| So you just went into business selling your cute | | | | Investing in your own website can be costly and |
| designer baby clothes and even though it looked | | | | risky in hard economic times, so starting off on a |
| great on paper, you are really struggling to make | | | | well-established website that caters to your baby |
| sales. Your per-item cost is way too high and your | | | | clothing business can be a great way to save both |
| profit margin is way too low. The boutique owners | | | | you and your customers' money. Just remember to |
| you've approached are telling you sales are down and | | | | price your clothing competitively since online shoppers |
| they just don't have the money to spend on any | | | | are always looking for the best deal. |
| new inventory. You are running into a wall. So how | | | | Parents aren't the only ones who are watching their |
| do you re-invent your business model so that your | | | | wallets in these tough economic times. Business |
| baby clothing business can succeed in an economic | | | | owners are as well, especially retail shop owners. |
| recession? | | | | These customers are vital to your custom children's |
| First, you need to re-invent your product. In our new | | | | clothing business and you can't afford to lose them. |
| financially aware society, consumers are spending less | | | | You may want to mention to them that you have |
| and less. Parents are choosing more affordable | | | | changed your product so that it is now more |
| clothing options for their little ones. A good idea | | | | affordable for their customers as well as for them. |
| would be to cater your product to the new | | | | You have budget-conscious parents in mind and |
| budget-conscious parent by lowering the retail price. | | | | therefore wish for your baby clothing to be one of |
| Of course you need to lower your expenses in order | | | | the lower priced items in the store so that the shop |
| to do this. Re-evaluate your per-item costs and | | | | owner will have a quick inventory turn-over. If shop |
| where you can save money. Would using a new | | | | owners are still hesitant, offer a net-30 or net-60 |
| wholesale clothing supplier help bring costs down? Or | | | | payment plan which allows them 30 or 60 days to |
| perhaps offering white garments only may help to | | | | pay on the invoice. This gives them enough time to |
| save money. White garments tend to cost less than | | | | sell the product and pay for it with the proceeds |
| colored garments when purchasing on a wholesale | | | | instead of paying in advance. If your wholesale |
| level. Also research your embellishments and how you | | | | customers still insist that they simply do not have the |
| can save money. Would heat transfers save money | | | | money to purchase your clothing for their store, |
| over screen prints? Can you use rhinestones instead | | | | offer to work out a consignment deal. This way they |
| of swavorski crystals? Or perhaps you can just use | | | | do not have to pay you up-front for the product. |
| clear crystals instead of colored ones since these | | | | They only pay you when your product sells so they |
| tend to cost less. What sacrifices are you willing to | | | | are out no money, usually on a monthly basis. It is a |
| make in order to bring costs down for both you and | | | | win-win for everyone since you are, in affect, |
| your customer? | | | | offering to put money in their pocket at no cost to |
| Thinking outside the box in tough economic times is | | | | them. How can they say no to this? |
| always a good idea. You can save on expenses | | | | Recessions may lead consumers and business owners |
| outside of your product, like overhead costs. Opening | | | | alike to spend less, but they don't cause a significant |
| an internet store, as opposed to an actual retail | | | | downturn in birth rates. So whether the economy is |
| location, is the best way to save overhead costs. | | | | flourishing or failing, people are still going to have |
| Try utilizing internet websites that allow you to list | | | | babies. And all babies need clothes. And all parents, no |
| and sell your garments online for a per-sale fee. Even | | | | matter how small their budget is, want cute clothes |
| paying a small monthly fee to set-up an online store | | | | for their precious little ones. So don't let a slow down |
| through these websites may prove to be well worth | | | | in the economy slow you down! Just make sure that |
| it. Your profit margin for retail customers is much | | | | your business plan is constantly changing with the |
| higher than wholesale customers, so it is definitely | | | | times so that you can easily find success no matter |
| worth having an online avenue to sell your products. | | | | what financial crisis we may be in. |