{"id":6684,"date":"2021-05-19T06:17:06","date_gmt":"2021-05-19T05:17:06","guid":{"rendered":"https:\/\/fashioninsiders.co\/?p=6684"},"modified":"2021-11-28T00:01:55","modified_gmt":"2021-11-28T00:01:55","slug":"18","status":"publish","type":"post","link":"https:\/\/fashioninsiders.co\/podcast\/18\/","title":{"rendered":"E18: Catherine Erdly: Fashion Retail Strategy for Growth"},"content":{"rendered":"<p><iframe style=\"border: none; min-width: min(100%, 430px);\" title=\"018: Catherine Erdly: Fashion Retail Strategies for Growth\" src=\"https:\/\/www.podbean.com\/player-v2\/?i=gbvqf-111b62b-pb&amp;from=pb6admin&amp;share=1&amp;download=1&amp;rtl=0&amp;fonts=Verdana&amp;skin=f6f6f6&amp;font-color=auto&amp;btn-skin=3267a3\" width=\"100%\" height=\"150\" scrolling=\"no\" data-name=\"pb-iframe-player\"><\/iframe><\/p>\n<p>Fashion Retail Strategy for Growth<\/p>\n<p>Meet Catherine Erdly &#8211; a fashion retail specialist passionate about helping creatives get comfortable with numbers. Because let&#8217;s face it &#8211; numbers don&#8217;t lie and if you don&#8217;t know your numbers &#8211; you won&#8217;t be in business for the long term.<\/p>\n<p><b>Episode Notes:<br \/>\n<\/b><br \/>\nIn the course of the conversation, the following is discussed:<\/p>\n<ul>\n<li>Why the traditional retail model was outdated and due for disruption?<\/li>\n<li>Are Bricks &amp; Mortar and physical shops finished? How has the pandemic changed the retail landscape and what is the latest fashion retail strategy?<\/li>\n<li>What are the most common problems Catherine sees small independent brands struggle with?<\/li>\n<li>What does &#8220;success&#8221; look like for a small independent fashion brand and what KPIs should you track if you want to achieve success?<\/li>\n<li>What is stopping small businesses and brand owners to pay themselves? Catherine shares 4 actions you can take today in order to begin to pay yourself a salary from your business.<\/li>\n<\/ul>\n<p><b>Key Takeaways:<\/b><\/p>\n<ul>\n<li>What does a successful brand look like? Success looks different for everyone. You need to define what success means to you, but before you do this &#8211; you must remember that &#8211; before you create a direction for your business, you need to choose the destination.<\/li>\n<\/ul>\n<p>Success overall means having a profitable business that makes YOU happy and fits with your idea of &#8220;success&#8221;.<\/p>\n<ul>\n<li>Most people don&#8217;t dream of having a business that doesn&#8217;t pay them. Most entrepreneurs and fashion brand founders do not pay themselves. Small strategies to combat this situation is to:<\/li>\n<\/ul>\n<p>a\/every time you sell something, make sure you know what the profit of that sale is. How much money are you making from the sale of said item?<\/p>\n<p>b\/ have a sales plan &#8211; know how much you need to sell in order to make enough money to pay yourself.<\/p>\n<p>c\/ take control of your expenses.<\/p>\n<p>d\/believe it is important to pay yourself. Get into the good habit of paying yourself from day one even if it is a small amount.<\/p>\n<ul>\n<li>&#8220;It&#8217;s not about the price, it&#8217;s about the value&#8221; &#8211; the emergence of the conscious consumer.<\/li>\n<li>Your biggest growth factor is time and consistency.<\/li>\n<li>Set healthy KPIs for fashion retail strategy. To do so, you need to regularly:<\/li>\n<\/ul>\n<p>a\/ review your prices and profitability per item;<\/p>\n<p>b\/ set and review sales targets;<\/p>\n<p>c\/ know what it is your average order value;<\/p>\n<p>d\/ review regularly and know what your stock levels are.<\/p>\n<p><b>Resources:<br \/>\n<\/b><br \/>\nContact Catherine at:<\/p>\n<p>The Resilient Retail Club\u00a0<a href=\"https:\/\/www.resilientretailclub.com\/\" target=\"_blank\" rel=\"noopener\">Website<\/a><\/p>\n<p>Learn how to price your products properly, with profit in mind &#8211;\u00a0<a href=\"https:\/\/www.fashioninsiderstraining.com\/offers\/vGoegiiM\/checkout\" target=\"_blank\" rel=\"noopener\">Pricing for Profit Masterclass<br \/>\n<\/a><br \/>\n<a href=\"https:\/\/www.fashioninsiderstraining.com\/mc-bundle\" target=\"_blank\" rel=\"noopener\">Launch &amp; Grow Your Fashion Brand<\/a>\u00a0Masterclass Bundle<\/p>\n<p><b>About the host:<\/b><\/p>\n<p>Dessy is the founder of\u00a0<a href=\"https:\/\/fashioninsiders.co\/\">Fashion Insiders &amp; Co<\/a>\u00a0&#8211; an online platform supporting fashion and creative entrepreneurs who are in the process of launching and growing purpose-driven brands.<\/p>\n<p><b>Contact Method:<br \/>\n<\/b><br \/>\nFashion Insiders &amp; Co<br \/>\n<a href=\"https:\/\/fashioninsiders.co\/\">official website<\/a>: https:\/\/fashioninsiders.co\/<br \/>\n<a href=\"https:\/\/www.instagram.com\/fashioninsidersco\/#\" target=\"_blank\" rel=\"noopener\">Instagram<\/a>: @fashioninsidersco<\/p>\n<p class=\"p1\">Discover more great content on <a href=\"https:\/\/www.youtube.com\/channel\/UCDx5HDhSfXvbQ_Vi16XLVqA?sub_confirmation=1\" target=\"_blank\" rel=\"noopener\"><span class=\"s1\">YouTube<\/span><\/a><\/p>\n<p><b>If you enjoyed this episode, please leave us a 5*star* rating and a review on iTunes &#8211; it helps us get this podcast discovered by more listeners just like yourself. Thank you.<\/b><\/p>\n<p>To submit any questions or get in touch with topic suggestions, write to us at\u00a0<a href=\"mailto:podcast@fashioninsiders.co\">podcast@fashioninsiders.co<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Fashion Retail Strategy for Growth Meet Catherine Erdly &#8211; a fashion retail specialist passionate about helping creatives get comfortable with numbers. Because let&#8217;s face it &#8211; numbers don&#8217;t lie and if you don&#8217;t know your numbers &#8211; you won&#8217;t be in business for the long term. Episode Notes: In the course of the conversation, the [&hellip;]<\/p>\n","protected":false},"author":51,"featured_media":6686,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6815],"tags":[4153,4220,4198],"_links":{"self":[{"href":"https:\/\/fashioninsiders.co\/wp-json\/wp\/v2\/posts\/6684"}],"collection":[{"href":"https:\/\/fashioninsiders.co\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/fashioninsiders.co\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/fashioninsiders.co\/wp-json\/wp\/v2\/users\/51"}],"replies":[{"embeddable":true,"href":"https:\/\/fashioninsiders.co\/wp-json\/wp\/v2\/comments?post=6684"}],"version-history":[{"count":0,"href":"https:\/\/fashioninsiders.co\/wp-json\/wp\/v2\/posts\/6684\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/fashioninsiders.co\/wp-json\/wp\/v2\/media\/6686"}],"wp:attachment":[{"href":"https:\/\/fashioninsiders.co\/wp-json\/wp\/v2\/media?parent=6684"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/fashioninsiders.co\/wp-json\/wp\/v2\/categories?post=6684"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/fashioninsiders.co\/wp-json\/wp\/v2\/tags?post=6684"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}