To Anuga And Beyond…

Speciality Bites with

Paul Hargreaves

Chief executive of Cotswold Fayre

• Becoming a B Corp
• Top trend predictions for Christmas 2021
• Self-sacrifice: The importance of building a leadership legacy centred on others
• Undercover Boss
• Can/should bosses really be close friends with their staff?

This time last week I was at what is known as the biggest food show in the world – and certainly if the number of visitors was anything to go by it seemed to live up to its billing.

I have never been in a football crowd type jam to get into a food show, and this on a Sunday morning.  There were even ticket touts outside the door! 

In previous years I have baulked at the idea of a second trip in a year to Cologne (always going to ISM in January) as it is generally an uninspiring and exploitative place, with hotel rates being quadruple the normal simply to fleece those attending the show.  However, this year I felt I should go and wasn’t disappointed.  I had useful meetings with a number of existing suppliers it was a good use of time, but not only that seeing the innovation in the food sector throughout the world at one event was inspiring.  Also to see what other wholesalers were doing in France and Germany made me realise what a long way we have to go at Cotswold Fayre.

Coming back to the UK after a feverish time in Germany I was greeted on the news with the record unemployment figures – more people are out of work now since 1994. Throughout this recession I have constantly said our sector has not been affected – indeed at Cotswold Fayre we seem to have benefitted, always being 20% or more up each quarter on the previous year’s equivalent.  I have noticed in the last couple of months a few signs that we are beginning to feel the pinch.  Not really in turnover levels – although the last quarter showed less than 20% growth, but in two areas – payment and penny-pinching!

Our customers are taking longer than ever to pay, and the excuses to not pay seem to be getting worse. Our average payment time is 5 days longer than a year ago and 10 days longer than 2 years go.  In a business of our size that makes a massive difference.  Our suppliers are being less flexible than ever and our customers slower to pay than ever.  It’s not a good combination and I know most of us in the sector are experiencing the same.  There is no real excuse for retailers to pay at 75 days when they have money in their till when the customer buys something rather than having to invoice them and wait.  It is time there was a more united front and we spoke out against late payers.

Secondly I have noticed more customers ringing and asking for credits for the tiniest things.  Until recently if there was a broken packet of biscuits within a case the retailer opened the packet and used them for tastings for their customer’s benefit.  And some good retailers will still do this.  However we have found recently credits being requested for the most ridiculous things.  We recently had a customer refusing to pay their monthly account of over £750 because they were still waiting for a 61p credit!  Surely the time they spent on this 61p was worth more than 61p – if not we are all in trouble!

Another Cotswold Fayre Connect event this week – in Oxfordshire, where we are pleased to welcome customers from that area to a tour of Wessex Mill, and to a talk on using social media to benefit their business.  If I don’t’ see you there, have a good week.