We had an insightful conversation with a British Client just recently.
As we were talking about the USA, he stated
"The USA has been a graveyard for UK Brands".
He was right, 100% right.
Why so many failures? Why can't we find the true reasons for this situation and avoid it?
We have a thorough understanding of the USA, field experience and many contacts and let's share with you why the business owner compared it to a graveyard.
Firstly, the American market offer Brands the opportunity to build a $1 million business due to its size.
You have over 300 M people as potential clients.
This gets people Brands' attention and makes them dream.
This is great IF you are prepared to learn BEFORE you go there.
The market is quite different from Europe.
Buyers and Agents work and think differently.
When we deliver our 4-hour USA Fashion Workshop, some recognised Brands with over 15 years' wholesale experience in Europe have told us
"There is too much to change".
To be successful, we must turn every stone in the business.
Our recommendations will mean that your Brand will change or update important areas such as
* Size of the collection - Editing can be a successful tip
* Lookbook - It has to become a buying tool
* Order form
* Terms and Conditions
* New process to reduce duty payment
* New process and sales pitch when speaking to Buyers at a trade show
* New process to handle payment terms and analysing the financial risk
* New content for the emails to the Buyers
* New contract for Agents and management of Agents
Join us for the live event or the webinar. We also travel around the world to deliver it individually to Brands or collectively to Governments or Associations.
Why Brands fail?
Too many young Brands in the USA decide to go there with an FOB price list.
More often than you may think, this choice is coming from a supposed Expert who tells the Brands: "It will be easier for you".
For sure, it will be easier for you!
If you pick up an order, you will still be leaving 60 to 99% of the money on the table!
In addition, you are giving the Buyers, the agents and your partners the wrong signal.
FOB is geat is you are just there to pick up one another BUT NOT to build a growth sales strategy!
The Brand should ask: Do I want to make it easier for me or for the Buyer.
Hopefully, you have answered: The Buyer. You are right.