Western & English Today

Summer 2016

W&E Today provides retailers and manufacturers with education and ideas that provoke innovation in the Western and English markets.

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Page 27 of 35

26 Western & English Today SUMMER 2016 Sales profits continue to trend upward while buying patterns experience a shift. W hile overall gross sales and net profits went up again in 2015, fewer retailers cited increasing numbers. A larger percentage of stores actually experienced a decrease in sales and profits in 2015 than in the previous year, but about half expect numbers to improve over the next 12 months. Home furnishings are becoming more popular among our retailers, but fashion remains the primary focus. So it's no surprise that apparel and accessories make up a major percentage of total sales, and boots still reign supreme as the biggest money maker. Seasonally, the summer months jumped ahead of winter this year as the most profitable for stores. The majority of retailers continue to attend trade shows, but more and more are relying on trade magazines and Internet searches for finding new merchandise. What factors carry the most weight when they map out their purchase orders? Shipping costs and price points are considered very important, but product availability is crucial — which could be in part due to the fact that buying in-season is trending upward, as is the percentage of retailers generating sales online. The lag time between buying for seasons has changed in general. While spring sales are still firmly set in winter and fall respectively, more retailers are making spring orders in-season and many reported waiting until summer to purchase for fall, as opposed to earlier in the spring. This year, more summer merch was bought in fall, which was formerly the least popular season to order summer stock. A huge thank you to all of our retailers for their loyalty to Western & English Today and for participating in this year's survey. 23.98% 0 20 40 60 80 100 Managers Owners 84.2% SURVEY RESPONDENTS ARE: PHOTOGRAPHY: COURTESY FILIGREE/W W W.FILIGREEWESTERN.COM STATE OF THE INDUSTRY REPORT 2016

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