22 & 23 July 2020 | Saatchi Gallery

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09 December 2019

Diversifying your product offering: the what, why and how




Maybe it’s ironic, but the prevailing fashion retail trend right now is a step away from fashion. As the UK high street continues to shift, and consumer behaviour fundamentally changes, fashion retailers need to move with the times. It’s not news that fashion has become more and more intertwined with lifestyle, and the two industries have a whole load of crossover. With that in mind, we decided to explore some of the ways that big name fashion retailers like Urban Outfitters and Oliver Bonas have facilitated this change, and how you can follow in their footsteps.
 

The What

Fundamental number one: diversifying your offering is not the same thing as becoming a department store. It’s about making subtle changes in what you stock to provide a well-rounded product offering that is complementary to what you’re best known for. It’s about setting up cross-selling opportunities for yourself, providing your target audience with more of the things they want.
 

The Why

It’s kind of self-explanatory, but diversifying your stock diversifies your customer base. Whilst you don’t want to alienate your loyal customers, diversifying is a good way to increase footfall or web traffic, providing something novel and exciting to a whole new target audience.
 

The How

If you’re not sure where to start, the best place is with your existing client base. What would they like to see more of, what can’t they get anywhere else, what would enhance their shopping experience? Once you’ve established what will sell, you can start looking around for products and brands that fit the bill. This where trade shows, like Jacket Required, come into play. This is where you’ll find a whole collection of brands in one place, meaning you can find what you’re looking for and ensure the quality and ethos of the brand match up to your own business values before you write orders.


Discover the brands that will make your product line-up stand out from the crowd at Jacket Required AW20 this 22nd and 23rd January at The Old Truman Brewery.
 
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