Hello
Greeting from Sheffield
Yes it's true, I'm here at AW HQ :)
Last week I was telling you about Liverpool, you can read about it here.
Since then I have been in beautiful but rather damp north Wales, including a visit to Anglesey. Where of course we visited lots of gift shops. I couldn't help noticing lots of "Out" banners and not many remain.
Even so this morning waking up to the Brexit result was quite a shock.
However you voted or not, the fact is this changes things, a lot.. but we will have to wait and see just how things pan out.
Obviously we have been thinking and planning for a while, and here is my brief analysis of how this may effect we gentlefolk in the gift trade.
Firstly Imports..
For sure imports will be much more expensive, so in the longer term imported items will be more expensive. The good news is that we have had lots of containers arriving over the last month or so and really are fully stocked. So hopefully no price rises at Ancient Wisdom for a while. Don't panic.
Secondly made in Yorkshire products.
Other good news (I think), all our soaps, bathbombs, home fragrance and aromatherapy products are produced here in Sheffield, so no immediate increases, but we will have to see what happens to ingredient prices in the future. Yesterday we took a large delivery of the raw materials (bicarb and citric acid) from Belgium so we are covered for a while on bath bombs. Don't panic..
Euro Products
For sure there will be big prices, my advice stock up on.. Olive oil soaps (they are from Spain) and Church Candles (from Germany). Panic!!
I guess more people will holiday at home.. that's maybe good for the UK gift trade.
Human cost.
As you know we are a multiethnic company with employees from across the world. Exactly half of our loyal employees are in shock this morning not sure how safe their jobs are and all reevaluating whether they are staying in the UK or not. The knowledge, skill sets and huge human resources this asset represents (50% of staff) would of course be a major loss to AW. Personally (and I think I speak for the Brits in AW) I/we simply don't want to lose the friendships.. so I hope we can overcome.
Long Term..
Calm Down, have a cup of tea. Things will be fine :)
Meanwhile..
So much amazing new stock coming on stream.. all reasons to be cheerful.
See below..
More news next week as I head of to Euroland to see what happens over there..
Take care
David