How can retailers be more entrepreneurial?
When times get tough, the temptation for fashion retailers to batten down the hatches and concentrate on the day-to-day grind of running a business in a challenging economy is strong. But, at the same time, the ability to innovate, take risks and encourage an entrepreneurial mindset is what separates the very best in the business from the rest.
Fashion is, after all, an industry built on entrepreneurs with a clear creative vision. Only those who can offer customers something new and different – whether they are competing on product, price or service – will weather difficult trading conditions unscathed. Drapers speaks to retailers and brands that are making innovation and entrepreneurship a central pillar of their strategies to see what lessons can be learned.