Her Magazine is New Zealand’s only women’s business lifestyle magazine! Her Magazine highlights the achievements of successful and rising New Zealand businesswomen. Her Magazine encourages a healthy work/life balance.
Issue link: https://viewer.e-digitaleditions.com/i/86221
:hang on help is on its way Hang on… help is on its way? As her company celebrates its 20th year in business in 2012, Annah Stretton asserts that to remain the same is to lose relevance IT'S STILL TOUGH OUT there and I for one, am totally perplexed as to why we haven't yet turned a corner on this terrible recessive trading environment that we have all been battling for so long. Though we have high spots, trade ultimately is as unreliable as when we were sitting in the middle of what is now known as the 'Global Financial Crisis'. When evaluating all the problems within Spain and Greece, I'm sure the expected bailouts from their EEC neighbours will not help stimulate their broken economies. They will simply wipe government debt and the whole vicious cycle will start again, so it will not be a sustainable solution. Preferably it's about making positive lasting changes and doing things differently. It truly is time for people to wake up to the way their governments are endeavouring to balance the books. Money-in needs to equal money-out and as with any good business, there will be some things that we simply cannot afford. I have heard many people talking of a zero cost budget. Basically, if a business cannot increase their sales they simply stop spending and I'm sure there are many operations looking at this option. I liken the sales retail drop that occurs during June and July in NZ to the birth of my children. I distinctly remember being pregnant with Edward, my second child and thinking 'this child birth thing isn't hard'. I can't even remember being in much pain. Yep, I'd decided delivery really was a walk in the park… not! Halfway through Edward's birth, experiencing extreme levels of pain, I realized it really was a bad as they say, if not worse!' Giving birth hurts, don't let anyone tell you differently! So does trading in the winter months in New Zealand. But it's not just us, Australia is also not immune. Recently, one of our competitors in Launceston launched a 70% off 42 | www.hermagazine.co.nz sale. Really… what's the point of being in retail if all your new stock heads out 70% reduced at the start of your selling season? These are new times for retail and if you've attended any of the many presentations that commercial banks have been running lately, you will know that retail is set to change drastically over the next few years and all because of technology. Just look at the many casualties that technology has already left in its wake; the retail music industry, the travel industry and many would say that the publishing industry is not far behind. Apparently Amazon will now print a single book for anyone wanting to buy the works of a newly published author. Gone are the days of having to commit to 500 printed copies just to get your dream and vision started. Perhaps it's just the semi luxury spend that has gone west at the moment. I was out at one of my favourite restaurants last week. It was a Thursday night, town was seething, parking was at a premium yet there were only three to four tables of two occupied. Unheard of and they are so great at what they do; the food, the service, the ambience… yet it doesn't seem to matter. It almost seems the better you are the harder you fall in some cases. Every day I awake and my first thoughts go to how we can retail differently and drive that bottom line. To remain the same is to die! Our research has shown the sales we generate on our internet platform are heavily driven by price, multi-fit and stretch fabrics. We understand the price paradigm and that online shoppers expect exceptional value. We have made a point of offering internet only dresses at $150, whereas these will retail for more in our flagship stores to cover the cost of sale. These online bargains are being snapped up even with a 'no exchange or refund' disclaimer. It is simply non-negotiable; we've had to look at our retail models