August 2010 Issue

Walking the aisles of the Summer 2010 New York International Gift Fair drove home the impact of the economy on consumers.

Consumers are returning to the marketplace, but their needs have evolved and “value pricing” is not the only thing on their minds.

A gift, or really any purchase, has to do more these days. Consumers want products that are functional, but functionality is not enough. An item must be beautiful to behold, an object of art. The next quality to add to the list that consumers want is eco-friendly. And let’s wrap that all up in a great human- interest story.

I had more than a few conversations at the show discussing the consumer who wants to “simplify,” with more quality, less quantity. If a purchase is made, consumers are more mindful in their selections, seeking the beautifully functional item, that’s very existence embodies eco-friendliness and social responsibility.

Now every item may not be able to live up to this standard, but specialty retailers are in the best position to seek out these multidimensional products. There were 1000’s of products at NYIGF that would meet the test of the evolving consumer. We’ve highlighted many of these products in our NYIGF wrap-up section.

Maybe it’s just that the definition of “value” is changing. I received a newsletter from a local specialty food store last week, explaining why their eggs were a real value at a dollar a dozen more than those you might find on the grocery shelves. The value was in the knowledge of exactly which local farm provided the egg and that, had you purchased those eggs, you were not checking serial numbers on the carton to see if they should be destroyed due to the recall. How’s that for value?