I guess it's time to tell people that the Journalism masters is no longer going. I wasn't impressed with the program...I didn't like the school...and I'm restless at this point in my life so I decided not to waste my time and money. I'm currently looking for another program, something that will challenge me. We'll see how that goes.
Now to the topic at hand.....
I got an email today from a store manager telling me that my business is struggling in his store and that he's only 84% sold to last year on my line. My first thought was that there isn't much demand for contemporary menswear in Provo, Utah. Apparently I was wrong since the other contemporary lines are averaging at 115% to last year. Therefore, his concern has now perplexed me...especially since he wanted to know my plan for turning business around for the Fall season. I had no idea how to answer him except to spout off my markdown strategy for Fall 2008 and to suggest to my VP that I go visit the store to figure out the problem.
I believe it's all due to pricing....you the common man who would shop at a reasonably priced department store does not want to spend $95 on a button-down shirt. Nor do you want to spend $40 on a tee shirt...even if it is pima cotton because you don't know what that means! I believe that I understand my customer fairly well. He has 3 names......
Larry.....buys our basic old-school stuff. He likes linen in the spring and wool in the fall and has absolutely no fashion sense whatsoever. This man could care less that our linen is from Ireland or that our wool comes from Italy. His wife buys all his clothes.
Guido....likes the silk sweaters, the polynosic knits, the stuff that he can wear without an undershirt...the stuff that tends to show nipples through the thin material. He wears a sportcoat over a mock neck on a daily basis and thinks this is classy.
Javier....is our fashionable man. Maybe a little homosexual, maybe a little fashion-obsessed, maybe a little too old/confused to buy something that is actually fashionable at a store that actually sells fashionable clothing.
This may sound like racial profiling or something, but defining your customer is important. I am starting to believe that neither Larry, Guido or Javier lives in Provo, Utah and that is why my business is so bad. Or maybe these three gentlemen are getting tired of paying our ridiculous prices for clothes that aren't that great. I'll be sure to let know you when I find out.....
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