Retailers are against the tide at the moment, the weight of the excess stock is a multi-million pound problem and no end in sight.
Image your order book prior to January, filled with the SS20 stock for your independent or retail space and now if you have had the good fortune to cancel your order the buck stops with the manufacturer, thousands of people in Bangladesh and China are without work and the impact then on humanity is vast, one problem solved for one but so many other problems made for thousands.
The retail giants have slashed orders, but they still have an obligation to their manufacturers to take on product and even though they have reduced their order books by millions, there are still millions of garments stacking up in warehousing all over the world. Image now the discounting that will have to happen to get these goods sold. It will be the largest stock clearance of the century and its impact on the fashion world will be detrimental in more ways than one.
The retailers need to find a way of disposing of stock that is not detrimental to their brand and does not take it to the level where people will only buy the brand at a discount, there is a fine line. Selling on off price platforms is one way to move stock and as long as those platforms direct the merchandise in the right way then the Brands will have a hope of survival in a world now of competition that is cut throat to achieve the best deals in a deluge of supply.
Now for us it is a time to rethink the fashion platforms and how we sell and cultivate new growth, I think that going forward we will emerge with a much stronger thought process on where do our clothes come from, who have made them, what is the carbon footprint of each piece ? With this thought in mind we at MOOand BOOM are taking on excess stock and will promote it on our platforms so that new consumers can enjoy the experience of a new product but at a very fair price, or a pre-loved item can be teamed with a new piece and an outfit ready to wear.
Please let us know if we can help move stock on for you, we would be happy to help however small the units, keep the wheels turning and the land free of fashion, and when it comes to doing your orders for next year remember that quantity is not the answer but quality is …. and this just might be the defining moment in the fashion industry that was needed to stem the flow of over production which in it's wake pollutes our world.
Time will tell.