Tag: clothing

Categories
Uncategorized

Jackie, how do you like to shop?

Another week, and another High Street name closing stores. 

This week, we have New Look. In a radical revamp – upto 100 stores will close. 

Why? Like I’ve mentioned before…. our shopping habits are changing. There’s so many uncertainties. Brexit. Etc…. 

So what next, Bal?

Great question! – I see the whole High Street changing. There’ll be more closures and more well known names disappearing from the High Street. 

When it comes to clothes – we’ve traditionally gone out to shop. Because we need to touch, feel and try. 

Comparing clothing to electrical – online sales are not has great. But that’ll fast change. How?…. let’s just look to Amazon and what they’re doing.

Yep, they’re offering a ‘try before you buy’ service. 

Select a number of clothes…. sizes, colours, etc… have them sent to your home. Try them… see how they feel – like them? Keep them (and obviously pay) don’t like them? – return them free of charge. 

Simple? Off course! That’s what makes it so easy. 

Jackie, a mum of 3 boys – who’s always running around and very busy, doesn’t have time to go into shops, try various clothes…. instead, would rather be able to try the clothes on – when she wants and where she wants (on the basis she knows where the kids are – on which some occasions is a challenge on its own).

Amazon started selling clothes 10 years ago and is only recently pushing more into this space. Without doing much, they have a 4.6% market share. Just behind M&S online clothing. 

Next is in the lead, with 12.5% of market share. You also then have John Lewis, ASOS and eBay. 

So can Amazon gain more market share?

I think Yes. They’ve got the power and the ability to make it a success. We’re ordering more and more varieties from Amazon, from baked beans (yes, you can buy them) to garden furniture. Why not throw a cardigan in the basket as well.

Reminds me of the time I went to Tesco to buy some milk and bought a TV. I did that in a physical store about 6 years ago. Looks like now is the time I would buy some socks with my books from Amazon. 

Categories
Uncategorized

Debenhams – reporting biggest loss in its 200 year history!

Let’s not be surprised. I keep banging on about – how shopping habits are changing. How we, as individuals have more choice – more flexibility and more influences – that steer us to make certain choices.

So there shouldn’t be any surprise, when Debenhams will report an annual loss of almost £500m for the year to 1st September.

Along with the full year loss – there’ll be store closures – of around one third of it’s 165 stores, over the next five years.

There’ll also be job cuts. Yep – around 5,000 are to be affected with restructuring plans – over five years.

Shares have fallen by more than 80% over the last year.

Bal, that’s not good. Is it because we’re shopping on-line?

Partially, yes. Debenhams digital platforms are said to be trading strongly. So you have to ask the question – why isn’t there more investment in those platforms? – Why isn’t there more money in the ‘Bricks & Clicks’ model?

Bal, what’s the ‘Bricks and Clicks’ model?

It’s a model where you have a strong mix of actual stores – bricks… and a digital presence…clicks. Many stores are doing this very well. Take the retailer Next. They have a good ‘Bricks and Clicks’ model in place. In fact, they started off with the catalogue (back in the day!) – moved that quickly to an on-line platform, made ordering easier and fast forward to today… you can click and collect on the same day!

It just doesn’t seem that young people have the time, to spend in large retail stores… walking around, looking around… when it can be done quickly, easily and efficiently from home…. via the phone or tablet. However, there will be times, maybe around Christmas (seasonal) or Birthdays (occasions) when some ‘retail therapy’ of walking around a stores is needed.

It’s all about using your data. Understanding how your customers are buying. How their habits are changing. Making it easier for them. And then implementing….

Categories
Uncategorized

A Million at 16….

I thought, it’s been a while since I’ve shared with you a good questions and answers interview.

So, I decided to reach out to someone young… someone rich… someone who’s made it… and someone who’s really helping others. I suppose, most importantly, someone you can learn from.

Dhillan Bhardwaj.

Started a clothing brand when he was 16. Making a million within a very short space of time. Had superstars such as Rihanna, Miley Cyrus and many more reach out to him…

So, I decided to ask him a few questions…. Enjoy!

  1. When you were younger, did you think you would be so successful? – and who has been your biggest influence on your journey?

When i was younger i was already told i would be working for the family. of which i didn’t enjoy at all. It was car mechanics, cleaning, just boring shit that i don’t think i really wanted to do for the rest of my life. So no i didn’t think i would be anywhere near successful with my own self. My influences were nobody, nobody knew what to do when i had the idea, clothing isn’t anyone’s strength in my family so they were pretty lost with it all lol. But my mum and dad used to guide me and advise me, most of the time i probably didn’t listen but i think it’s ok to break the rules.. sometimes. Oh and my sister was everything to me, my 4 sisters Kd. Rickee, Nikki & Monica helped me when i reached my peak when i started. 

  1. What do you think is your biggest threat? 

Myself, my mental mind is my biggest threat. I try and think positive as much as i can, be nice to everyone,always have good vibes. It takes a second to think or do something wrong and then everything is left in your hands. People assume other brands threaten me in the industry, but i don’t have time to think about other people. i stay in my own lane and do me, im way to busy to think about what someone is doing. I know for sure i have inspired a huge amount of start up brands because they use my ideas and designs. But they won’t credit me, i dont mind i just think with that kind of attitude, don’t expect to go far.

  1. How has technology helped you and your brand grow? 

When i started it was amazing, it was free to use. but now you have to make Facebook etc for your posts to be seen by everyone who follows you, which is shit because people can’t afford to do that which is why a few brands fail. SOCIAL media is everything to a start up brand.  

  1. If starting again, what would you do differently? 

nothing. if i made changes maybe i wouldn’t be where i am today. 

  1. For all those, who look up to you… and want to learn from you… what is the one bit of advice you would provide them with?

you’re gonna get rubbish days, weeks maybe months. Don’t let that stop you from reaching your goal. It takes alot of time. Stick with it and success will come your way. 

Wow!… what a guy. Hope you enjoyed it… and are able to take some of the great insights that were shared!…. For me, it’s the last one. Stick with it and success will come…