Nabco Begins New Financial Year: Another Chapter of Growth and Innovation
As we begin a new financial year, here at Nabco, we are delighted to announce annual growth of 27% in the year that has just drawn to a close. We are pleased to have achieved such monumental success despite the supply chain crisis that gripped the world and continuing COVID-19 restrictions. We cannot thank our loyal customers enough for continuing to place their trust in us and enabling us to fulfil our mission to transform the retail landscape in the UK and Ireland.
Continuing to uphold our promise to deliver innovative, high-quality and cost-efficient retail solutions at market-leading velocity, we are introducing brand new, state-of-the-art product ranges from our partner Modern Expo that is now available to pre-order.
An advanced last-mile delivery solution, Loko Logis provides full-size multi-optional parcel lockers that are suited for a broad range of uses. Together with an array of accessories, they allow for the creation of truly unique configurations to fit your infrastructure. Designed for both indoor and outdoor use, they are secure, adaptive and work round the clock. Loko Local is our range of personal parcel lockers that can integrate into any space.
We are also introducing Evo Seline modern checkout counters that allow for a streamlined integration process in retail. Meeting strict ergonomic requirements and adaptable to fit shops of different sizes and formats, they include a promo screen to provide for seamless communication and a compact device for hand disinfection.
As a climate-conscious organisation dedicated to doing our part to achieve net-zero carbon retail in the UK, we are thrilled to present our new line of refrigerators that meet EU energy efficiency requirements. Equipped with vertical multidecks in keeping with the latest trends and refrigerated counters to suit different types of products, they are designed to provide maximum innovation and efficiency.
We are also bidding farewell to our Sales Director Ryan Willis who has played an important role in driving the organisation forward. A good friend to Nabco for over two decades, we are sad to see him leave and wish him the very best as he charts a new journey in his life! As Ryan retires from the management team, we have placed renewed focus on our sales team, reengineering the structure and functionality for greater adaptability and superior service in this brand new global landscape.
Last but not the least, it would be remiss to not thank our team here at Nabco. Every individual plays a pivotal role in driving forward our business with commitment and passion and ensuring the fantastic success that it achieves year after year.
We also thank our business partners who through emerging global challenges continue to impress with their innovation, professionalism and customer service
In closing, I would like to reiterate that at Nabco, we are driven by a purpose to drive innovation, deliver world-class quality at speed and transform the future of retail in the UK and the world.
Leading the Transformation of the Retail Landscape
At Nabco, we are driven by purpose: To elevate the retail industry in the UK by providing novel, high quality and future-ready solutions.
We ensure to always be one step ahead of emerging developments and trends in the retail landscape – across its many sectors – and deliver modern solutions that give our customers a competitive edge. Together with our partners Modern Expo, our team of exceptional professionals are not afraid to reimagine the future, delivering innovation, transformation and immense value to our clients at market leading velocity.
The retail industry in the UK consists of over 300,000 separate businesses worth over a collective £400 billion in annual sales. As new players enter, emerging players grow and established players innovate into untapped sectors, the industry as a whole is set to display steady upward growth. Here at Nabco, we are committed to serving customers of all sizes and offerings. By eliminating long lead time, we enable them to complete their projects within required parameters at record speed. In the near future, we will also be introducing a new range of products set to transform the retail landscape for the health, beauty, pharmacy, produce, bakery, pet care, DIY and FMCG sectors across the supply chain, from storage and warehousing to display and sale.
At Nabco, we are responding to the urgent issue of climate change by doing our part to achieve net zero carbon retail in the UK, transitioning to more sustainable processes and products that meet customers’ emerging needs. Our products are manufactured following eco conscious principles and can be easily recycled.
As we near the end of 2021, I look back on what started as a very challenging year with the pandemic and national lockdown, but is ending as the most successful year in our company’s history.
We started the year still navigating the challenges of the COVID-19 pandemic. With the country in lockdown, many businesses such as ours had to adapt their working patterns and business model. We had some of our employees on furlough with the biggest challenge we faced being importing stock from China.
There were exceptionally long lead times, almost double previous times, impacting our ability to deliver stock and potentially effecting our customers’ project deadlines. In addition to this, steep rising and inflated shipping costs led to us being in a situation where costs either had to be passed on to our customers or absorbed by the business. With already tough financial circumstances, I knew that we had to find an alternative European based manufacturing partner.
In summer, as the UK came out of lockdown, we started seeing a strong pick up in business, with us achieving in July, our single biggest revenue month in our history. This was achieved by exceptional hard work and commitment from all our staff. I continued to work with my team on solving the issue of delayed imports from China. In August, we announced our partnership with Modern Expo, as their official UK and Ireland distributor.
Based in Ukraine with distribution centres across Europe, partnering with Modern Expo was designed to benefit our customers by providing access to fast, reliable 24–48-hour order turnarounds. We were also looking to the future as an organisation, and Modern Expo’s broad range of high quality and innovative retail solutions would allow for wider market opportunities and growth for our customers.
The second half of the year saw continued growth as the retail sector and economy started to rebound and the benefits of our Modern Expo partnership took hold. In October, we onboarded a record twenty-seven new customers in a single month. This along with the on-going loyal support from our existing customers and partners helped us drive historic sales growth month on month. As we grew as a business, our Nabco team also grew with additions to our operations, sales order process, finance and warehouse teams.
Last month saw the retirement of our Founder and Managing Director Nigel Bass, and the announcement of a new management team led by myself as Nabco’s Managing Director. This is a new beginning for Nabco .
2022 will see some new, exciting changes and announcements from us. Watch this space! My goal for the coming year as Managing Director is for us to continue providing first class retail products and solutions. This will be accompanied by the outstanding and industry leading customer service and support we are known for.
We will work with and support our customers and partners to create new market opportunities to grow their business through our partnership with Modern Expo. The retail landscape is changing, and we aim to provide a range of high-quality retail solutions that will allow the creation of modern retail displays and environments.
I want to conclude by offering my sincere thanks to you to all our customers. We wouldn’t have enjoyed the success we’ve had without you. Thank you for believing in us and your continued support. I also want to specially mention and thank our partners and employees, for your support, hard work and dedication this year. We look forward to continuing our successful association in the new year.