Fast Fashion Continues to be a Treasure for College Stores

At the beginning of June, two groups of savvy, college store professionals spent two full days trolling the LA Fashion District in search of hot, fashionable merchandise to meet the growing demands of their customers. The 16 professionals represented nine schools: Auburn University, Brigham Young University, Cal State Fullerton, Cal State Long Beach, Oklahoma State University, University of Arizona, University of Texas at Austin, University of Idaho and University of Utah. 

Each school arrived with their agendas, goals and areas to focus on. While schools such as Auburn, Long Beach and Brigham Young already had established fashion sections in their stores, others such as Oklahoma State and University of Idaho arrived with express intention to kick off their new boutique store or section using the merchandise they purchased while there in Los Angeles. With current fashion apparel and accessories at 20-60% below wholesale prices, everyone was sure to “win” during this trip. 

In August of 2012, the first ICBA LA Fashion District Excursion was initiated by ICBA to accelerate members seeking new ways to capitalize on their customers’ desires for non-imprinted fashion, and to replace lost revenue caused by changes in course materials. 


With more than 2,000 shops crammed into the LA Fashion District it was agreed that without Bob and Angie from The Insiders Buying Office, an ICBA Program Vendor, navigating the area for us, choosing the most appropriate stores with the newest fashions at the best prices would have been extremely overwhelming, challenging and potentially even more exhausting than it already was.

The first day focused on “show rooms”. These shops displayed, some quite eloquently, and others not-so-much, one of each available item. College store professionals perused and shuffled through merchandise to find just the items that made sense for their customers. While one school might have found an abundance of treasure in one shop another might pass completely. The second day included warehouses where buyers rummaged through boxes and rows of hanging merchandise to reveal their next best-seller. Since fashion isn’t complete without accessories buyers were turned loose in a three-story building crammed with jewelry, bags and purses, belts, hats, cell phone covers, cosmetics and much, much more—even plush toys were discovered.

One of the best rewards of the buying trip was the peer-to-peer networking. With each person openly lending their opinions and experiences, store-to-store sharing and learning happened at every juncture. When I asked participants what they liked best about the buying trip, among references to variety of products and great deals, they said,

• “As a first time participant and new Fashion Store opening, it was very helpful to talk to others and get ideas for our store.”
• “…finding out what other store college stores are doing in this merchandise category.”
• “I also love going with other college stores and hearing what works in their stores.”
• “I enjoyed meeting everyone and exchanging ideas.” 

Everyone can learn from the LA Fashion District Buying Excursion. This list is comprised of pointers I collected from Bob and the buyers:

   

• Be ready to do business. Before travelling, notify your credit card company. Bring your business tax certification/number. It’s also a good idea to let your shipping department know your purchases could arrive before you return or before you have time to complete the in-store procedures. Many products require that they are shipped the same day they’re purchased, while others can be held for later ship-dates—it depends on the vendor.
• Budget, plan and be prepared to bend. Have an idea of what your budget is and what you plan to buy, but be flexible and open to items you hadn’t considered. Ideally you want to know where every item will go in your store, but if you don’t, don’t let it stop you from moving forward. With hot new products at low prices it could be a low-risk way to test a new style, category or product. 
• Price to sell. With apparel and accessories at 20-60% below wholesale prices you should be able to sell most products at a high enough margin that even if you have to mark something down to 50% off, you’re still making a profit and not losing it. Advice shared among buyers was to set two or three price points that you know your customers are comfortable spending and then select merchandise priced to support those price points.
• Pay attention to sizes. Many fashion items are created with different customers in mind. LA Fashion District merchandise may not be designed for the traditional college student, but rather for the smaller frames of Asian and Latino customers—an important thing to pay attention to.
• Make it your own. In some warehouses cut or missing labels is the norm. Large companies, such as Forever 21, may drop an order and let a warehouse sell it, but only with labels cut or removed. Many collegiate retailers turn this into a branding opportunity by creating and using their own tags.
• Buy now. Be decisive and ready to buy what you see when you see it—what you see today won’t be there tomorrow. Knowing your customers’ likes and dislikes makes this much easier.
  
• Don’t overbuy. It’s okay to pass. If you have to think on it too much you may want to pass on it. As critical as it is to buy the right thing, it’s just as critical not to overbuy. 
• Don’t get pushed around. Vendors are not allowed to pressure or push you into buying. Remember this is your business and you know your customers best. It’s your money—not theirs. This rule applies in the store and everywhere.
  
• Trust yourself. If you’re new to the fashion merchandising category, have a little patience while you learn the ropes. Remember you can tap on your peers for advice, do research and find the education you need. I overheard a buyer saying something along the lines of, “I just know what to buy now. I used to agonize over every item, but I’ve been doing this for a while and now when I see something I just know right away if it will work or not.”

Overall, the 2013 LA Fashion District Buying Trip was considered extremely successful for those that attended. Having had such overwhelming success and interest for the first two years, it is likely ICBA will continue to help coordinate group buying trips for members. Be on the lookout for the next ICBA treasure hunt—and if you have any ideas please feel free to let us know.

For a fast fashion jump-start, try these:
We encourage you all to learn as much as you can, share your knowledge and successes about retailing fashion merchandise and take advantage of merchandise available from Insider’s Buying Office, an ICBA Program Vendor.

• ICBA Fashion Group on Facebook, for ICBA members, is filled with photos, promotions and great ideas. To join the ICBA Fashion Group: 1)  Log into your Facebook account. 2)  Find for “ICBA Fashion Group”. 3)  “Request to Join”, it’s found on the top right hand side of the page. 4)  Once your request is approved, you will be added to this private group.
• ICBA College Stores LinkedIn group is perfect for asking your questions, adding to conversations and searching for what you might have missed. Though it’s fantastic for your fashion questions/research, it’s also the prime place for any topic. 

• Apparel Off-Price/Insider’s Buying Office, an ICBA Program Vendor, makes it easy for you to buy contemporary fashions at 20-60% below wholesale. View their program online when you login to ICBA. See all ICBA Program Vendors. You can also contact sales@appareloffprice.com for more information, please be sure to mention ICBA.

• What vendors do you use? Click here to tell us which companies you use to fulfill your fast fashion needs. Though we’ll take the information anytime, it’d be great if you can let us know by Friday, September 13,2013. From what you and others share we’ll create a valuable resource that you can use to expand and enhance your department assortment.

Written by Sadja Pals, ICBA Marketing & Membership Manager