New Fashion

We find ourselves at a cross roads, the air is calm, the fear subsided and a stir is rising in the factories, fields and high street coffee shops. I am talking about the anticipated economic recovery, or is it a recovery?

Fashion for many is like football, golf or swimming, the pursuit of the perfect game, round or lap, just like sport we who seek to be fashionable, and in honesty that is a large portion of society, sometimes get it wrong in our pursuit for perfection. However I doubt there is any one person on the planet who didn’t have fun doing it regardless of the outcome.

Now as like fashion and sport, the economic stability and development of a nation is distinctly similar. Our great nations across the planet have been striving for hundreds of years to create the perfect social, political, technological and financial system and yet there always appears to be changes afoot. So like the fashions in society, politics, and technology it seems only predictable that finance also had to have its day of out with the old and in with the new. Some might say it was long over due. Now what we all must hope for is that the new heads of finance and development don’t forget all too quickly the bad jacket day they had at the back end of 2008.

We find quite clearly by simply looking around our world that clothing is not the only thing that comes in fashions. Almost anything that you can quantify comes and goes and can be labelled fashion. Sometimes fashions come and go all too quickly like Fawlty Towers (12 episodes). Sometimes fashions hang around way too long like reality TV shows. Sometimes great fashions make a comeback like rock music and the rubix cube and sometimes a fashion re-invents itself like Opal fruits to Starburst.

What we never want to see again is the fashion off bad banking and poor management of our financial institutions nor the big gapping hole left behind by the greed that was the root of it.

Be watchful of fashions in your area. If you see a disastrous pair of socks stamp it out. If you see your MP not pulling his or her weight make a noise. If you have some terrible tunes in your music collection throw them out, and if you see or hear of poor financial practices point it out to the public. We are the ones who can regulate our country, we have the power of the polls; don’t let our money be used recklessly ever again. POINT IT OUT.

Why all things Green will be the new UK high street.

The high street, as you know has taken a battering over the past 6 months. We have lost names such as Woolworths, Wittards, Zavvi, Adams and Morgan and don’t be surprised to see more fall before the recession of 2008 is over. These are indeed sad times for those directly associated with these companies either as employees, directors, suppliers, customers or founders. However in reality we must look upon this as an opportunity to create something better.

Yes, we associate these names with our high street, our childhood and much more the nostalgia could be endless, but if we take even a brief look at history the shops that we know and are losing today played absolutely no role in the retail market of 1850, the early 1900’s or even in the 1950’s. Our retail market has a distinct short term life span and we should realise that beyond a small number of exceptions such as Debenhams, House of Fraser, Marks and Spencer and John Lewis who you will notice have a diverse product range and pitch themselves as department stores, our high street is built for a high turnover and will continue to operate that way.

Stores will come and stores will go unless like the above they adapt to change and provide services and products that are diverse enough to weather the bad times of short term product demand slumps and able to take advantage of product demand peaks. The leaders and prime examples of adaptability in recent years are supermarkets. Supermarkets like Tesco, Sainsburys and Asda are fast becoming budget department stores. Although they also have greater history than most stores they have over recent years taken the proverbial baton and ran with it, providing what the people demand when they demand it. Hats off to them for ingenuity.

Now what has this got to do with the new high street being green? After the bust of the early 1990’s the high street facades that were left dull and empty were bolstered by coffee shops and patisseries. Just like then faced with such grim times, we all know that eventually, although appearing highly unlikely at times, that the bad times will end and we will once again find ourselves hiking around shopping centres across the country and surfing internet stores around the planet. So, what will fill the high street facades and online shopping centres? Well we can’t have online coffee houses in a literal sense. Actually not yet, but who knows what the future holds.

But, what will fill the spaces are environmentally and ethically conscious stores. Why so? Because the world demands so.

Our society is an ever growing mass of disapproval pushing everyday towards items that are produced with an environmental forethought and in an ethically respectable manner. The basis of retail in our society supply and demand will prevail as it always does. Customers at present would probably not purchase based upon products environmental or ethical credentials, or if they would they are currently in the minority due to the current economic condition. However in the months and years to come, when the country is lifted from the dull affair with poverty, consumers will begin to think more deeply about their purchases, because all around the constant reminder of our environmental impact and how we can reduce it will be plastered.

I am not a scientist and nor do I claim to understand either side of the argument regarding global warming fully. I am not even sure if the scientists can stay impartial long enough to see each others’ side. Not to forget that 50 years from now scientific and popular opinion could be dramatically changed by further discoveries. However we cannot deny that if we continue to use our planets natural resources at the rate we are currently doing so, coupled with an ever growing population we will in 30 years time look upon a planet that would be distinctly unrecognisable to our grandparents. Unless we wish to live in concrete countries, having no perception of what green fields or clean air feels or looks like, we must make a change to our lifestyle and stop ignoring what is obvious around us. If we take simple steps the picture will be very different. We must reduce packaging and recycle it, we must replenish those natural resources when it is possible to do so, we must support countries that are developing, we must burn less fossil fuels, we must invest in clean energy sources, we must build more eco-homes. Taking simple steps will have a dramatic affect on the landscape that generations of our race will live within.

As with anything in society we are pushed in the direction of populist opinion, thank you for democracy. Although those in industry who currently profit, and profit hugely from non-environmentally friendly industry, will attempt to influence government and society, popular opinion shall prevail. The somewhat disturbing thought to me however is, those who openly and wilfully defy the logic, could benefit widely from adopting greener methods, practices and processes. Perhaps as with all things in our race, they don’t like change as much as the populous would not like to see our planet change for the worse.

Why the global economic melt down is good for your wardrobe and the retail industry at large.

To put it simply the global economic melt down is not a bad thing for the retail industry or your wardrobe in the long term. “Why I hear you scream?” Once again simple, by the end of the rocky road to recovery the market will become unsaturated and the focus up until and well beyond that point will be you the consumer.
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Companies that lack solvency bring down those companies who have been bothered to operate from a stable business platform. I guess you have heard of the term “loose canon” or “dead man walking” well for far too long companies that have been hanging on by the skin of their teeth have been eating away at those companies who have built themselves up with strong financial foundations and maintained their position through good financial management, transparency, drive and adaptability. The perverse thing being that many companies were willing to idle through the good years of boom, living on the crest of a wave and act surprised when the inevitable occurs. They failed to plan and guess what, failing to plan equals planning to fail.

The loose canon company is living from day to day. In an economic upturn this is fine as their shaky foundations will be masked by high sales volume and exaggerated growth. In recent years, well the last 15 years retailers have forgotten the key ingredient “profit.’ The loose canon company continues along its path of discounts, special offers and giveaways which in theory suit the consumer, because hey “it’s a bargain.’ But, is it really? These discounts and special offers are almost certainly made possible by old stock or discounted stock that the retailer has been able to obtain from its supplier. Who I might add is only too happy to move this stock on to free space up in his warehouse. The result is the consumer ends up with a promotional or discounted product that is pushed by the sales staff. The product does not fulfil the needs of the consumer, or does for a time, until it is quickly out dated by a new release. However the loose canon doesn’t care because the sales box is ticked. This is a triple whammy of misconception and failures. The company has completely missed the point and probably hasn’t made a profit, the consumer goes away with a poor product and to top it off the sale that has been made won’t retain the customer for future business.

This attitude toward sales and products brings about an inherent stagnation. Originality, quality and service go out the window. The consumer is faced constantly with mediocrity. So what does this all have to do with the economic meltdown being good for your wardrobe?

Well the fact is that once we as a county, or should I say world rise from this festering heap of over promoted mediocrity and the wheels of economic rehabilitation begin to turn, you the consumer will be looking at retailers that have come out the other end and will be doing anything they can to please you. Now I don’t mean special offers and discounts. I mean quality products provided by retailers who have a firm grasp of reality. The focus will have flipped 180, away from sales, sales, sales of mediocre products for the sake of sales. Too providing high quality original products with great service so as they can retain their customers. Why the big flip? Because quite simply the retailer will have realised that without consumers, retail is nothing and the retailers who did not provide such services prior to the crash of 2008 lost their consumers first and hey presto BANG!

Anyway the retailer lost his way, but sometimes things have to get terrible before out the other side comes a corrected way of thinking.
Now I guess some of you are shaking your head saying crazy fool. Well look at these examples of flip therapy already beginning in terms of product change.

Auto Industry – Investment has already begun in electric cars. Although possibly too late for some companies in the long run this investment will ultimately provide a higher quality product. Our regular run of the mill vehicle will cease to be pushed and we will have a product that truly serves the needs of the future public. Lower emissions, cheaper to run and quieter.

Food – Actually the food retail sector was ahead of the game on this one. Over a year ago high street supermarkets began introducing products with nutritional guidelines printed on the packaging. The products as a result improved in quality, when consumers can see in black and white what they were purchasing, it is of far greater importance for the producers to ensure that the product they sell is high in quality and nutritionally balanced.

Bank lending – The apparent ‘Damien’ of our current plight. Up until 2008 when Northern Rock hit the panic button, consumers in the UK were allowed to borrow over, or up to 100% of the value of a home they were to purchase! Who came up with that bright idea? Seems crazy when we look in hindsight, but because it was pushed by the banks and corporations and no one in authority thought to put a stop to it, the consumer jumped on the band wagon and accepted that it was a good deal. No, no, no, no. The banks were not caring for their customers as they should do; they were crucifying them with overburdening repayment schemes. However the banks have now begun to return to offering mortgage packages up to 70% of the value of the consumer’s home. This is a balanced approach that better serves the needs of the consumer and backs off the sell sell sell and any cost attitude. Ultimately the mortgage consumer will be better served by a process suitable to their needs.

It is however difficult to see beyond these examples at this time because in reality we have a long way to go to truly revamp the services and products that the world desires. Here is a list of examples of what could be improved to better serve the needs of the consumer in the UK across various industries.

Internet service providers – Although in the UK we pay one of the highest premiums for broadband service to our homes. We receive one of the slowest connection speeds in the world and limits set on downloads are burdensome. Not only that when a problem is reported it can take up to 7 days if not longer for an engineer to attend. In comparison developed nations in Asia receive internet broadband more than ten times faster, limits on downloads are rare and an engineer will attend within 24 hours.

Clothing – In the UK we are faced with expensive clothing that can be indifferent in quality, Consumers in the UK spent 48.55 billion pounds in 2003 on clothing, footwear and accessories. The products we receive should be of higher quality and increased environmental and ethical responsibility.

Products and services in the UK will be drastically impacted by this recession. In the short term this may have detrimental affects upon consumers however further down the road, I am positive that the consumer in the UK will emerge in an enhanced and fortified position of strength.

Raise a well made highly polished glass to the seeds of change.