Diary entry: Spring retail with Timpanys
For many businesses on the high street and online, retail can be very challenging. While heavy discounting continues into the first few weeks of the new year, this busy period is sharply replaced by a slow down which may continue until spring. How can businesses get prepared for such sharp contrast? What can they do in the meantime, while sales are coming in drips? Here are some thoughts from Timpanys founder, Antonia Timpany, a luxury designer resale boutique. Check out our interview to find out more about the business here.
Since we last spoke, I have just about weathered the storm of February. After the lucrative sales of January, I have to say, it is a killer. This year, from what I have read, UK retail struggled across the board in February despite the wonderful weather on the odd day. It’s really hard to not ride the sales rollercoaster and let them dictate your mood. Note to self: must improve on this. Average sales, coupled with a very expensive leaflet drop to try and drive traffic, I have to say made life at the beginning of the year a little stressful.
Anyway, on to more exciting things. We opened a new office space at 81 Fulham Road in South Kensington. It is a beautiful space for meeting clients who want to sell their pieces. We have also picked up new celebrity clients from shows including Made in Chelsea and The Real Housewives.
In terms of sales, March has been far better for us and we have just confirmed a popup store in Wimbledon village for May. Check out our Instagram for full details on that (@timpanys). Popups can be a very clever way to get your brand in front of new people. They are however expensive, as you are kitting out a new store for a very short space of time. We have done a few now and have a good amount of equipment we can use so it reduces the cost. Would love to hear your comments via email at firstname.lastname@example.org
Tips to take away:
Don’t let the retail sales rollercoaster bring your mood down. Try to think of ways to generate traffic and sales through clever marketing.
Even in downturn, invest in marketing to increase your business/brand visibility, both online and offline.
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