After a decade of discussions apparel manufacturers and retailers are finally discovering the benefits of shorter lead times, more frequent deliveries and less risk taken on fashion products. Since 2008 discussions have been heading towards the safety of not overbuying or anticipating and the financial soundness of not taking markdowns.
The uncertainty of retail is prompting the shift away from once a year ordering that is still shunned by most manufacturing suppliers that want to get the order, produce and deliver the goods and head to the golf course when their day is done. But in growing measure, struggling retailers are no longer able to obtain private funding for their businesses and are being forced to adjust the way they operate accordingly.
Discussions with a growing number of formal wear retailers the past two weeks say they have been hit by the credit crunch. Some told eWedNews, “We’ve been reading your thoughts on this for years but when times were good, no one really cared. All of a sudden everyone cares.” Ed Honeycutt of Mr. Formal in Oregon told eWedNews, “Times have changed and we have to look at every portion of our business; ordering huge quantities in advance is tough, especially if the demand or support is not there from the consumer.”
Honeycutt, that went from 100 stores five years ago to half and growing number of larger buyers like him say they no longer plan to buy items that are not tested, proven for demand and properly supported with an audited advertising schedule by the maker of the product.
eWedNews
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2010
Posted on 07/20/2010
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