With the highly publicised collapse and subsequence investigation of BHS still ongoing, some experts are concerned that more stores may be set to follow suit. Here, GB Marketing Enterprise investigates if the face of the high street could soon change forever.
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Last month on 2nd June 2016, it was announced that an accelerated insolvency service investigation of British Home Stores (BHS) would be undertaken as a result of the company’s entrance into administration six weeks earlier. GB Marketing Enterprise, an outsourced event marketing and promotions firm based in Cardiff, says that the closure of BHS could have vast consequences on other companies and shows just how unpredictable business can be; even for well established brands. Over 160 BHS stores are expected to close in the coming months and for many of BHS’s suppliers this will have a major impact. In fact, the chain of liabilities is estimated at £1.3billion. This means that hundreds of small businesses are likely to be left out of pocket.
GB Marketing Enterprise finds that - based on similar situations in the past - the closure of BHS could create a threat for many brands. “BHS suppliers may expect a lowered footfall over the coming weeks,” explains a spokesperson of GB Marketing Enterprise. When Comet collapsed in 2012, it owed over £0.9 million to its suppliers. One of them was Scottish freezer manufacturer Icetech. The firm had to cut half of its employees and never recovered from such drastic measures.
Cardiff-based firm GB Marketing Enterprise raises brand awareness on their clients’ behalf and promotes and sells their products and services at retail events. “We believe that event marketing is a fantastic method to help increase footfall and bring more life back to the high streets,” says a spokesperson of GB Marketing Enterprise. In today’s fast paced market place, businesses must re-evaluate their products and services constantly and use effective methods to raise awareness. Event marketing is flexible in its approach, location and target audience and is cost-effective at the same time.
GB Marketing Enterprise has increased their clients’ sales by over 34 per cent in Q2, compared to the first quarter of the year. The firm adds: “We go where our clients want us to be represented. We can change location even on a daily basis if our clients want us to raise brand awareness in different areas.” GB Marketing Enterprise meets with consumers on a face-to-face basis. In their unique and personalised approach they listen to every single customer and pass on their feedback to the relevant clients immediately. As a result, negative comments can be investigated, followed up straight away and action can be taken accordingly before it is too late.
Based on their current success, GB Marketing Enterprise has been asked by their clients to open up and represent them in further markets later this year.
Press release distributed by Pressat on behalf of GB Marketing Enterprise, on Thursday 7 July, 2016. For more information subscribe and follow https://pressat.co.uk/