The Color of Money....

The right color can determine whether the products you’re producing or buying for next season fly off the racks or end up under a big red clearance sign.

But how are you to know whether the hot colors of this season will be trendy a year from now?

You don’t. For that you have to ask the experts.

There are people that actually research color trends ahead of time, so you don’t have to spend days fretting about things like whether something may sell better if it’s in olive or emerald green.

The secret of major retailers and design houses is that they use color forecasting services like the Los Angeles based, Design Options to make sure the collections they’re producing are not only beautiful but merchandised to sell.

For a minimal cost Design Options will supply you with palettes of the hottest upcoming colors for women’s, kids, men’s, lifestyle and home furnishings up to a year in advance.

With over 20 years of color prediction services under their belt they have a strong track record of “getting it right.” Taking advantage of services like theirs can help ensure you “get it right,” as well….

Inquire about the latest colors and Subscribe to Design Options free newsletter at www.Design-Options.com

Give me a Reason...

Shopping the other day I ran across the almost perfect bag. This sleek, glossy snake-skin number was just calling my name.....

Until.....

I turned it over and found a big metal plate that said "NINE WEST". This mid tier company had managed to turn a perfectly glamorous handbag into a promotional piece.

For me a potential customer-- through this ill placed logo, the company inadvertently created what I would call "A Reason NOT to Buy."

As you merchandise your line be careful to reflect on how even the smallest detail that may give a customer a reason to walk away.

Reasons not to buy can be disguised as cute little details, logos that don't yet carry brand recognition or female designs that are not undergarment friendly. Haven't you ever wanted to purchase something that would be perfect...only if.

Maybe my reason not to buy should have simply been that my $200 belonged in a mutual fund instead of a cash register. But hey...that's not the point....

One Step at a Time....

A lot of companies are convinced that if they don't sell everything under the sun they are leaving money on the table. Quite the contrary. Customers appreciate focus. It builds confidence and helps them to think, "You know that great handbag designer?" "She's doing the wallets now." It's a very logical process and simply makes sense for everyone.

If you try to throw everything out at once...potential customers get paralyzed. You risk becoming common... a jack of all trades. The customer starts to think, "We don't even know you." "What's your specialty...your niche?"

By introducing one product or group of products at a time a designer has the opportunity to establish themselves as a competent manufacturer and a recognizable name. Through developing a following and focusing on your skills you can become a well paid specialist instead of a general practitioner.

As examples go Louis Vuitton one of the most successful luxury companies in the world started with luggage, Juicy Couture branded those infamous tracksuits that were so popular we never want to see them again and Diane Von Furstenburg's wrap dress she introduced way back when continues to rake in dough for her as I type. Don't look at where these companies are to gage how you want to launch....look at how they started. That will give you a better vantage point of where to start.

Focus can also help you tremendously from a production and cost perspective...less pattens, less time fewer vendors to manage. Trust me, do it right and people will get it......

So don't let focus frighten you....as Martha Stewart's favorite saying goes..."it's a good thing."

The Right Position

As I mentioned in the previous post Positioning is all about finding your spot in the marketplace. Finding this special spot is one of the first and most important steps in creating your brand.

Let's do a quick example. Let’s say I want to start a basic contemporary female tee shirt company Gloss Tees. I plan to sell to stores like Nordstrom and sit in their SAVVY section with designer denim and other contemporary tee brands.

Within that environment my direct competition includes James Perse known for their super soft luxury cottons and C and C California famous for their sheer layering effects and lean fit. Both are priced around the same as my company Gloss Tees ranging from the $35 to $70 price point.

Ok, great…so if I consider C and C and James Perse as my biggest competitors how can Gloss stand out?

Well, my tees are made with a special lycra that has a shaping effect for a smooth silhouette. That's my niche. I have to make a point/position this so that prospective consumers clearly understand why I am different and consequently the only option for a great fitting tee.

See, even though Gloss Tees will still be reminiscent of any basic shirt, by focusing on the shape I put it out there that while I am not the only choice for a tee shirt in the SAVVY department but I am the only choice for a tee shirt that gives you a great shape. I've crated a category of one.

That's what any good brand needs to do. Create a catagory of one. Think about how you can pull out the best in your product and create a category for your business.

The Two Faced Designer— Editing Your Line

Merchandising is a matter of using both the creative an analytical side of the brain. Achieving financial success in fashion doesn’t have to be a gamble. The merchandising process is designed to turn your product from a simple work of art to merchandise positioned to produce financial return.

After your line is beautifully designed the Merchant then takes over and begins editing the line to make it a marketable assortment. In this article we’ll discuss the general of merchandising and how to begin the process. .

A Merchandiser is not all about numbers and margins. Although the bottom line is their priority both the designer and merchandiser ultimately want a visually stimulating line.

The conflict can approach when it comes to turning your gorgeous line into a successful business. This means creating an assortment with the right number of pieces, appropriate pricing, positioning and strategic sales strategies.

I say all this to say that in any design related company that’s goal is financial reward, there needs to be at least two people making product decisions. A designer and a merchandiser.

If you’re a one man show you’ll need to assume both roles as you begin merchandising. This journey begins with editing your line. In order to accomplish putting together an effective merchandising strategy the first stop is to separate yourself.

The designer side is free and artistic while the merchandiser side is best described as the business person as well as the “customer filter.” It is ultimately the merchant’s responsibility to make sure everything suits the potential customer’s preferences and most of all sells.

Let’s back up a bit. If you haven’t already you’ll need to define your customer. Outside of typical demographics age, gender, income and geographic location, take some time to dig deeper.

Really try to get into the psyche of your customer. Shop where they shop. Read what they read. Watch what they watch on television and son on and so forth. At times I suggest my clients write a little story about their customer’s lives. This helps ensue that every product they decide to produce has a place in the customer’s life.

Another helpful exercise is to match your product to a well known person or celebrity. Is your product more Posh Spice or more Sienna Miller? Jackie O or Kelis?

Getting your customer profile together first helps to put everything in perspective from your brand strategy to your actual product assortment.

Once you’ve thought about your customer preferences begin applying them to your product line. As you get started whether you have samples or simply flat sketches the Merchant should pull each product through this customer profile or story. If it doesn’t fit it’s out. You don’t want to throw off your brand with an unfocused assortment. The goal is to make sure your product says something and keep in mind it’s not supposed to say something to everyone; just your potential customer and anyone who aspires to be like them.

The proper merchandising strategy is not only going to serve to increase your sales but it will also help greatly reduce your costs. You’ll hopefully eliminate things without sales potential and draw more focus in your marketing to product that you strongly believe in.

In effect you’re working at it from both ends to achieve the highest sales and profits possible.

If you need help developing your merchandising strategy contact Gloss Marketing at info@glossmarketing.com.