The Risk of Fashion and Retail Managed by Adam Goldenberg
Fashion is very risky. For one thing, there are different approaches to fashion. One of the most common approaches to fashion is to play it safe. This means offering items that are known to sell. These items are no different from any items from the other companies except for the logo or the name on the tags. Another difference is that the items are probably selling at a lower price. While this is often the safe way to sell clothing on onmogul.com, it does not always guarantee a sale because people may get tired of the item. Also, people might not find any reason to shop at the store when it has the same item as the other store.
Another approach is to go very far in the other direction. This involves carrying a lot of items that are just weird. The stores that take this type of approach are very rare. For one thing, the selections of fashion products could intimidate people. They might not buy the item because they don’t feel comfortable wearing these items. As a result, the sale rate may be even lower than the safe approach. Therefore, it is important for people to take an approach that is more moderate.
One example of the approach that is successful is the approach that is taken by Adam Goldenberg. What Adam Goldenberg has done in partnership with Don Ressler is bring forth something that is the perfect balance of safe and risky. They have brought forth items that have enough unique aspects to them that customers want to buy them. Adam Goldenberg have also been wise in their approach. For one thing, they have used analytical software in order to determine what items to sell more of and what items to get rid of.
Adam Goldenberg has brought forth products that are very popular among people. Therefore, his company has gained a lot of success which has given it the ability to expand. TechStyle is even giving Amazon a run for its money. Given that Amazon controlled as much as 20% of the fashion industry, this is an impressive feat for TechStyle.
Learn more about Adam Goldenberg: http://vator.tv/news/2015-05-12-whats-it-like-to-be-a-unicorn