An incredible week of contrasts with Colorado Clothing closing down 140 stores as they battle to rescue their ailing business and Zara clothing opening their new store in Melbourne to waiting queues of enthusiastic shoppers.
It may be simplistic but Zara credit their success to astutely listening to their customers and reacting immediately through product design and manufacturing. It would appear that Colorado were not doing that.
As one of our traders said this week - "Queen Victoria Market traders have the advantage of being small businesses with the flexibility to adjust to changing trends." That flexibility is sometimes hampered by market rules and is dependant on our wholesalers and agents also being flexible. Fexibility may become the new buzz word and encourage a whole new look at the way we deal with supply chains.