Time to put things into new perspective

25 Feb

This was not a good month for many  young fashion and mid market retailers who have suffered a big sales slump, infact this month has been named ‘shocking February’ by many of the young fashion chains as customers are only spending on discounts and promotions. In fact, New Look has appointed former M&S and Primark product guru to shake things up after the sales slump the high street shop suffered.

Ok, retailers are taking it too far now, not only is the current financial backlash still in the air, from my recollection, product prices have gone up incredibly (yes VAT has gone up) but, if you want customers you’re gonna have to do better than that. for example, River Island does NOT even offer student discount knowing that the majority of their target consumers ARE students which is why RI is such a publicity shy retailer. Arcadia Group on the other hand offers 10%, sometimes even  20% discount some of their stores, which is good, however still not enough! this ‘Shocking February’ will continue if you don’t change your attitude!

The thing that shocks me the most is that, if you look at some of the product’s fabric specification or the COO and look at the price, they do not even match! they make clothes for soo soo cheap and elevate the Retail Mark-up soo high. I understand, obviously there has to be a profit, which is the main key however when people are cutting on their spendings, why would they spend an incredible amount of money on clothes? students are NOT made of money!

one good news though, when the clothing market was too busy getting hit with the sale slumps, the footwear sales rose 3.4%! yes that makes me happy, especially as a future potential foorwear designer or buyer. Yess people, spend on shoes and mix and match your outfits! shoes complete the look after all (in my opinion).

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