Talk of "flash sales" as seen on sites like RueLaLa were in heavy discussion as the panelists feel they are changing the way the structure of shopping for consumers. They believe this could potentially threaten designers who can't afford to put their items on sale price. The panelists also felt that these "flash sales" can bring a separation of being excited about a brand to the actual point of purchase to consumers.
Matthew Snodgrass brought up the fact that, "Most fashion companies only spend 5% of their budgets on marketing which creates a barrier in the industry". As the other panelist agreed, he talked of fashion designers being behind on the social media trends which is negatively affecting them while other brands are building relationships with their consumers through social media.
Yuli Ziv raved on blogging and the business advancements it can place your company in. Since we are living in a "Reality TV culture", blogging is a great way to get your readers up close and personal with an inside scoop on your life. Rafe Totengco says he receives more positive feedback while tweeting "behind the scenes" than he does when tweeting on his collections. Twitter and blogging brings you closer to your current customers creating a long-standing relationship.
For more information on the seminar or live video, visit gothammediaventures.com
- Katie Evans
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