Less Stock, more casual items & chain transparency
During the last 1,5 years many of us have developed new items, new segments and new ways to interact with their customers and business. The other trends are sustainability and slow wear. The world must change. Fast Fashion seems to be cheap for now but is a burden for mankind. Slow Wear is however the history and the future for garments. Gentleman like to dress timeless, effortless, and therefore the British ‘fashion’ is never out of fashion. Made to order and Made to Measure is the future for fashion.
Retailers are struggling to get rid of their stock of last year and making margin. Last year only 50% of the stock was sold for regular prices. It resulted in an average mark up of only 2.0. More and more retailers are focussing on MTO, MTM and bespoke because that makes them more flexible, customer oriented and margin driven. Adding service gives the opportunity to calculate differently. A mark up in MTM of 2.8 is just the beginning. Corrected with some failures you still have a mark up of 2.6 with a little more work and less risk.
Building your Brand
As a retailer you want customers to think about your shop as they think about a new item in their wardrobe. You are part of the solution. Moreover consumers are looking for experiences and seamless experiences. If done right with MTM you can do this iof you don’t overpromise but overdeliver and manage the expectations. This can be done with good samples in your shop (that can be sold after a season. This has two major advantages you can build your own brand and have people choosing your style/shop and you limit the amount of stock in your shop. Win-Win. The only thing that can’t be taken away is the instant satisfaction for the consumer (and sometimes retailer depending on when to book the turnover). But let’s be honest. You should build your business in the long term not with a short term vision.