How much should a retailer stock in their lingerie outlet?

February 23, 2017 written by
How much should a retailers stock in their lingerie outlet?

 

What is the maximum limit of deciding what to stock in your lingerie outlet? How much maximum is actually the maximum or is it just that one can stock whatever and whichever they feel will sell. How can that possibly be a good business plan in all probabilities? Because ultimately a day will come when you will realise you have more stock than you could possibly sell, or you will be lost in the labyrinth of styles, designs, brands and their price tags! But many would still contradict saying that more they have the better, as then there will be repeat orders and no customer will be allowed to go disheartened just because their favourite shop does not sell what they want. Such conflicting psychologies to some extent also hints that the lingerie market is vast and hooks in every kind of retailer and accommodates an even more diversified customer psyche. But while the choosy and the practical both coexist parallel to each other, it is also hinting to a problem that we are fast approaching. The problem of confusing the buyer. The dilemma that she might have to undergo while choosing the right piece of lingerie for herself. So what does the retailers and the brands have to say?

DHIRUBHAI VORA

Owner Director Sagar Products

Dhiraj Sir_lacenlingerie

Sagar Products introduced the brand of ‘Red Rose’ in 1978, for manufacturing ladies undergarment under the Director ship of Chandubhai  Vora.  Mr. Dirubhai Vora has been the face of the brand since its inception and has been responsible for its evolution, the growth and the expansion. Today it is regarded among the five largest brands in ladies panties in India.

With changing trends in fashion, even the undergarments needed a change from being a mere necessity, to being able to flaunt it as a fashion statement. They hence, understood this urge of the modern woman and have innovated more than 250 varieties in panties and over 100 designs in slips and bedroom nighties.

Red Rose also, introduced the ‘Low Waist Panties’, designed for the teenagers to be worn under their low waist trousers or jeans.  Not to forget their “Pregnancy Panties’ made for the pregnant women, allowing the ladies as well as the child in the womb to breathe freely.

First of all for obvious reasons, the number of brands that you stock depends majorly on the size of your retail outlet. Even today, a majority  of Hosiery stores (which is the maximum category) operate in a small area of around 150-300 sq feet. Ideally, a shop with say an area of around 200 sq feet should only look at managing limited number of brands, as keeping more brands is not viable both from a customer as well as the business point of view.

The average and more business oriented mix is generally 2 brands in panties, 2-3 brands in nightwear & 4-5 brands in bras. However, today, the categories have increased which makes it even more challenging. Earlier it was just bras, panties, camisoles & nightwear. Now, we also have shape wear, lounge wear, sportswear, beachwear, swimwear, accessories, maternity etc. Also all these are high value categories which the retailer does not want to miss selling. Also, today there is an influx of unbranded/ Chinese products in the market. However, in the long run, they are not viable as ultimately today’s consumer is extremely smart & aware about the importance of comfort & quality which she can only get in an established brand. Also, there is a higher level of consumer loyalty when it comes to lingerie brands.

For all the newer & fashion categories, the shop also needs to have adequate display space as the sale of these categories depends a lot on displays & visibility.  And lingerie too these days demand such visual treat, gone are those days when it was treated more like a ‘boxed item’. So choosing the right mix of brands and styles keeping a close eye on what sells and what doesn’t makes for a wise retailer who utilises his/her space the bet way to stock in the right products.

 

 

 

JUNAID

Owner, Betty (Retail outlet), Mumbai

Betty 1

 

With an experience of more than 25 years Junaid bhai has always been ahead of business when it comes to stocking it right in his retail outlets. With stores in the most coveted locations of Mumbai, Betty is a known and most preferred name for many women. Stocking brands of International fervour have been a specialty for Junaid bhai’s retail journey. And with stores at Hill Road, Lokhandwala etc he has always chose to stock what’s in trend!

Retailers should be a little choosy while selecting what to stock and the same should actually be more to do with the area of the store and what TG they are catering to. Of course stocking up everything creates a chaos and the customer is mislead and confused. If you look closely at our operational format, you will see we only stock international brands and their latest designs or designs that gives women a desirable fit.

Owing to this our stocks are priced at 600 and above. This is actually a tested format and does good for customers who are upmarket, aware and wants the best fit and comfort when they spend money. So they are aware and we give them the latest, suggest the best to them. This is only possible when you have a choosy stock at your outlet and know each collection in depth. A small, stylish yet up to date collection is what sets the retailer right on track rather than stocking everything just to sell sell and sell!

The retailer has to essentially decide way before hand as to what they should stock and think in advance and in depth regarding the brands and the format they want to set up. Who does not want to stock and sell everything. But what will then be the USP of the store if they stock one and all? Being choosy might mean catering to only one segment but in the longer run this qualitative sales method is surely a winner!

 

 

 

AMIT SINGH KATHURIA

MD, Tipsy Fashions Pvt. Ltd.

AMIT SINGH

A.P. Enterprises a Delhi based firm which was established in 1994. Engaged in manufacturing of ladies undergarments under the brand name ‘Tipsy’. They have also introduced a nightwear brand in Jan 2014 ‘Bold Desire’.  

Based on the premise of colourful and playful lingerie for the brides and the young at heart.  They believe lingerie should be romantic, feminine & beautifully crafted to give you perfect shape & comfort. In this direction their offerings in numerous innovative designs, colours and style is available within a reasonable price bracket.

Overseeing three manufacturing units based in Delhi and Tronica city with most modern manufacturing techniques and governing the production for Tipsy through regular QC and leading the brand to its success podium from the front, Amit Singh has successfully made Tipsy a household name today!

The quantum of stock and presence of the right number of brands in a lingerie shop is a very pertinent question that exists at today’s time because while on the one hand the online portals are stocking whatever they can lay their hands on, so as to retain maximum customers and pull them to their shopping cart.

On the other hand, the brick and mortar stores are facing their own set of problems owing to customer needs. Customer today gets everything on a click on the portals, so in this competitive era why will a retailer want to loose their customer? To fulfil the ask of the customer, the retailer adapts to a model wherein he consciously keeps adding more and more brands, just to attain a position wherein he can  cater to diversifies customer needs.

Customer today is smart, understands what he/she wants and is demanding as far as lingerie needs are concerned. She knows what to wear and  when to wear in different varieties of shapes, colours, styles, laces etc. So summing up with this from my point of view, a retailer should keep any number of brands and styles as he/she can afford to keep his /her customer demands fulfilled. Gone are the times when the retailer could afford to be choosy and snob when stocking up lingerie is concerned.

ASHVIN SEMLANI

Owner, Sim Sim Nx, Bangalore (Retail Outlet)

Ashvin Semlani

Bringing in more than 20-25 years of retail experience to the table, Mr. Semlani is one of those few names, who have always stood with time and have ensured that he sets examples with his retail choices. With stores in Karnataka and specifically Bangalore, he has not only brought a trend setting example for retail on track but have always ensured that his customers grow fond of his store and come back again for collections he specially handpicks for them.

With the online portals gaining their superiority over the years, there is tough call for the on ground retail outlets. Competition is cut throat and too much pressure comes on the shoulder of the retailer. There was a time when people loved first hand experiences and used to try before they buy. Right now, they have no time to spare they just want to pick things in a click. Owning to this retails outlets are getting challenged.

Challenged for space, challenged for stock quantities. The growing demands of customer is not helping the retailer, as their existing retail space is not increasing with time. So operating from the same four walls, they have to ensure they always stay ahead and not miss the bus.

Its like a vicious competition. What begins from the online portals comes back to the brands who are also posing a lot of competition and almost every two-three months launching new collections, now no retailer can stock all collections in their full range of colours and styles. So this means that they can only cater to customers who’s appropriate range they stock. Isn’t this bizarre? Wish there was a chance to give other colours of a range as per demands with a click, just like it happens online. But sincerely a retailer can’t afford to lose in this race, even though its sad and very aggressive but just to make business and retain a bigger customer strength we have to stock the maximum! Maximum number of choices from every aspect concerned.

 

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