I hope you all had a wonderful Easter – whether you were relaxing at home after a whirlwind first quarter or working hard in-store. Thankfully, it looks like High Street footfall was significantly up over the Easter weekend. I went into our local town centre on Saturday, and it was absolutely heaving – comfortably the busiest trading day since the week before Christmas. Posts from retailers on LinkedIn suggest a similar pattern across the UK. Of course, it was payday for most people just before Easter, which undoubtedly helped; I think we may see that ‘payday bounce’ (and perhaps a subsequent tailing off as the month progresses) become a more regular occurrence this year. Financial pressures are arguably easing (albeit slowly and slightly), but I suspect the average family still has to juggle expenditure from one payday to the next.
Suppliers will also be heartened by the gradual improvement in freight rates. There were genuine concerns at the turn of the year that the Red Sea shenanigans would have a long-lasting impact, but rates continue to fall, especially if shipments aren’t urgent. Those prepared to accept slower sailing times can take advantage of better prices, which may help some companies in the next few months. We will just have to hope that everything is resolved before the more time-sensitive fourth quarter, when the delayed arrival of products can be infinitely more problematic for both suppliers and retailers.
Meanwhile, as this year slowly shifts into gear, spring summer previews for 2025 are already underway out in LA, and the next few weeks will see an increasing number of suppliers and retailers heading to California to start planning for next year. I gather that only a handful of UK retailers will be making the trip this month, although a far larger contingent is expected in September. However, a degree of confusion still reigns – last week alone, I was contacted by three separate UK retailers asking questions about the September LA trip.
For some reason, they seem to think I’m the man ‘in the know’. If only. For what it’s worth, my sources suggest that the main ‘UK retail’ week looks likely to be 16th-20th September. That said, one very large toy company with its offices in El Segundo appears to be asking UK retailers to come the following week, 23rd-27th. Not only does this potentially prolong the trip for the buyers – who presumably want their visit to be as time and cost-efficient as possible, and two weeks in LA constitutes neither – but that second week also clashes with BLE in London. So, if what I have been told is true, and the company in question doesn’t reconsider its timelines, some buyers will have a big choice to make.
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