Sylvie Cornu Founder, +ESTATEofMIND The buyer stocks cutting edge fashion brands including Michael Lo Sordo, Justine Davis, Flowers for a Vagabond and Orri Henrisson.
There is no doubt retail in Australia is becoming increasingly challenging, but people still maintain a need to indulge, especially in fashion and recreation. Price points of items in my store start at $50 for jewellery, clothing is between $100 to $500 and more elaborate dresses start from $400 to $1,000. I find items in that mid $100 - $250 range sell best as my customer base is mostly a younger crowd who don’t always have a pocket full of cash. I hunt for garments with detailed construction, quality fabrics and experimental design aspects, catering to more adventurous shoppers. But designers need to remember that a lot of buyers struggle to order 50 of one thing - if they can keep it so production has no certain minimums and maximums, that would make things easier as a smaller boutique owner. I like to keep my stock exclusive and do only limited amounts so my customers feel their purchase is more unique and not going to be saturated in the market. I understand that in production these limits need to be put into place, but how about piggy backing each store with one another or finding a production house to produce smaller runs? I also feel it would be a great idea for designers to work with their stockists more to come up with new ideas from merchandising, to promoting their label in store, events and basic customer interaction. When customers aren’t buying, neither are retailers, which is why it’s so important to me to support the next generation of fashion.
Phoebe Garland Co-owner, Garland & Garland Fashion agency. The agent represents middle to mature age brands including Black Pepper, Breakaway, La Dame and Adam Jacobs.
We are finding buyers are really looking at prices before they come and see any fashion label. With Zara arriving and the way the economy is, the consumer is getting extremely price pointed. The $99.00 RRP and under tends to get the volume of sales for turnover for retailers. Buyers are also looking at lines that run stock support on winners in between seasons, as many buyers are saying they are no longer confident as to what business is going to be like in six months’ time. In terms of the more expensive labels, they will buy them, however they have to either be a very strong brand the consumer is familiar with, or it has to have a point of difference. We find buyers and consumers are happy to pay for the more fashion orientated garments but not basics anymore, which they can get from any chain store. Fur and leather tends to sell well at a higher price point, as the consumer can see the value in these garments. If a label is in a department store a buyer can be very reluctant to stock it due to the discounting factor, again depending on the brand’s strength. When a department store discounts they are still getting margin by having negotiated with the fashion label for rebates, however an independent retailer cannot compete with this and does not have this luxury. We are noticing buyers are also looking for the key point of difference, while also looking for fashion labels which are commercial to lure the consumer away from chain stores and department stores.
Kath Purkis Founder, leblackbook.com.au The buyer stocks middle market designer brands including The Last Romantic, May Beatrice, Hannah MacLeod Stretsis and her own ‘Noir Shop’.
Buyers are looking for products that are likely to sell out immediately or sell out in high volume. Buyers are on the look out for innovative designers that produce garments at a great price point without compromising on quality and style. It is better from a retailer’s perspective to sell 10 units of a lower price point product as opposed to one unit of a higher price point product. More sales equals more consumer awareness, which equals long-term loyal customers. Designers need to create diffusion lines or lower price points in order to remain competitive. It is imperative that designers adapt and survive in order to thrive in this economic climate. It is a challenging environment and as a retailer with designer and in-house labels, Le Black Book is covering both angles. It is essential to create a brand that can easily be marketable to consumers on a global scale. With the right formula this can be achieved through various mediums. Buyers are looking for brands that are serious about branding, marketing and social media. There is no point picking up a brand that has zero commitment to any of the above. As a retailer, it is crucial that brands support retailers through social media networks alongside ongoing marketing strategies and publicity. As a buyer, I am contacted daily by brands seeking to be stocked at Le Black Book. The first thing I do is look at their website and consumer social media following.
