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Keeping Track of the Risen & Fallen Women’s & Children’s Brands

Several years ago the number of brands appearing in the NextGen Women’s and Children’s Pricing Systems numbered just over 4,000 each.  Today the number is triple that.  The growth in number reflects New brands being introduced continually as manufacturer’s, wholesaler’s and retailers create new labels for new products and to keep the identities of existing products fresh.

The growth also reflects obsolete brands–those associated with discontinued products and those replaced with fresh brand names.  NextGen continues to show obsolete brands (connoted with a trailing X) to alert buyers and inform the buying/consigning decision.  As a rule, obsolete brands should not be purchased or consigned for resale as they often mark apparel that is out-of-style or at least out-of-favor among brand-conscious customers.  If the decision is made to purchase an item, the NextGen  Buy/Consign and resale prices suggested in the NextGen Pricing System drop to the lowest level.  Carrying too many obsolete brands can tarnish a Resale store’s reputation.

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Off-Brand Pricing

Since NextGen first built its Children’s Pricing System in 2011, the number of children’s off- brands and no-name brands has increased dramatically.  So much so, that NextGen has had to add a “bottom” brand level and corresponding resale pricing specific to this group.

In 2011, we would never have imagined apparel being offered at such unforgivably low prices.   Despite numerous media accounts of overseas factories employing children in 19-to-20-hour shifts, often for seven days a week, for wages as low as 6 ½ cents/hour to manufacture it, this clothing and footwear continues to find its way onto our sales floors in the U.S. and Canada.

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Smart resale pricing – are you building customer loyalty?

This blog continues in the spirit of the “operating by guessing” theme that was addressed in an earlier post, and is specifically prompted by the inconsistent pricing found during a recent survey of independent resale/consignment stores.

How is it that nationally recognized jeans in identical style and fabric are featured at 3 different price points in the same size in the same store?  Or how about a beautiful pair of premium brand jeans priced in the bargain basement category?  These are examples of inconsistent pricing that represent a lost opportunity and money left on the table.  Typically one quick tour of the sales floor reveals if pricing is a function of guess work or an organized approach – a system.

The value of a pricing system benefits the bottom line and builds shopper confidence in you and your  prices.  It suggests a pay price based on brand, item type, features, condition, and market demand.  In the case of the NextGen POS, the system also provides instant price check capabilities for owners to determine retail prices, real-time.

A pricing system is a terrific training tool for new buyers…and when dealing with consignors helps to keep subjective assessment to a minimum.  Consistent pricing keeps those hangers turning, and is a boost to the bottom line.

Many retail professionals assert that comfortable shoppers are confident shoppers, and confident shoppers become loyal shoppers.  It all starts with smart resale pricing.  Are you building customer loyalty?

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Consignment Software Review

NextGen Resale and Consignment  is a service bureau providing know-how, software and support to owners of resale and consignment shops.  NextGen has grown from supporting stores selling used children’s apparel, toys and equipment  to stores selling juniors and women’s apparel and accessories.

NextGen clients buy outright and accept items on consignment.  They sell new merchandise and used.  All are brick and mortar operations; a small number sell on-line.  Some have multiple shops, most only one.  All require responsive how-to support as well as technical support.  All utilize NextGen’s pricing system to keep prices current, and save time spent on buying, pricing and related training.  All welcome as many features as they can get.

Initially, NextGen contracted with one of the few POS vendors supporting both consignment and buy-outright operations to customize its offering by building in NextGen’s buying/pricing application.  In the end, the vendor was unable to produce, and NextGen had to forego its investment and renew its search—this time in a more diligent fashion.   After an exhaustive and systematic review, we found Liberty 4, by Resaleworld.  It was, is, and remains the only software that satisfies the essential demands of our varied clients:

  • First and foremost, capable of seamlessly delivering our off-line and on-line women’s, children’s and juniors pricing system
  • Full-featured consignment as well as buy-outright modes—clients are increasingly using both
  • Fully supports the acquisition and sale of new merchandise as well as used
  • Supports on-line as well as off-line sales
  • Available for purchase and installation, or on a monthly subscription basis as an internet service
  • Supports multiple locations via a private network or the cloud.
  • True ‘on-call’ technical support—not  the as-available’ technical support characteristic of the little POS vendors that dot the resale & consignment software landscape.
  • Lots of features—the most of any POS software in the resale industry

NextGen’s configuration of the Liberty 4 POS system by Resaleworld works for NextGen and our clients.