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 IGD’s annual wholesaling conference took place in late September, as one of the most dramatic economic crises for many years hit Wall Street and the world’s other financial centres.
So it was no surprise that the crisis and its potential impact on the wider economy, including the wholesaling sector, was a persistent theme of the day.
Responding to the big picture
IGD’s chief economist James Walton gave a detailed picture of the state of economy and the likely ramifications for the wholesale sector. While acknowledging the seriousness of the situation, many of the contributors did see some potential upsides for their own businesses. Steve Barnett, Costco trading director, had remarkable examples where strategic early buying by Costco was providing strong inflation-busting value to its customers and providing remarkable growth in otherwise mature categories.
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| The economic climate was the backdrop to this years conference | |
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Key strategies for current and future success were a major theme for presentations, with Pradip Dhamecha revealing the simple recipe that has kept his cash & carry businesses growing within the M25, one of the most competitive markets in the country. Pradip’s secret, found in the ‘Dhamecha DNA’, consists straightforwardly in doing the basics right and nurturing every customer, to develop their businesses and build their relationship with Dhamecha.
Recovery and change were also key themes for the day, with Charles Wilson, chief executive, Booker updating the conference on the progress of the turnaround at the UK’s largest cash & carry business; bringing the clear sense of purpose within the company to the stage along with the promise of further forward momentum for the future.
Paul Hagon, managing director – sales, P&H McLane, showed how an extensive strategic refocusing, with increasing emphasis now being given to customer responsiveness and the key demands of consumers, has now positioned the business to capitalise still further on the unparalleled scope of its market capability and reach.
Working together for success
Many speakers paid tribute to the support that they receive from their suppliers, and reinforced their commitment to a fundamentally branded offer as key to the wholesale channel. John Searle, trading director Landmark Wholesale flagged up the growing importance of collaboration in the way the buying group does business, as embodied in its joint business planning process, and illustrated this with examples where the collaborative approach has produced striking sales successes.
The increasing importance of the support packages that wholesalers bring to the independent retail sector featured in many presentations, and none more so than that of James Hall, business development director at Bestway. Bestway’s Best-One store package has been part of a significant trend towards improving standards of retail discipline and shopping experience to the market. James flagged up the striking fact many Best-One stores are new-build operations, helping bring ‘new blood’ to the sector.
Looking ahead
Looking to the future was the theme of Rodney Hunt’s presentation. In his last IGD presentation before he retires as managing director of the Today’s Group in March 2009, Rodney took the opportunity to consider what the future might hold.
Despite the economic gloom, the sector continues to innovate and adapt to build upon its traditional resilience as a route to market for FMCG suppliers. Keep your eyes on IGD.com for the line-up for the 2009 event in the spring.
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