Not Plain ‘Sale-ing' For Fashion Retailers
The current climate of austerity and lack of consumer confidence continues to have
an adverse effect on fashion retailers which is expected to last in to the foreseeable future. This has forced price warfare on the High Street and the cost to the consumer to purchase fashion items reached a record low back in June 2009. 60% of retailers this year, in comparison to 40% in 2009, opted for major reductions on their ranges, most notably on ladies' wear items. This leaves retailers with the added dilemma of now having to compensate for current deficits in profits later in the year, particularly during the annual Christmas rush.
Richard Lim of the British Retail Consortium has summed up the situation facing fashion retailers, saying, "Promotions are at an all time high. Yes, ultimately margins have been compressed as retailers discount and use promotions to drive sales. In the future there is a lot more uncertainty as to whether consumer spending will stay on an upwards trajectory and it is uncertain how this will impact on the earnings of retailers."
Fashion retailers themselves have endeavoured to stave off negativity and remain optimistic, citing spells of good weather earlier than usual in the year and an earlier Ramadan as the reasons they have chosen to prematurely offload stock. However, it is likely that year round' sales will remain an indefinite fixture in fashions stores across the country in order for them to retain their market shares and combat collective reduction in consumer spending power.
Shop equipment suppliers offer retailers a wide range of sale and promotional specific shop fittings and related products to help stores achieve their essential revenue share. At Morplan, our comprehensive range of shop fittings includes merchandise units, gondolas, shoe racks, garment rails and ladder display units, which are an attractive alternative to the traditional mannequins.
Not Plain Sale-ing' For Fashion Retailers
By: Charlie
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