Presales in the fashion industry is a crucial process that happens before a customer makes a purchase. It involves engaging with the customer, educating them about the products, offering personalized options, and building trust. Here’s a more detailed breakdown of the key steps: 1. Customer Engagement 2. Product Knowledge and Presentation 3. Styling and Customization…
Net Promoter Score (NPS): A Tool for Measuring Customer Loyalty NPS is a powerful metric that helps an apparel company gauge customer satisfaction and loyalty. By categorizing customers into promoters, passives, and detractors, you can refine your strategies to retain loyal customers and convert neutral ones into advocates. Unique Selling Point (USP): Why Your Apparel…
Open to Buy (OTB) is a budgeting tool for retailers to plan how much they can spend on new stock during a specific period. It ensures the right inventory levels to meet demand without overspending or overstocking. OTB Formula OTB = Planned Sales + Planned EOM Inventory – Current Inventory – On-Order Inventory Example in…
