why is your seminar topic relevant to moda visitors?
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Seeking specialist help when you know you are struggling is progress in itself. Ultimately any consideration for using a consultant must be what they may bring to the bottom line.
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How did you get into retail? I started my career in retail at the age of 18, as a sales executive at harrods. I’ve held a number of roles in various sectors of the industry, from buying to managing capacities, with a number of big players including Aquascutum, dickins & Jones, Simpsons of piccadilly and most notably hoopers, the family owned department store, where I held the position of Md for several years and provided complete strategic direction and vision for the department store’s growth and development.
what do you currently consider to be the biggest challenge for independent retailers? e current recession is affecting all retailers, not just independents, and common issues are putting huge pressure on profitability, such as increasing costs of rent, interest rates, not to mention the challenge of getting footfall through your store rather than online, as well as the effect of out of town retail parks. It’s a different environment now to “the good old days”. historically, independents were in the main family businesses, many of them owning their freeholds. Subsequent generations have not necessarily wanted to go into the family business and few individuals can afford to purchase freeholds nowadays. I do feel our nation of shopkeepers has never had it so tough and I appreciate it’s not easy to keep a sense of optimism. but difficult times also offer opportunities, and it’s time to take the reins and grab them.
How can independents tackle these challenges? retailers should be constantly evaluating their business and looking at any situation, whatever it may be, and discovering ways to diversify and reinvent what they are doing. is may relate to anything affecting them from local parking, changes in product ranges, opening hours to cash flow and supply chains. Take the time to think about your customer and look at scenarios from their eyes. What do they want? What do they need? don’t dwell on what you have always done in the past. If something is not working for you, fix it – change your mindset and the way you operate.
Trading today is tough and independents face a number of challenges, from the difficult economy and the astronomical growth of online to a change in shopping habits. So many household names have ceased trading because they refused to see the writing on the wall, so seeking specialist help when you know you are struggling is progress in itself. ultimately any consideration for using a consultant must be what they may bring to the bottom line. It may be a particular skill, for example buying, hr or visual merchandising, or simply an unbiased, commercial view of your business. e aim of this seminar is to highlight to retailers that investing in a consultant could be a wise move in today’s climate and I will be discussing how best to turn that investment into profit.
what have been the biggest changes in the fashion industry that you have seen in your career? e impact of primark and supermarkets selling clothing has had a significant impact on the fashion industry recently, and smaller businesses are struggling to compete with the buying power of the big stores. e bigger chains and departments can offer lower prices and as a result consumers are getting into the buying habit of shopping around and have a constant expectation of discounts.
what is your main advice for independent fashion businesses operating in the current climate? It may sound obvious but try to look at the business with fresh eyes. We're all guilty of accepting what we see every day. Get involved. Independent retailers are rooted in the communities they operate in and canny businesses should exploit this as it gives them a competitive advantage over the big department stores. Independents need to be involved in as many aspects as possible, from local awards to petitions about parking. e love affair with the british high street does not need to end. retailers need to show consumers what they are missing out on through highlighting the key strengths independents have, such as exceptional customer service. Your loyal customers are great ambassadors and will spread the word far better than advertising, also exclusive and niche product which the big players can struggle to offer their customers. retailers should carefully look at their finances and not commit their total budget to forward-bought product as there are now more opportunities to buy in-season with short-order lines, which may also give a better average margin.
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e love affair with the British high street does not need to end. Retailers need to show consumers what they are missing out on through highlighting the key strengths independents have.
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