Wallace & Co. in 2020
Overlooking an apple orchard in Kent I sit and ponder how to tackle the new set of challenges, in building a tribe, an audience and our very own Wallace & Co. communication channels.
Self doubt creeps in, aren’t there enough blogs, Youtubers and Instagramers out there, does the world really need my voice added to it ?
These are some of the questions I ask myself but the answer always comes back to, what's the alternative? The alternative is to be left behind by the ultra high speed train of the internet of things in relative obscurity. Shouting about your product, brand or service from a soapbox on the side of the road, or handing out leaflets ( not pizza ones ) is very 90’s and so to embrace the world of technological communication and engage with what could be millions of people is where we are. So here goes.
One of my biggest challenges as a business owner is to really determine the size & scale of the brand & company that we want to build, and then defining the way to do it. With a now global audience at your fingertips the ambitious and daring side pushes your mind to thinking we can climb the industry's biggest mountains, and here's why:
- The global home fragrance market size in 2020 was 6 Billion USD and by 2026 will be 8 Billion meaning its growing thick and fast.
- The global ecommerce market in 2020 is worth 4 trillion, growing to 7 trillion by 2023.
Those are staggering growth numbers and for a fledgling brand like ours with a small but still global presence represents a once in a lifetime opportunity. So how big do we aim, how deep do we dive, what team do we need, what investment, how are we going to compete? These are just some of the questions I ask myself daily.
Here is my rationalization, it's not from a McKinsey report, or plagiarized business books, ( there are so many ) rather a recipe of intuition, blind optimism and 9 years in business.
Everybody wants their house to smell nice and look nice, that’s an easy one.
Most people like to consume healthy products. A Lot of people shop online. Easy huh? If it were, we would be seeing millions of companies starting up, there are thousands but not yet millions, so how to differentiate, can you even authentically differentiate with a candle or room spray?
My answer is yes, by design. Our strategy is as obvious as any but very hard to execute. Design is key, we are going over the top in details, from hand drawn flowers to foiled stories, it's all there and it’s what we live and breathe. We are always looking for inspiration in architecture, nature and the stars ( woo ) and it is this that we feel will take us to the next level and help us compete in the trillion billion dollar world of home fragrance and e-commerce. That’s it. That’s my first blog, a tiny insight into how we think we will proceed.
I will be covering a lot of interesting aspects in our blogs, from manufacturing, travelling the world meeting factory owners and attending trade shows to hiring staff, interviewing perfumers and being introduced to the scent of a cats testicle. Yes, a cats testicle.
We shall be launching a podcast, maybe dancing on TIKTOK. And for sure posting candle selfies on Instagram so do subscribe, click, follow, read and watch.
Dennie Wallace
Founder & CEO