Experts recommend retailers to abandon "addiction"
Consulting company Oliver Wyman, which provides services, including to large Russian retailers, recommends that retailers reduce the number of promotions in order to get rid of the risks associated with industrial dependence, Vedomosti writes.
It is no secret that with the decline in purchasing power caused by the crisis, many retail players often began to resort to various kinds of discounts in order to stimulate demand for their products. As a result, promotional campaigns reached such a level that buyers ceased to be value. In addition, customers accustomed to discounts believe that the regular price is no longer profitable. Often, retailers evaluate the effectiveness of a promotional campaign only by the growth of goods per share, experts at Oliver Wyman note, which means that side effects, for example, the effect on sales of other goods and brands and a shift in demand, are ignored. The net effect should also take into account marketing costs, additional labor costs and costs in the supply chain due to the need to handle over-volumes.
On average, according to Oliver Wyman, promotions reduced sales growth by 18% over the past five years (data based on a study of Eastern European networks). At the same time, upon reaching a critical share of promotional sales, every additional 10% increase in turnover entails a loss of 1% net profit, consultants at Oliver Wyman calculated.
Consulting company Oliver Wyman, which provides services, including to large Russian retailers, recommends that retailers reduce the number of promotions in order to get rid of risks, ...
Puma has released a commercial version of the biodegradable Re:Suede sneakers
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"Sportmaster" will launch a branded Kappa network in Russia
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Aquazzura opens a boutique in Saint-Tropez, France
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IDOL updates the concept
The IDOL brand, part of the Melon Fashion Group portfolio, opened the first flagship in an updated concept in the Aviapark shopping center in Moscow. 22.04.2024 192
Fashion house Schiaparelli has released sneakers with socks in the shape of golden toes
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We are ready for active development in the Russian market
Friedrich Naumann, CEO of the Tamaris brand, told Shoes Report about the company’s ambitious plans, business development in Russia and expansion of the retail network, and also shared details about new collections and launches.
“Discount for repairs” of clothes and shoes in France supported workshops
The French have calculated the benefits of a program that encourages consumers to repair clothes and shoes by providing discounts on these services in certified workshops. The “repair discount” program began operating in France in November last year. Over the six months of operation of this program, the number of calls to repair shops in France increased 10 times and amounted to 250 repairs. The French saved 000 million euros, writes leparisien.fr.
Coach turned to Big Data analysis and won the interest of a young audience
American handbag brand Coach has planned the success of its Tabby model among a younger audience, Generation Z, by turning to big data analysis, abandoning traditional and analogue tools, such as human intuition or the ability of any executive to sense “which way the wind will blow,” writes B.O.F.
Why is it so important to work with customer reviews, analyze them and use them in your work?
Customer reviews are of great, invaluable importance when selling a product. However, many companies do not always understand this: they do not collect reviews, respond only to positive ones and do not work with negative ones. This is a big mistake and omission of the brand. In this article, together with SR digital marketing expert Tatyana Vasilyeva, we understand the intricacies and nuances of working with customer reviews and explain why it is worth paying attention to your customer reviews, and how this can increase your sales.
Louis Vuitton opens a new factory in Italy
Louis Vuitton has opened its second shoe factory in Italy. After opening the first one in Fiesso d'Artico in Veneto, the LVMH flagship brand has just opened a new production site dedicated to this category of footwear in the industrial zone of Civitano in the Marche region. There is also another brand production facility in Tuscany, where bags and leather accessories are produced, writes fr.fashionnetwork.com.
The Euro Shoes@CAF exhibition will be held in Almaty
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New “dutik” from Rick Owens presented at the show in Paris
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VAGA SHOES is a new participant in the Euro Shoes premiere collection
The Russian women's shoe factory VAGA SHOES will take part for the first time in the international exhibition of footwear and accessories Euro Shoes premiere collection in Moscow.
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American buyers couldn't buy Birkin bags and sued Hermès
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John Galliano and Christian Louboutin created the Tabi collection for Maison Margiela
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Euro Shoes starts in a month in Moscow!
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Why Rendez-Vous and Yandex Lavka released a “bread bag”
Shoe retailer Rendez-Vous announced the launch of a spring collaboration with Yandex Lavka and released a roll that resembles the shape of a woman’s handbag. This “Bread Bag” is presented in the Yandex.Lavka application at a price of 249 rubles. On the product packaging there is a promotional code for 1000 rubles, which can be spent in the Rendez-Vous network.
Camper has released innovative sneakers - designers
Spanish brand Camper's new Roku sneaker features six interchangeable components to create up to 64 different looks and color combinations. Roku means "six" in Japanese.
Fashion trends Fall-Winter 2023/24 for commercial footwear purchases
Permanent contributor to Shoes Report. Elena Vinogradova, an expert in sales and purchases in the fashion business, prepared an overview of the trends for the autumn-winter 2023/24 season especially for us.
MSCHF and Crocs launch "Big Yellow Boots"
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Five rules of professional lighting for a shoe store - something that is relevant in any season
When developing a lighting concept for shoe retailers, it is important to take into account not only the history of the brand, the architectural content of the premises, the target audience of the stores, but also the seasonality of the goods. With the onset of the cold season, client preferences change: bright weightless shoes are replaced by more massive models in discreet dark colors. Despite significant differences in summer and winter collections, the overall philosophy of the brand, its recognition should remain unchanged at any time of the year. Tatyana Ryzhova, an SR lighting expert in fashion retail, has identified five basic rules for a competent lighting concept for a shoe store for readers of the magazine, which will help to present winter assortment to customers in a winning way.
Bertsy: what to look for when choosing a model
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I doubt and object: how to find an approach to difficult clients?
How good and serene would be the work of a salesperson if the customers were calm, cheerful, always knew exactly what they wanted, and bought, bought, bought! It is a pity that this is possible only in dreams. Therefore, we will not dream, but we will act. Together with Maria Gerasimenko, a permanent author of SR, we understand the doubts and objections of buyers and build a strategy for working with them. Our expert pays special attention to the two main objections of buyers, on which 82% of sales are lost.
Two prominent Russian fashion designers Vyacheslav Zaitsev and Valentin Yudashkin passed away
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World Footwear Yearbook: Global footwear production reaches 23,9 billion pairs and is back to pre-pandemic levels
The Portuguese association of shoe manufacturers APICCAPS published the 13th edition of the international statistical bulletin World Footwear Yearbook for 2023, according to which in 2022 the production and export of shoes worldwide increased by 7,6% and 9%, respectively, and the world production of shoes reached 23,9 billion couples and returned to pre-pandemic levels.
Rostov footwear brand Novak presented a collection of sneakers and sneakers
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How to create selling visual content for online based on the identified unique selling proposition?
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Shoe educational program: what shoe soles are made of
“What is the difference between TEP and EVA? What does tunit promise me? Is PVC glue? What is the sole of these shoes made of? ”- the modern buyer wants to know everything. In order not to smash his face in front of him and be able to explain whether such a sole suits him in soles, carefully read this article. In it, process engineer Igor Okorokov tells what materials the soles of shoes are made of and what makes each of them so good.
How to set prices that will earn
Some businessmen still confuse the concept of margin with the concept of trade margins and set prices for their goods, guided solely by the example of competitors. No wonder they go broke! Analyst at the Academy of Retail Technologies Maxim Gorshkov gives several tips and formulas with which you can set not only ruinous, but also profitable prices.
Sales of shoes and accessories: effective techniques for business rhetoric
Which speech modules are effective in communicating with potential and current customers of shoe stores, and which are not, Anna Bocharova, a business consultant, knows.
We form the salary of sellers: expert advice
“How do you charge your consultants for personal or general sales?” Is one of the most popular questions causing a lot of controversy and gossip on the online forums of retail business owners. Indeed, how to properly form the earnings of sellers? But what about bonuses, where to get a sales plan from, do employees allow them to buy goods at discounted stores? In search of truth, the Shoes Report turned to a dozen shoe retailers, but no company wanted to disclose its motivation system - the process of its development was too complicated and individual. Then we asked four business consultants, and finally became convinced that the topic of seller motivation is very complex, because even our experts could not come to a common opinion.
The whole truth about Bayer. Who is he and how to become one?
Bayer is no longer a new, but still a popular and sought-after profession. It’s fashionable to be a buyer. Buyers are at the origins of the emergence and development of trends. If the designer offers his vision of fashion in the season, then the buyer selects the most interesting commercial ideas. It is on buyers that the policy of sales of stores and what, in the end, the buyer will wear depends on. This profession is surrounded by a magical fleur, often associated with a lack of understanding of what exactly is the work of a buyer.
Technology Selling Issues
There is nothing worse than meeting the buyer with the words “Hello, can I help you with something?”, Because the seller works in the store just to help. Criticizing this well-established pattern of communication with the buyer, Andrei Chirkarev, business coach for effective sales and the founder of the New Economy project, shares the technology of truly selling issues with readers of Shoes Report.
Fur, and not only: types of lining
In the production of winter footwear, various materials are used that are designed to retain heat and meet the requirements of consumers: natural sheepleather, artificial fur, artificial fur from natural wool and others. All types of lining fur have their own advantages and disadvantages. Let's consider the properties of each of them.
The best models of Czech shoes of the past
In Soviet times, for shoes from Czechoslovakia sold under the Cebo brand, customers stood in line for four hours and did not regret it, because Czech shoes were considered to be of high quality, comfortable and fashionable. Shoe designer Juraj Shushka shared a photo archive of his collection with Shoes Report magazine, which contains the most interesting Cebo models from the 1940's to the 1980's.
Retail Arithmetic
Before you begin to solve specific problems, you need to find out how accurately all the leaders of your company understand the basic terminology of retail.
How to fire a worker without tears, scandal and trial
Sooner or later, any manager is faced with the need to part with an employee. Properly and on time the dismissal procedure will save the company money, and the boss himself - nerves and time. But why sometimes, knowing that a break in relations is inevitable, we put off the decision for months?
