6 minute read
LETTER FROM AMERICA
RBA news
Melanie Storer, RBA executive committee member and co-owner of Wedding Belles of Four Oaks, reviews Bridal Week Harrogate
The industry returned to the #homeofbridal on 11 September, for Bridal Week, which saw the bridal community regaining its stride in the post pandemic era, with a buzz of designer and retailer conversations filling the stands. The shift in energy was especially seen through the growing interest and applications for RBA membership, highlighting the importance of peer-to-peer support and unity that has emerged from the trials of previous years.
Ocean Media ensured there were opportunities to engage with fellow friends throughout the show by providing complimentary Champagne and gin bars while RBA members experienced a VIP exclusive oasis, with a lunch of sandwiches and cakes, hot beverages and wine.
The RBA prosecco meet-&-greet reception was very well attended on both evenings before the show closed, and it was wonderful to catch up with our existing members and meet those looking to find out more about what the RBA has to offer. Welcome to our new members, we look forward to some exciting developments for the Association in 2023.
The show hosted over 300 big name brands and there was a very strong representation of new designers from Ukraine and Eastern Europe, with unique takes and inspiration for the modern-day bride. RBA members were offered stockist flexibility with design changes and fabric choices along with great prices, and opportunity for increased profit margins. New labels apart, however, our members felt elsewhere there was a repetition in dress styles and increased costs, unreflective of quality. An obvious change in industry trends was also apparent through the downsizing of accessories and add ons offered by designers, questioning the impact of fast fashion and the increase of online shopping within this part of the bridal industry.
The catwalk show is one of the highlights of the event, with the Royal Hall boasting a theatrical setting for a host of world-renowned brands. It was amazing to witness a full theatre again and the atmosphere was incredible. The standout moment came with Rachel Allan’s Swan Lake excerpt.
In terms of individual designer catwalk shows, Maggie Sottero paved the way with their inclusivity and diversity of models, something of which we hope to see more of in the future from other designers. We also saw Maggie Sottero celebrate their 25th anniversary with an exclusive stockists’ event held on the Sunday evening, championing their own successes, and showing their appreciation to each of their retailers.
The 2022 Bridal Buyer Awards was hosted in the Majestic hotel. Downsized from the previous year, there was an apparent underestimation of appetite for the event, with the venue unable to house all who wanted to attend. The blacktie evening boasted a supportive upbeat atmosphere, which committee members enjoyed. The RBA would like to congratulate again all award winners from the evening on their well-deserved recognition.
To summarise, the RBA found this year’s Bridal Week a successful and an enjoyable experience and we look forward to the new innovations and progressions 2023 holds in store for the designers and forthcoming events.
Letter from America
Peter Grimes of VOWS magazine is seeing if not light at the end of the tunnel, then at least glow for bridalwear retailers
This past nearly year-long period of political strife, economic uncertainty and social upheaval has added considerable stresses to US bridesto-be… as it has for UK brides clearly facing similar circumstances and worries.
And as for both countries, this turmoil will not soon end, certainly not by the end of an election cycle, nor prior to the beginning of the 2023 bridal buying season.
Boutique owners (and their employees) are feeling the impact of this added stress and worry, both personally and in fulfilling or exceeding the demands of their over-stressed-out brides.
Adding weight to these worries is the near non-stop financial predictions by assorted banks, brokers and government agencies predicting the direst of possibilities, combined with recent surveys indicating that a high percentage of US and UK consumers are extremely worried about the possibility of a recession.
While worst case scenarios may be accurate for specific segments of the economy, I don’t believe that is the case for bridal retail… not that I think bridal is recession proof, but because historical cycles have shown that bridal is recession resistant.
In the short term we may see a softening of the retail “sweet spot” price point, and a possible reduction of the number of participants in the wedding party, but I don’t anticipate a noticeable decline in the number of weddings in 2023-2024.
Two reasons for this view: 1. An admittedly optimistic review of wedding and marriage data for the Great Recession years of 2007-2009, considered the most significant downturn in the US economy since the Great Depression, which is often cited as the most catastrophic economic event of the 20th century.
A review of those numbers and years reveals small percentage declines in the number of weddings during that two-year period.
Specifically, 2007 recorded 2.2 million weddings; 2008 showed a 1.8% decline in the number of weddings to 2.16 million; 2009 declined an additional 3.7% to 2.08 million, and 2010 showed an increase in weddings to 2.1 million.
2. The resilient nature of bridal retail, which has adapted to (and many times lead) a changing consumer throughout its history.
In more recent terms, boutiques proved their resilience as they adjusted, adapted and pivoted during the COVID years, emerging from those near total shut downs stronger and more consumer centric.
This coming period of economic uncertainty, while potentially difficult and stressful, will rank as a distant second to that which bridal retail has already survived… and succeeded.
Boutiques’ ability to create and provide a safe haven, a sanctuary from the cries, the rabble and the drama that overwhelms and is so prevalent in our brides’ everyday lives is exactly what that bride needs and longs for: a special experience for which she is willing to pay, and one that she can revel in telling others about.
The recent 2023 Predictions report from market research company Forrester Research includes a conclusion that supports my point:
“Unlike previous years, 2023 will be a jumble of mixed signals, reflecting a unique environment characterized by opposing forces: exuberance as the pandemic wanes, tempered by caution in the face of economic turbulence. In a nutshell, don’t expect consumers to be shy about spending in 2023. But expect them to be far pickier — seeking out fewer, richer experiences that blend the digital fluidity of the pandemic with the familiarity and intimacy of the times that came before.”
So therein is the challenge for US and UK boutiques: to continue to evaluate and improve each contact point with their brides, across all platforms; continue to ‘raise the bar’ of customer service and of the in-store experience; continue to train an engaged work force that is product knowlegable and customer sensitive… and to ramp up marketing and advertising programmes that educate and entertain their brides.
And a key aspect of this approach… an attitude of challenge, not fear. For as Sam Walton, founder of Wal-Mart reportedly said when asked about his thoughts about a recession: “I thought about it and decided not to participate.”
Kelly Faetanini
