Tag: business development

What I’m Listening To…Podcast Roundup

I love listening to podcasts. It’s such a wonderful way to pass time while doing other activities, and it makes it easy to be inspired and learn new things. You will be surprised at how your next great idea could come from a story about life-span longevity (TED Radio Hour) or Will Chamberlain’s underhand basketball throws (Revisionist History).
One example of an inspiring podcast is from the Malcolm Gladwell podcast: Revisionist History, the episode “The Lady Vanishes”. Gladwell introduces the concept of “moral licensing” in context of a famous female painter in 19th Century England, who was the first female to be included in a line up of male artists in a big art show. Her piece was chosen to be a part of a prominent collection Royal Palace. However, once she was selected the first time, the all male review panel chose to never accept her work again. The reason, Gladwell claims, is due to moral licensing. The male review panel felt that since they had included a woman once, they could no longer be claimed as sexist and they didn’t have to include a woman again. The woman, painter Elizabeth Thompson, eventually gave up showing her work and became resigned to a life of taking care of the home and kids never to paint again. Her painting? It still hangs in the Royal Palace! Lesson Learned: If you get a break, keep pushing forward and push hard. One opportunity does not ensure long-term success!
As you work your way through this list take a look at the last few episodes they have published and have fun!
PODCASTS

Human Interest


Business


Comedy!
I’d love to know what podcasts keep you happy, inspired and motivated. Please share in the comments below!
Syama Meagher is a retail strategist for brands and retailers. She helps entrepreneurs launch and grow fashion business through ecommerce, wholesale and brick & mortar. Syama is a former at Barneys New York, Gucci, AHAlife and Macy’s. To build your brand and create a profitable business check out www.ScalingRetail.com and email hello@scalingretail.com

The Ultimate Guide to Selling Wholesale

Its that time of the summer! Did you just show at the POOL Tradeshow or MAGIC? Maybe you are getting prepped for Capsule in NY or you just showed at NYNOW. Or maybe this season you have said enough! And will be doing you own buyer preview in house. With trade shows abound and buyers ready with their OTB (Open-to-buy), its an exciting time to be a brand. To ensure a selling season that sees results follow my ultimate guide to selling wholesale.

 

Syama’s Ultimate Wholesale Selling Guide!

 

  1. Create a smart outreach schedule. Implement project management apps like ASANA that will help you organize your calendar and to do list. You can delegate to team members and approve and share doc’s. If you want approval on your invites – stop sending them out on emails and share them with your team in a way where everyone can see eachother’s feedback. Every week for the 6-8 weeks around the buying season you should be emailing, calling and sending out postcards. No response is not a no.
  2. Check your email open rates. Tired of sending out well thought out emails to individual buyers and not getting feedback? They may not even be reading your emails. Implement Streak (my favorite tool) to see if your subject headers are having any results. If no one opens, its time to resend the same email with a different subject header.
  3. Build up your perceived value and tell everyone about it. Use your social media channels, your newsletters and your individual buyer emails to pump up your brand. Include your best press outlets, the influencers that love your brand and any important retailers that your audience would want to know about. You want to create the impression of “Wow, this brand is getting traction, I need to know about this”. Anytime something great happens think of the 3-5 places you can syndicate it out to.email
  4. Yes, numbers count. Your buyers, editors and influencers will check your social media numbers. If you are a new brand and just launching, it doesn’t matter. Most brands are building up their social media channels 6-12 months before they launch so they can get traction. If you are doing this supper last minute- which is not the preferred method- I suggest 1. Streamlining your social media channels to Instagram and Facebook 2. Front loading your channel with lifestyle, brandcentric and product images 3. Hiring a bot like (FastFollowerz) to help you with engagement and follower numbers. This is not the long term strategy simply because fake followers don’t care about your brand, they won’t buy and they screw with all your numbers (engagement, follower rate etc.) However, if you have not done the preparation to get your brand in great shape with social media you may not have a chance at market without a strong online presence. The alternative is that you can start building organic now and do your big push in Feb market. No need to rush something so important like you brand presence online.
  5. Get innovative with selling tools. Who says you need a full scale printed lookbook and linelist with all your products. There are so many ways to get your brand noticed. Some of my favorite ideas are custom USB sticks (email maxs@usbmemorydirect.com, for a free sample!). I also love the idea of using a smaller directional printed book- something that really just highlights the direction, mood and feel of the collection. You can always email the full stack loobook and linelist to the buyer. Another favorite idea is to do a 4-week postcard campaign with a different image from the collection on each one. What a great way to tell a story!
  6. Be cohesive. If your website is not in good shape, then why waste the time pitching? I always would check out someone’s website when I was a buyer and see how they present themselves. Are you echoing the same message on your social media channel? When you write your emails and create branded assets do they all have the same verbiage? Every email you send is a branding opportunity. If you do not brand yourself, you will be branded! You don’t need to spend a fortune on an amazing site, with careful planning and the right help you can get a full stack build out for $3k- its true. Look like you are funded, even when you are not.YouTube Video How to Create a Page That Sells
  7. Long-term game. No matter how seasoned you are you need to remember that buyers are people and want to build relationships, not just buy products. If your entire business rests on sales from one season then you shouldn’t be in this business. Better off to invest your time in another business, one that doesn’t require so much relationship building and time. There is no magic to hard work.
  8. Present with perfection. Yes, you need branded hangers. Yes, you need garment bags. Yes, you need stickers to add to boxes when you ship out samples. It’s in the details. When you are one of a thousand brands pitching and you get the opportunity to put your product in front of the buyer or to send them samples you have increased your chances to one of a few hundred. Why blow the opportunity by not making it the best darn presentation you can.show the clothes
  9. Pitch 365 days a year. Well, technically no, but you cann
    ot just communicate with someone when you need them. It’s like a friend who only asks you to coffee when they want you to lend them money. This is why brands hire showrooms and sales reps. since they keep the relationships warm all year round. You should be planning your off month communication so that when the official selling season is over you are still in touch. This way if you have any immediates (products with inventory on hand) or want to chat about exclusives or even next season you will have their ear.
  10. Know your Operations! This is a no-brainer. You have got to know what kinds of payment terms, minimums, shipping deadlines, EDI requirements, chargebacks, and logistical elements will be asked of you. Can you work on drop-shipment, cross-shipment, consignment? If you are not prepared with the backend, all the front-end work you have done and product development will have been for naught. If you are not familiar with the logistics and operations then educate yourself right away.

 

Best of luck this selling season! I know it’s difficult to sell your products to retail buyers. As a former buyer and consultant for brands, I have spent the last 15 years in this industry and have seen the rapid changes. Veterans in fashion don’t know how to play in the new landscape of wholesale, retail, popup shops, mobile commerce and social media. You need to arm yourself with a strategic plan to leverage the best of your brand and build from there. Your business model may be different from your peers, but finding the right model for you will help you with longevity and success. Here is to your successful selling season!

 

Syama Meagher is a retail strategist for brands and retailers. She helps entrepreneurs launch and grow fashion business built to last through ecommerce, wholesale and brick & mortar. Syama is a former at Barneys New York, Gucci, AHAlife and Macy’s. To build your brand and create a profitable business check out www.ScalingRetail.com and email hello@scalingretail.com

 

More Subway & Less Runway, Getting Wearable Tech In Front of Buyers

I love Hussein Chalayan. To me he is the originator of wearable technology. While his pieces are more runway and less subway, I believe that he crosses the barriers between the tech imaginary and fashion- simply amazing. The new wave of fashion tech designers are looking to go beyond the runway and start to make products that can be added to the closet and worn regularly.

Fashion Tech

 

 

 

 

 

 

 

 

 

 

Technology and fashion can mean many things, not just adding lights to a jacket. Designers these days are looking to create new materials, fibers and design products that are symbiotic with your lifestyle- aesthetics first. While designers have been playing with new wearable tech products for a few years it has yet to be taken seriously by the mass market. Maybe because wearable tech sounds funny?

Aside from renaming the industry (a personal thought), there needs to be a platform to sell these products. Do they fit in the advanced contemporary market? Is it aspirational luxury? How does one classify? Tech News reported back in April that TopShop was sponsoring a contest with Imarks to support brands in gaining visibility from buyers. TopShop was also providing free business education and mentoring. Its important to see relevant players in the retail space get behind fostering new talent especially in wearable tech since the field is very young.

Fashion tech

Just a couple weeks ago, Mashable reported on the new press on nails by Oyster that allow you to hop on your subway ride with your nails! Talk about simplicity.

For designers who are interested in innovating into wearable tech I suggest signing up for the Third Wave Fashion blog. They are one of the first accelerator programs specifying in fashion technology. If you happen to live in Paris, I suggest checking out the accelerator program sponsored by Galeries Lafayette: Lafayette Plug & Play. It is a dual program between Paris and Silicon Valley. You will get the opportunity to be mentored by VP’s at Birchbox, Galeries Lafayette and Farfetch, and have the opportunity to work with VC’s in shaping your business. You can apply here.

As the former Director of startup, AHAlife, I know how amazing and energizing it can be to work in the tech space. It can also be demanding. There are unchartered waters you are entering and unlike traditional business models you are mastering the synergy between U/X, utility and product. There is more on the line when you work with investors, so I suggest taking your product ideas to platforms like Indiegogo (check out this cool campaign by Zenta) where you can crowdfund the resources to play with new ideas. I remember backing a project that ultimately never came to market (FIN), and I wonder how many other projects on this list will never ship (Digital Trends). But that is part of the fun of it. We are in an age of exploring. What you make today might be irrelevant next year. We all know that we need to wear pants, so I guess if we wanted to play it safe we would go into that market. But that’s just not the beauty of life. We were all meant to make something happen, and if fashion tech speaks to you “Bon Chance”.

I am a retail strategist and consultant for startup and growth stage fashion brands and retailers. Working through a business model? Email hello@scalingretail.com

Crossing Gender Lines – Should You Branch Out?

Anya Hindmarch just announced her men’s collection launch with leather goods and accessories, and last month Stella McCartney announced she would be debuting a men’s collection in November. It’s no wonder that brands are moving into the men’s market; with $440B in annual sales it’s certainly a market share worth capturing. Menswear designers have been making the transition to women’s as well. Brands like Rag & Bone, Public School and designers like Hedi Slimane have only in the recent past branched out to design for women. The women’s market clocks in a hefty $670B yearly.

As a growing brand you are probably wondering how this all affects you. Should you rush to develop a collection for the opposite sex simply to make more money? How should you test the waters? Lets break it down.

First- It’s important to address that collections can be designed androgynously, but when it comes to walking down the runway or showing the pieces in a lookbook you will most likely ascribe gender. The Squad, a knitwear brand out of LA does a great job of creating for both, but you will notice that the collections do have clear cross over between genders.

Second- Aside from aesthetics, the two products are very different. Women’s sizing versus Men’s sizing and fit. If your brand is very tailored for women, you will need to bring in the tailoring for men. This might mean hiring a new product developer to help create your designs.

Third- Branding, sales and marketing. It’s not easy to just create a women’s line after having a men’s line. You will need to pitch to different stores, develop a new marketing strategy and evolve what your brand identity is. This can be especially tricky if your collection will be produced under the same name and your brand identity was very gendered to begin with. Sometimes brands will create a diffusion name to help with creating a “new” brand.

Accessories are the easiest transition to cross genders. Anya Hindmarch did this as she introduced a collection of briefcases and iPhones marketed for men. If you notice that your collection already appeals to both markets try testing out different color ways and fabrics to see how each gender reacts. What’s also interesting about Anya’s story is that she waited until enough men were purchasing her products to warrant the creation of a new line.

Clothing can be difficult for the above-mentioned reasons, but it doesn’t mean the market demand wouldn’t make it worth your while. Smaller brands like The Squad do so with a small team and a highly focused vision. My opinion is to always think big and make a timeline for your growth. If you want to expand then start thinking about it now even if it won’t be for another few years. Retail is a long tail game, so play it to last.

If you are ready to develop a launch or growth strategy for your business send an email to hello@scalingretail.com

E-M and Now Introducing S-Commerce

Social Commerce (S-Commerce) is the new sales channel brands are looking to exploit. S-Commerce apps blend the ease of mobile sales with the functionality of social networks. It became the new hot platform in China with the launch of Weiden in 2011, a platform that incorporates affiliate marketing with WeChat (like WhatsApp) in a mobile app shopping experience. This new “self-marketing” enables the consumer to share and sell products for a commission. This platform now boasts over 600 million users! There are also a host of shopping app’s in the US that are gaining market share: Spring, MallZee, Keep, StyleKick and LiketoKnowit are harnessing the power of social and mobile shopping. Did you know in the US mobile shopping accounts for over 21% of ecommerce sales? Yes- It’s time to jump on board this trend.

S-Commerce also refers to all the sales you make via Facebook, Instagram, Pinterest and other social networks. As social networks look to help you, the brand, monetize your audiences, they are also asking you to invest money and time into social advertising. So then how do you best decide which platforms to invest in? How to determine which apps are worth your time? It’s time to evaluate your marketing and sales initiatives and determine what experiments to say yes to, and where to draw the line.

S-Commerce App’s

  1. Look to distribute on social selling platforms that have robust marketing initiatives. No point on being on a platform without any users.
  2. Check out the requirements to be a brand on these platforms. Spring has a simple form to sign up: https://www.shopspring.com/for-brands and integrates seamlessly with Shopify, Rakuten and Magento.
  3. Most mobile commerce apps will need you to have an Affiliate Marketing setup. So if you are considering signing up for an Affiliate Marketing platform like Rakuten or Commission Junction, start the process now. These big platforms require you to have a strong front and backend to be able to work within their systems: http://www.cj.com/advertiser/join

S-Commerce Networks

  1. Don’t activate the sales functionality on social networks you aren’t intentionally active on. Example: you’ve linked your Shopify account to Facebook but you don’t even have a Facebook page you are building robustly.
  2. Don’t pay for mobile advertising if your site is not optimized for sales. This means Instagram advertising and mobile advertising for Facebook. Your website needs to be easy to navigate on mobile and the layout has to be intuitive. I suggest checking your site on your phone every few weeks to test out different pages and make sure its shoppable.
  3. Companies like LikeitWantit, Like2Buy, Chirpify and Soldsie have been helping brands create conversation between Instagram and ecommerce. Nothing has risen to the top as the go-to platform, but all of them are worth checking out.
  4. Brands like Dylanlex are creating “Shop Instagram” pages to drive traffic to one destination on a website. http://dylanlex.com/pages/shop-the-instagram This becomes an easy way to drive social images and messaging through a landing page that speaks to the Instagram user.
  5. Become active on networks that are actually ROI producing. Twitter is best for peer-to-peer connections, and Pinterest, Instagram and Facebook take the stage for sales conversion. Take down the platforms you are not using.

Syama’s Crystal Ball

I believe that social commerce will continue to be optimized and therefore become a market driver in sales. Websites from 5 years ago that were not built to be mobile friendly will need to be revamped and brands who are not building their brands through social networks will and are falling behind. You simply cannot and will not be successful with out cohesive messaging on all consumer platforms.

The social selling apps and platforms that will rise to the top will create their own affiliate marketing platforms to help brands onboard. Consumers will be looking to diversify their shopping experience, and will not be satisfied with only being able to find major advertisers on the mobile platforms. It’s redundant to see the same brands everywhere – so social selling apps will need to be more curated.

Brands will continue to shift digital advertising spends from desktop to mobile advertising, and integrations with apps like SnapChat and Instagram will allow for more targeted sales and discounts. Because these brands will need to adopt more sensitive analytic systems to be able to target cohorts on social; imagine if you could target users who like or open your content more than others. The tools to market via social will be akin to the email newsletter as the analytics and tools become more sophisticated.

As a brand the decisions always remain the same. When to adopt new technology, and how much time to spend on it? I remember a time back in 2008 when I was working at Barneys New York and we would meet with big brands, not naming names here, who didn’t see the value in selling online. Now look at where we are, social commerce is here to stay. Pick your platforms, build them out, and engage. Play with the new social selling apps out there and get your business ready to sell in a new way. The new integrations will likely roll out to big businesses then trickle down to API’s for Shopify and Woocommerce users. Sales and marketing strategies will need to adapt to this- so start turning the wheels!

If you are ready to implement new sales, marketing or merchandising strategies to your business then set up a consultation. Email: hello@scalingretail.com Scaling Retail is the consulting firm for retail globally. Specializing in startup and growth stage ecommerce, brick & mortar, and wholesale.