AFTER THE BOOM: A gift and award shop has responded to the changed market and negotiated better deals. Now it is busier than ever
PROACTIVELY SEEKING out new clients has helped boost revenue to higher levels than last year for Designyard Corporate Gifts and Awards in Dublin.
The Nassau Street retailer, which supplies contemporary sculpture, corporate gifts and custom-made awards, was launched in 1994 by trained accountant Gerry Crosbie.
He says turnover at his business, which employs six staff, has jumped 5 per cent this year on the back of efforts to expand its client base from September last year.
“We saw the difficulties on the horizon and so we actively went out to generate new business. I would say we have increased our client base by 10 per cent.”
“All of this has meant, thankfully, that despite the overall economic climate, we are actually growing our client base.”
Crosbie also has a diamond and high-end jewellery business called Designyard located in the store.
He says consumers are still spending, but are purchasing lower-priced items. “In line with the decline in consumer spending in the economy generally, companies have pared back on budgets. This often means meeting needs at a lower spend,” he says.
“A company that has used a more expensive metal like silver may now choose glass or ceramics instead.”
However, he admits there is still a demand for more expensive pieces, despite the economic downturn.
“What people want is something that is handmade, customised and value for money. We are in the fortunate position of having a deeply loyal clientele built up over several years and they frequently recommend us to other businesses.” He says the biggest challenge facing the operation is controlling the cost base while maintaining high standards of customer service.
In January, in order to cut expenditure, he reduced part-time staff numbers from three to one, began to negotiate better deals with service providers, and postponed planned marketing drives until next year.
Tell us your story at aftertheboom@irishtimes.com
