The philosophy “it is not necessary to see what happened, just take actions to go out of the not nice situation” is the most accepted philosophy in today’s economy. But this time is a little different. We have to learn about the mistakes the brought us to the crisis situation, so that we will avoid to repeat the same mistakes in the future.
Everyone in the fur business got “too greedy”
• Farmers asking always higher prices and making larger and larger quantities , without looking the demands of the market
• Auctions believing that they can sale the materials at any price , using only promotional tricks
• Manufacturers making only classic and believing that the retailers will buy at any price. not making any innovative collections
• Retailers presenting always extreme prices , not choosing smart collections ,not making market research and not trying to minimize their costs
And many other facts that brought the fur sector in the worst position of the last 40 years .
We all forgot the basic rules of any product-market.: Offer – Demand
The farmers worldwide are planning to produce and offer in 2010, 46000000 mink skins, while the market demands only 40000000 mink skins. This will be devastating for them and for the market in total.
The Auctions should always regulate the Quantity-Price limit, not only carrying about the higher price, but also about the future.
The manufacturers have to stop being just furriers and become fashion houses. Producers of ideas and promoters of brands.
The retailers should minimize their costs in order to make more correct prices for the final consumers. Extreme professionalism should be demonstrated by them when they choose the collections for the stores, Market researches should be made constantly and service should be offered to the consumers along with the product.
We all have to find ways to make our products more desirable and easily sellable. The special deals between actions and manufacturers, manufacturers and retailers etc are no longer guarantees of sales. The only deal that can bring results is with the consumers and the devotion to full feeling their needs …