The mood is good among fashion retailers. Despite missing almost four weeks of sales in the most important months, the fashion industry has managed to achieve a turnover increase of 20 percent compared to winter 2020. Retail service organisation Euretco shares this with Modefabriek.
The weeks of store closure were much more manageable compared to last year's closure, which lasted much longer. The circumstances are now also much better: no more sales by appointment and no corona check at the entrance; this makes shopping fun again!
We continue with cheerful news. The resale of last December went much smoother than the same period the year before. This is because the fashion retailer has started to plan its deliveries better and because series from the winter before have been taken to this season. How can we translate this news to percentages? The resale of the winter collection in the women's fashion category was 73 percent in week 2 of this year compared to 2020. In the men's fashion category, this was 66 percent.
Compared to last year’s winter season, 10 percent more collections were resold this year. What does this mean for the stock in the stores? In the women's fashion category, there is on average 21 percent less stock, for men this is 25 percent less than the same period the year before. Among fashion entrepreneurs, there is good hope that these items will still be sold before the spring season starts. That requires some creativity. For example, there are retailers who have started the playful initiative 'the surprise bag' with the last items from the seasonal stock.
The trick now is to maintain these positive developments this coming season. It is not up to the consumer, who knows how to find his way to the shops. Pro tip from Euretco: a good sale depends on the purchasing. Know when you are going to sell, and adjust your stock accordingly. Good luck!
Written by Marjolein Stormezand in collaboration with Euretco.