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Few industries have a more complex set of commercial launch activities than fashion. Over the past five years, the evolution of technology and the impact of social media on the sales processes have accelerated the increase of requirements onto commercial teams.
Strategically, it is incredibly important to evaluate regularly if your brand and sales channels are well aligned with your customer channels, but also with your development and supply capabilities.
We often find that the day to day pressures that executive and commercial teams are dealing with just make it very difficult to regularly take a step back to focus on strategic analysis or the mapping out of beneficial adjustments to processes or tools.
As a result, you may feel that you are just focused on keeping up with demands, broadly achieving goals (possibly spending quite a bit) while not really being aware of where the real opportunities for your business could be.
That is where we come in. Our expert consultative strategic approach is designed to help fashion businesses like yours improve their commercial strategies and processes. We do that in a practical way, with real steps and solid, actionable recommendations.
With our extensive experience in the fashion industry, there is an understanding of the complexities and ever-evolving nature of this sector. Our commercial strategy service covers all channels, including e-commerce, retail, wholesale, marketplaces, licensing, and distribution.
Our team collaborates with yours, whilst always keeping an eye on specific needs and goals, to develop a comprehensive commercial strategy.
Taking a holistic view, we understand the fashion team dynamics. The close relationship between sales and marketing, product development, and the importance of the inclusion of the supply chain capabilities as well as matching technology solutions.
If you are as committed to stay on top as your business evolves as we are helping you achieve that, we invite you to contact us for a first discussion.
Not sure if a commercial strategy review is what you need?
If you are unsure which of our services would be best for your business, our D.O.C.S. review may be a great start. This quick but comprehensive review looks at the business Directional, Operational, Commercial, and Sustainability status and the ability to deliver the current strategies. The result should highlight where improvements may be needed and would bring the most value. You can then use that information to make decisions internally or with our guidance.
Featured: Six reasons why siloed fashion teams fail to maximize commercial strategy success.
As a fashion business owner, you understand that your company’s success is dependent on the combined efforts of all your teams. However, if each team acts in isolation from the others, it might lead to a plethora of issues that jeopardize your business goals.
What if your marketing team has created a campaign that is not in line with the requirements and goals of your sales team. The campaign may at first generate attention and curiosity, but if it does not result in support from sales and customer retention, it will be ineffective. Similarly, if your product development team generates a line of products that do not relate to your brand message or the price points that buyers are prepared to pay, it can lead to declining sales results.
A segmented commercial strategy has resulted in a mismatch between the individual teams and their aims in both examples, resulting in a less-than-ideal outcome. This is just one illustration of how a fragmented approach can undermine your business.
But this does not have to be the case. You can achieve your commercial strategy goals more effectively as a team and consistently by encouraging close collaboration and communication across your sales, marketing, product development, and supply chain teams. This involves breaking down boundaries between teams, promoting cross-functional cooperation, and establishing transparent communication channels.
This methodology has multiple benefits.
- Sales and marketing can establish client wants and preferences, which can then be used to guide product development and ensure that the right products are created and available in the supply chain.
- Product development enables the creation of products that meet the wants and needs of the intended audience, increasing the likelihood of sales success.
- The supply chain team can ensure that products are readily available when and where they are needed, which improves the customer experience and boosts the chances of a sale.
- Close collaboration between these teams can help with the detection and resolution of any bottlenecks or issues in the manufacturing process, enhancing efficiency and reducing the possibility of lost income due to product unavailability.
- Collaboration can also assist in inventory optimization, decreasing the risk of overstocking or understocking, which can result in missed sales or excess inventory costs.
- Sales and marketing, product development, and supply chain teams can develop a thorough understanding of the business, the commercial strategy and its clients by working collaboratively, allowing them to make informed decisions that promote sales success.
You can ensure that everyone is working towards the same goals, sharing insights and expertise, and harnessing the strengths of each team to generate success by eliminating silos. This can result in more creative and effective marketing efforts, more successful product launches, and a more streamlined and efficient supply chain.
In summary, a compartmentalised approach might stifle your fashion company’s ability to achieve its commercial goals. By encouraging team collaboration and communication, you can develop a more coherent and effective approach that promotes results and prepares your business for long-term success.
“We have helped so many fashion businesses to make incredible progress.
However, we all know there is still so much more to do to improve the industry.
Let our team guide you as you create positive change for your shareholders and people. Start by asking us about our transformative consultancy and mentoring services.”
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Further reading: Useful articles for you.