We, as one of the UK's leading apparel wholesale manufacturers, will
explore the details of BFCM and, as a company that has grown many successful
brands and many failed, advise on how to effectively plan and strategically
implement BCFM.
BFCM is an abbreviation for Black Friday and Cyber Monday,
and it is the largest shopping period that begins the Friday after Thanksgiving
and ends on Monday. It is a time when both retailers and e-commerce stores
offer large discounts on their products in order to maximise that quarter's
sales, and because it is such a popular time, it really works.
The story of BFCM:
BFCM has its origins in the United States. Historically,
Thanksgiving was known as the 4-day weekend, when many workers in the 1950s
declared themselves sick the day after Thanksgiving and used it as a shopping
day. A combination of this and post-war consumer spending resulted in
successful home appliance sales in areas like Philadelphia. The following chaos
(as often seen in retail stores today) was dubbed Black Friday by law
enforcement, and when the term was picked up by New York newspapers it spread
to other states. In the 1990s, accountants referred to the terms black and red
for profit or corporate debt and the Black Friday association, with increases
in sales and additional cash flow that led to its use as a BFCM to maximize
profits that quarter.
Is everything really advertised and do online brands benefit
just as much as retail companies?
Historically, retailers have always benefited much more from
BFCM than online stores. However, you need to keep in mind that the ecommerce
boom is something new and the trends over the past few years show that
ecommerce businesses are actually benefiting more. As one of the UK's leading private label clothing manufacturers, we've seen how successful some brands can be as they can
move large inventories very quickly and during times like these when consumer
spending is rising and more people are likely to buy. in discount marketing;
it's a perfect recipe for successful sales and ending a solid quarter.
How to plan your production before BFCM:
This is a difficult problem to solve as there is no hard and
fast rule as to how to manage your production during this time. All brands
working with UK apparel producers are aware that BFCM preparations should begin
in March. Yes, you read that right, March. I know you are thinking right now
that just a month away from BFCM you are, so to speak, screwed with us.
Well, here is some good news: As one of the UK's leading
clothing manufacturers, we offer one of the fastest turnaround services out there.
Our white label apparel service enables you to go from concept to market in
just 10 working days. Yes, you read that right too; only 10 days. We are not
going to explain our products and services in detail and deviate from the
purpose of this blog, but leave this link below so you can learn more about
what we do and how we as one of the few UK clothing manufacturers really offer
better quality, better service and more efficiency for your supply line;
Now let's get back to business: how to plan production in
advance; You really want to make sure you have your most popular products in
stock. Make sure you have a good sizing that weighs more in medium and large
for men’s clothing and small / medium for women’s clothing. This can vary from
brand to brand depending on your customer base! Our personal opinion (applies
to BFCM only) but we prefer to have overstock and take weeks to cover old stock
and then miss out on disappointing leads / customers.
How to opt for discounts:
Similar to the above, there is no hard and fast rule. It all
depends on your margins. If you're getting a 400% margin (which isn't that
uncommon in B2C fashion) you can safely add 30% of the MSRP and still be pretty
comfortable. I think the real answer to that is to make sure you know your
margins, what you can afford to sell in competition with other brands, but
without putting yourself in a position where you are barely making any profit
and your inventory levels use up. It's very simple: know your numbers!
Overall, I hope you found it helpful. As one of the UK's
leading apparel manufacturers, we always strive to bring free value and content
to everyone to ensure brands maximize their chances of success. If you are in
need of a fashion manufacture or would like to learn more about our products or
services, please leave your contact details below and one of the team members
will be in touch to discuss how we can offer you apparel manufacturing services
in the UK.
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