by offering a space where new relationships, concepts, and opportunities are realized. ALDI, B&Q, Lucy & Yak, Ocado, Sue Ryder, House of Marbles, Widdop & Co., Cardology, RSPCA, National Trust, Amazon, Blue Diamond, Tik Tok, Card Factory, and many more are among the notable attendees of the show today.
“The definition of Source is ‘where things originate,’ and we believe that creating beautiful, well-made products begins in partnership with the people you source from,” explains Suzanne Ellingham, Event Director at Source Home & Gift. Our goal is to facilitate the creation of attractive, ethically produced items by the retail industry by bringing reputable manufacturers and craftsmen from throughout the globe to the NEC Birmingham. We support ethical and environmentally friendly manufacturing practices, highlighting exhibitors that uphold these ideals and share their inspiring tales. Here, producing goods of the highest caliber and conducting business well go hand in hand.
“Our goal is to unite manufacturers who are concerned about the production process with creative makers and artisans who have exceptional craftsmanship and uniqueness, as well as the global sourcing community under one roof.”and putting them in touch with merchants and brands that want to collaborate with companies whose values coincide with their own and seek to buy and source superior products. Source Home & Gift is the place where style and responsibility collide, relationships blossom into teamwork, and your ideas and vision may come to life.
Over 400,000 independent retailers—from independent department stores to tiny pet shops—are represented by the British Independent Retailers Association (BIRA) across the United Kingdom. “We know customers want to be more conscious and responsible in their purchasing, and they also expect the businesses they use to lead by example, so we want to help those businesses,” said the company’s CEO, Andrew Goodacre, who was in attendance. Source Home & Gift effectively connects merchants and suppliers, assisting all parties in comprehending the route involved. As I strolled around the halls, I was struck by how beautifully and creatively made the gifts were. To any retailer trying to figure out how to set themselves apart from the competition, I would advise them to —Visiting Source Home & Gift is a must-do! I’ve had some really insightful conversations and met a ton of extremely talented ethical producers. I’m aware that when I depart, I’ll wish I had done more and learnt more. I shall return the following year for that reason.
Because their missions are so similar, Lesley Kennedy, Retail Development Manager at the RSPCA, and Fran Vallely, Shop Manager at the RSPCA, frequent Source Home & Gift. “We sell new goods in our charity shops to raise funds for the RSPCA.” We value your visit to Source Home & Gift much since we are constantly searching for innovative and fascinating products and new suppliers to fulfill the demands of our clientele. It is crucial that we make an effort to be ecologically conscious and that we source products that won’t damage the environment. Since we are a nonprofit, being a part of the green and circular economy is fundamental to who we are and how we operate. It is therefore incredibly wonderful to be able to locate fresh providers who share that viewpoint.
Throughout the day, the show floor continued to provide positive feedback. Produced with pride in Portugal, Bioneurodesign made its premiere at Source Home & Gift, showcasing pieces that perfectly capture the rich history and skill of the area. “We decided to come to Source Home & Gift because we wanted to showcase our new range of products to the UK market, and we knew this provided an excellent opportunity to do that,” stated Bioneurodesign CEO Julio Felix. With the display still ongoing, we’ve already generated some excellent leads!
The Responsible Sourcing Stage persisted in offering talks intended to elicit imagination and discussion. The Responsible Retail Stage Seminar program at Source Home & Gift was introduced by retail consultant Ian Scott with a talk titled “The Merging Roles of Technology & Humans in Retail.” Examining how physical retail has changed since COVID and the special qualities of in-person shopping as the hub of retail ecosystems that deliver experiences that are not possible with digital technology. “90% of retail is understanding human behaviors and 10% is product,” said Ian, “the Intention Action Gap of what we say and what we actually end up doing has never been more prevalent in retail.” Scott continued, “Human-technology collaboration can yield the most effective retail solutions.” Consumer buying decisions will always be influenced by emotion.
Human interaction is ingrained in our DNA. We also know that Touching Points boost sales and that physical stores are more appealing to customers than online ones because of their linear, binary design. In many businesses, traditional retail views employees as an extra expense, but in reality, your employees are the live representation of your brand. Technology and in-person retail are going hand in hand in the future to provide a smooth shopping experience. One technological innovation that has received a lot of attention is Retail Media networks, which allow businesses like Tesco and Walmart to use their screens for advertising. According to preliminary estimates, the proceeds from this might match the amount they spend on their own advertising. But pay attention—this isn’t a no-brainer.
Retail 100 Consulting’s Regional Intelligence: How to Source in New Regions and Optimize Your Sourcing Strategy presentation was hosted by Sara Allbright, Co-Founder and Director. “There are many considerations and decisions to make in order to build a profitable sourcing strategy. This can be an overwhelming task if you’re just starting out on your sourcing journey, especially if you want to make more ethical and sustainable business decisions,” the speaker stated. Blended margin, cross-plant costs, container fills, exchange rates, quality control, and efficient communication are all factors to take into account while aiming for profitability. Research is essential, especially when comparing the regional subtleties of the near and far shores. Source Home & Gift is a fantastic place to start.There are other priceless advantages to Near Source nations in Europe and Turkey, such as the ability to handle lower volumes, shorter lead times, and more customizable freight alternatives. Cons include the possibility of more specialized fabrications, which raises the price of certain materials and embellishments. Far Source nations, which are mainly found in Asia, have factories that are designed to operate at bigger quantities with less expensive labor and materials; yet, this results in longer lead times and a focus on sea freight.
“You also need to think about exit strategies, what happens at the conclusion of the product lifecycle, and, worst of all, what happens if the product doesn’t work out well as a seller. Is your intake margin sufficient to sustain a reduction in price while maintaining profitability?What would happen if you tried to cancel your contract with the factories? Would it even be feasible to purchase more given the lead time?
How brands and suppliers may collaborate was explored at the Fireside Chat: Transparency and traceability – guaranteeing sustainable practices across the complete supply chain with Andrew Goodacre, CEO of BIRA, and Smruti Sriram, CEO of Bags of Ethics. An explanation of supply chain transparency was given at the beginning of the session: “Everyone in this room has an entrepreneurial dream; they want to make money and launch a product.” That can’t happen. How can we balance responsible purchasing with growth? It basically affects every link in the chain, including the farmers, weavers, shipping, retail delivery, how a product is presented online and in stores, how it is given to the customer, and what the customer does with it.What happens to it as its life is coming to an end? A supply chain involves thousands of individuals, and each component needs to be carefully examined, according to Sriram. “Having boots on the ground is the real solution to transparency and traceability.” Many larger retailers are currently attempting to automate this process, but doing so can separate you from the reality of the people who work in the supply chain; you can only learn about this by visiting a factory or farm; human interaction is what builds relationships and establishes trust. You’d be surprised at what frequent video chats may accomplish, even though for independents this may seem easier said than done.Make sure you do your research and ask your suppliers to provide you with an online tour of the factory. It is crucial to have this fundamental trust in order to guarantee sustainable practices.
Goodacre continued her questioning, “How can brands and consumers cut through what sustainability means?” in light of the confusing and copious jargon and legislation. To clarify, Sriram said, “Being educated is not offensive. Never feel technically mesmerized by lots of terms. Don’t be afraid to ask the basic questions.”
“In sustainability circles, this is all such common language, but retailers are ‘green-hushing,’ meaning they’re not talking about the good work they’re doing, because consumers aren’t educated about sustainability,” the speaker went on. Here’s where marketing comes into play; highlight excellent work. In the end, using less is free, but innovation is on the way to make sustainability more affordable for all consumers. One example of this is the new EU Digital Product Passport, which is legislation that makes traceability more visible.
Today, Anna Berry from Retail 100 will be speaking on “How to source and range new product categories – toys, candles, ceramics, and home textiles” at the Responsible Sourcing Stage. Berry will discuss how to source certain products, comprehend the dangers involved in the supply chain, where to acquire the necessary products, and how to develop your strategy. Attend the event with UK FCDO policy officials to learn everything you need to know about the Developing nations Trading Scheme and how you can benefit from new legislation that lowers or eliminates import taxes from 65 developing nations.
There is still time to sign up at www.source-homeandgift.com to attend.
Source Home & Gift will be held at NEC Birmingham from September 1st to 4th. To learn more, go to www.source-homeandgift.com.
