BRIDAL MARKET SERIES: 4 Things to Know About What to Buy at Market
How do you even begin to figure out which dresses you want to buy? It can be a big mistake to simply say “I’ll just buy what looks pretty”, and the whole process can seem overwhelming. You can start to simplify the way you are looking for dresses by colors, sizes, shapes and what you’re missing in your store.
#1 Size Matters
Always make sure you know what the average sizes you have in your inventory, and the average sizes of what you’re actually selling. What is your closing ratio by size – i.e., are you selling half your size 12s, but only a quarter of your size 8s? Breaking down your sales reporting into segments showing the last three months, six months and year, can help you get a big-picture sense of what actually sells. Do you already have 25% of your inventory in a size 12, but realize you don’t have anything in a 22 and you have 4 dresses in a size 24? This is empowering information to have as you write up your orders.
#2 Color and Cut
Along with size reporting, go through your sales and find any common themes of what color and shapes have sold the best in the last three month, six month timeframes. You can simplify your segments by using just a few categories; such as, ball gown, sheath a-line and fitted for shape or white, ivory, blush, and black for colors. Make sure you are watching for trends so you can go into your buy getting ahead of what is hot, right now.
#3 Better Together
Compare the information side by side. Look at your sales for the three categories, as well as your current inventory – sizes, shapes and colors – together. This way you can identify any buying trends brides of a certain size may prefer, or that a fitted dress sells better in an off color than it does in ivory.
#4 The Missing Pieces
How do you find out what you’re missing? The best way is to ask brides who visited your store and chose not to buy with you. What did they end up purchasing elsewhere? Create a simple form that can be sent to prospects that did not convert to a purchased dress. Then study it to figure out what you need. If you haven’t already done this, come up with a plan to get this data for future buys. It will make your life a whole lot easier.
Join us for our Poppy Talk Webinar, hosted by Janice Yoder on February 27th 2023 to get you started on preparing for Bridal Market
Check out Part 3 of the Bridal Market Series: How Much to Buy? Use the 45% Rule