“mark-down, which discounts the selling price to customers and, so long as demand is ‘elastic’, results in increased sales of the product line. However, this is an expensive method of selling products, as it reduces the profit achieved on the products. In fact mark-down is the single largest cost to a fashion retail business after the cost of the products themselves. It is worth remembering at this point that the main – and frequently only – source of income for a fashion retailer is the profit from the sales of its products. Less profit per garment means less income to pay its bills. Furthermore, this tactic is less effective when general trading conditions are poor, as the competition is usually doing the same thing. It is vital then that the fashion retailer knows what its customers want and are expecting. Problems in defining and then keeping up with changing customer needs and expectations are arguably the most important factor in successful selling. Large retail businesses like Marks & Spencer”
― Mastering Fashion Buying and Merchandising Management
― Mastering Fashion Buying and Merchandising Management
“When I give food to the poor, they call me a saint. When I ask why the poor have no food, they call me a communist.”
― Dom Helder Camara: Essential Writings
― Dom Helder Camara: Essential Writings
“People are persuaded to spend money we don't have, on things we don't need, to create impressions that won't last, on people we don't care about.”
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