Only a cave-dwelling hermit could have missed the fact that, economically speaking, we’re in a spot of bother.
The daily barrage of fright-fostering headlines has ensured that even the most media-shy shopper has been battered into a sense of financial dread.
OK, so we’re in the midst of an economic downturn, prices are up and trade is challenging, but our industry is awash with inspirational operators who have a scientific knowledge of what drives their customers to buy fashion. The most professional of these will still be trading when we reach the other side; many will even be stronger.
Rather than jump on the bandwagon of doom, Drapers brings you the Recession Survival Guide. Crammed with recession-busting tips on how to maximise efficiency and drive growth, our 36-page special provides an indispensable guide to keeping one step ahead of this volatile market.
For independent boutiques, there are lessons from industry experts on how to negotiate better terms from banks and landlords, as well as an investigation into how hard fashion brands are working to help their stockists. High street multiples are given insight into how technology can be harnessed on a budget to improve stock control, as well as advice on ways to lower logistics costs. And, for brands, we take a close look at the various channels available to help clear stock and ideas on the best way of marketing your company in the face of an economic slowdown.
Elsewhere, we examine how consumer behaviour has altered in recent months, what steps you can take to motivate staff in the absence of salary increases, and
guidance on how to maximise your online sales. We hope you find this guide as entertaining as it is informative.
- Khabi Mirza is features and fashion editor