Black Friday: Different Perspective.
As we write these words, the weekend started by Black Friday is still on. We would like to say something more about this, approaching the topic from a slightly different perspective...
On Wednesday, our social media went on fire - a storm broke out (in Polish) in the comments under our Facebook post about Black Friday campaign. It started with a comment that said - translated quote - This offer is sh*t, not black friday. "When you buy 50 products for 100,000, 51, the cheapest is for free." . There were some comments stating that our offer is a joke and we should check how it is done in the US.
Well, everyone has the right to their opinion.
However, not everyone is aware of what stands behind the price of products. Apart from raising prices and lowering them magically on the day of Black Friday, we are talking about production costs and profit margin. To drastically cut the prices, you need to set them in such a way as to have a large safety margin - a large markup.
We don't do that.
Instead, we strive to offer products at fair prices that reflect their real value and cover the amount of work that goes into their production, but at the same time are affordable. Compared to other brands - global, European and some Polish - they are really accesible, e.g. our grenadines and shantungs are among the cheapest on the market, although we source fabrics from the same mills around Lago di Como.
We try to create our products locally, as close as possible. Pocket squaes and ties here, in Silesia. Shirts a little further, elsewhere in Poland, but in one of the two best shirt factories in the country. We admit that we have recently began making our suits, coats and jackets in China - but not because of the cost, but because of the technology, quality of workmanship and range of possibilities that no factory in Poland was able to offer us. We do not cut labor costs.
So what makes up our price?
Let's focus on the already mentioned shirts as an example. Let's be transparent: our average margin (gross) on shirts is around 35%, much less than in traditional retail model. Adding the cost of packaging and transport - it's about 30%. The cost of fabric and work alone is even several times more than in fast fashion brands, popular chain stores. And how could we reduce the price by 50%, when it would mean practically selling with no profit at all - without even having to add fixed costs: employees, rent, and other charges ...
However, we try to listen to our customers.
When Black Friday suddenly appeared in Poland in 2015, we did not join the action. A year later, we also resisted - but there were more and more questions from our clients. To meet this demand, in 2017 we organized a Black Friday promotion in Poszetka for the first time, then for the second, and now the third. We tried to prepare a special offer for those who were looking forward to it.
As Black Friday is done for you, our loyal customers, we do not put our entire range on sale - because its normal prices do not allow it and our operating model does not assume making majority of annual sales in one day. We came up with another solution, a favorable option for larger purchases, i.e. adding a product for free.
Of course, this is a kind of sale, but "more human" - if you like our products and are eager to buy these things, you will certainly be pleased with the gift that you have chosen. If not - well, it's a pity, but we will not try to convince you by force, with exclamation marks and large red inscriptions with double-digit numbers and minuses. At the most, we try to prepare, especially for bargain hunters, a bit more products in our outlet tab, which, as you may have noticed, does not work strictly seasonally.
As we can clearly see (and as our statistics indicate), many of our regular (or not) customers use Black Friday as an opportunity to do earlier Christmas shopping. We believe that without this opportunity, a large part of you would do it anyway - only a few days later, on less favorable terms. We believe - but we do not want to check it at the moment and take away the opportunity from you, because probably many of you have the habit of shopping on this day already.
Time to sum up.
If you expect that after this year's comments you will see -70% on our banners on Black Friday next year, we must worry you - this will not happen. We can promise you that we will try to be more transparent during this time. We will try to tell you more often what our pricing policy is based on and what makes up the actual cost of the product.
Oh, one more request: shop responsibly during such promotions and sales. Check the actual prices of the products you are interested in before and compare them with those that are shown while the special offer is on. It may turn out that the reality is not so beautiful.