To Launch or Not to Launch
I have been working steadily towards launching my clothing line and now that I am at the point where I can really get the ball rolling I am hesitating a bit. The economic climate is such that it is not necessarily conducive to launching a new product. Other SUN bloggers have been saying that buyers don’t necessarily want new products. I had previously thought that an injection of newness is what buyers did want because it would create incentive to buy. What sold well last year won’t necessarily sell well this year as people have already been exposed to that product and don’t need yet another of the same.
With more bad economic news day after day will people continue to spend? Will baby boomers who are starting to retire, in fact be able to retire? Have they smartly moved their retirement funds to more secure investments?
I think launching in the right marketplace is critical with of course the right product. People are still spending, in fact while travelling in Italy where goods automatically cost 50% more, I have come across quite a few Americans 35 and older who are still spending on unique products that demonstrate exceptional quality. This proves to me that even though we are in shaky economic times, it is still about having the right product at the right price at the right time.
What are your thoughts on launching at this time??
September 24th, 2008 at 10:56 am
What type of clothing line are you thinking of launching?
September 24th, 2008 at 2:03 pm
Thanks for your interest Joanna!
I am planning on launching a misses coordinated separates line that is trend inspired but designed with a woman’s body in mind that retails between $70-$130. The garments would be worn out to dinner or to a birthday party when women like to get dressed but not something too formal. I am targeting a segment of the baby boomer market; a fit, stylish woman that has an active social life.
What do you think?
September 24th, 2008 at 9:04 pm
I think its a good idea. Yea we are looking at some challenging economic times, but people will spend. From a guys perspective women seem to beless price sensitive when it comes to shopping because its somewhat of a catharsis, at least for aunts. So if shopping helps right a bad day, starting a clothing line during these economic times wont be a bad idea. it might be what some women need…good luck in what you decide to do.
September 25th, 2008 at 1:07 pm
Congratulations for getting to this point in your business venture! You have options…and the decision to target a niche group is what I feel will carry you out of this downtime. Baby Boomers have already started to retire…I think its a good time to launch conservatively…maybe after we get a new president in place.
September 25th, 2008 at 4:59 pm
Some businesses can thrive in bad economic times. I have found that some of the work that I do can really benefit from a turn-down because it allows me a lot of leverage with key vendors. I am curious if there is an advantage like this that you could harness?
Women’s clothing is NOT an area where I know anything. But I would tend to agree with Rodgrio that waiting for a couple of months might make a lot of sense. You could still start to ramp up, but don’t enter into any binding contracts.
Good luck.
September 25th, 2008 at 6:59 pm
In the immortal words of Nike - Just Do It
You sound like you’ve done your homework and are essentially ready to roll so go. Like you, others may be holding back waiting to launch during better times - less competition for you? maybe. Wait until the economy gets better and you may be one of many that jumps into the frey. Have faith in your product. Go. Do it now.
September 26th, 2008 at 10:36 am
Thanks to everyone for your great feedback!
September 30th, 2008 at 3:52 pm
Are you at the point of all the plannning and countless hours that it is a bit scary and yet exciting to put yourself out there. I am at that place as well. If you have the niche even during these tough times I say go for it.
October 2nd, 2008 at 2:44 pm
I agree with the “Go For It” group : )
As you said, people are still spending, but just at a slower rate. My PR clients who are launching new products are of the mind that while most companies may be holding off on their product launches, we’ll jump into a pool with less competition. And our media contacts love that we are able to still pitch them on these unique products as well - because that’s what their readers and viewers want to see - regardless of the economy.
Best of luck!
October 3rd, 2008 at 10:35 am
Stacey…yes, that’s exactly where I am.
I am going for it! When the going gets tough, the tough get going, right? Everyone warns that you have to be a risk taker in order to be a successful entrepreneur! So, there’s no better time than the present.
October 7th, 2008 at 10:02 pm
Hi Kristen,
The current economic crisis should not be taken lightly, however, there are always reasons not to start or launch a business. I believe there is always room for good products with good service. Do your due dilligence, write your business plan and work the numbers before you embark on you business. Know as much as you can financially to see if you can be successful no matter what the climate. If your business model works, you may want to go for it!
October 8th, 2008 at 10:11 am
Thanks Jennifer!