As modern brides shift their buying habits and expectations, industry expert Jo Stott reveals key strategies to navigate these evolving behaviours and stay ahead in today’s bridal market.
Being a global bridal coach means I no longer work in, or own one gorgeous bridal store - I work with hundreds of bridal businesses and bridal trainers around the world. Another advantage is, I hear first-hand of our consumer needs, wants, thoughts and fears, as I have a front seat very early on in the wedding process, performing wedding ceremonies around the UK for hundreds of couples.
Over the next few months, we will cover core topics we are struggling with in our industry. We will only touch the surface of these issues as businesses are complex, as is the market, however I will give you an insight into our consumer, how she copes with buying her wedding dress and how she sees you and herself. I will assist you in maintaining and even growing your store in probably one of the toughest times we have experienced. Coupled with my favourite topic of all, ’leadership’.
Buying habits have changed. This generation already have everything they want at their fingertips… they live with and demand information practically instantly. If they come to your website or socials and it looks off or dated, they will leave. If they come into your store and it looks like your dresses have been flung together creating a wash of ivory, or the stylist serving them is indifferent, uninterested or even worse, desperate for a sale, they won’t buy. Uniqueness is more important to them! They are accustomed to choice and have raised the bar in buying with an altruist attitude, meaning this generation are generally made up of people who make sacrifices to benefit others without expecting a personal reward back. So, how does this work in your favour? Well, altruistic consumers are motivated by the positive effects of their purchase. They want to know how their purchase benefits and delights. How long can their purchase be appreciated and enjoyed by all! This is where you step in – my ’full of love’, fully motivated, trained bridal stylist! Also, bear in mind your consumer is more likely to buy from bridal stores which are more of a representation of their values, expectations and themselves…and they want a bargain! So, we must give ourselves in abundance, right? Well, yes, but we must first have a clean strategy in our business, beginning with our 3 P’s: Product, Pricing and People!
Gone are the days when a busy diary was valued as one sale in every two brides we served. Now a busy diary can bring fear-evoking feelings of low esteem and thoughts of ‘what will I get from the end of this transactional day’. From my experiences, I suggest you begin with yourself: low self-esteem is not going to inspire a sale. The practice of living consciously is key to running a successful business. Who do you thank each day, who do you eat with, who do you spend quality time with - do you give yourself spare time each day to think and or listen with intent!
Once you have helped yourself, you can then assist your customer with a clear vision of your business. What it represents within the marketplace, and how your products are best for her. Being, and having, consciously-competent staff boosts confidence in negotiating and influencing sales! To simplify this: internally, believe in yourself and have confidence in your business alignment. Externally, have a content funnel of creative business ideas socially and physically coupled with a full understanding of your niche market and who you sell to!
Product – Right now your inventory is key to your success. You need around three core labels on your floor with a dusting of collectable/capsule dresses! You need to sell to your niche market - there is no need to be everything to everyone anymore. Knowing who you are selling to and what they are buying from you is crucial!
Pricing – I have been saying for a few years to reduce your stock and lower your prices to ensure profitability… In most cases, brides are wanting value for money, not necessarily a bargain as I mentioned earlier, but VALUE. Be tactical in writing down a) How you deliver value? b) What value looks like in your store? c) What costs are representative of value to your consumer?
People - Have a clear vision on staffing. The right dream team will take the most complex problems and provide the best solutions. Inspire the people who work for you daily. The most important part of being a leader is having the ability not onto to gain, but most importantly hold, the trust of others. This means making excellence as an action, not a reaction.
Jo Stott, owner of Jo Stott Consultancy, is an expert in bridal retail and customer service. Having founded multi-award-winning boutique Y.A.P Bridal, Jo now offers her expertise in strategic marketing, sales, service and accounts to other bridal business owners, and has partnered with Maggie Sottero to offer a bespoke training programme for bridal retailers.