Last week, we looked forward to the opportunities and challenges ahead in our annual conference, like we do every year. Unlike every year, this conference was delivered virtually and we presented or watched in isolation.
It was a shame we couldn’t hold the conference in person as it’s always a highlight for me to meet up with so many people from across the business. However, I think everyone made the best of the situation and the important messages we needed to communicate came across in an enjoyable and engaging way over three days of sessions.
We began, of course, with some reflections on 2020, a year that nobody could have anticipated. We all know how difficult it was, whether you look at it from a business, health or emotional point of view. But we pulled together and showed how resilient we can be individually and as an organisation. We ended the year in a much better position than we could have dreamed of in April.
However, despite an excellent performance in the circumstances, we lost share for two key reasons: product availability and our channel mix. The effect of the former is obvious. To explain the latter, essentially, we are stronger in areas which were more heavily impacted by lockdown and under-represented in areas that thrived, such as DIY and online shopping, or “e-tail”.
What we need to do in 2021 is to accelerate our existing strategy of “Reinforcing the Foundations and Building New Strengths”. We need to protect our core specification business but continue with the channel broadening which has seen us develop our presence in e-tail and retail over recent years. This was presented in the conference as developing core strength and building flexibility, and this links nicely with the themes of health and wellbeing, which are a key focus for us in 2021 and beyond.
You may have seen the various wellbeing resources being circulated recently by HR. These will be expanded on over the coming weeks and months, and I encourage everyone to take advantage of what is on offer. Looking after our mental and physical health is going to be crucial to getting through this latest lockdown and coming out the other side, ready to seize the opportunities ahead. For me, this includes things like always eating lunch away from my desk and taking a walk every day. I’ve set myself a challenge of walking every street in my village by the end of this lockdown. It’s important that everyone finds something that works for them.
In terms of the key projects and initiatives for 2021, there’s a lot to look forward to. A major investment in the Armitage Distribution Centre will enable us to be more efficient and offer improved service to our customers. This year will see us really leveraging SalesForce to drive our specification business further forward. We also have some incredibly exciting new product introductions, including the Atelier Collections, and a range of initiatives to increase our share of the e-tail and retail markets. There is far more planned than I could possibly cover here, which is an excellent position to be in.
As I write this, the Prime Minister has begun to give the first indications of when this third lockdown might come to an end. We know things are going to get better eventually but we also know there will be some more bumps in the road. We need to continue to show the resilience that got us through 2020. We can be confident because we are in a much stronger position as a business now than we were in lockdown one. The factories that were closed last spring are this time working seven days a week. We also know how to navigate lockdowns, even though many of us are still dealing with the many difficulties COVID-19 has brought, and we can finally see light at the end of the tunnel.
I look forward to working with you all in 2021, regaining share and stamping our authority on the market. Take care of yourselves.
Dave.