Much of the company’s business has traditionally been derived from trade shows. For the first time since 1988, Spike Leisurewear has been unable to get out on the road and meet buyers or develop new business relationships. This has predictably put a strain on the organisation.
With a series of lockdowns and lots of people feeling a lack of confidence to return to ‘the real world’, the only businesses to profit from the current situation are those that trade online.
The London Transport Museum is a prime example. Having continuously traded online during the pandemic, good sales pre-Christmas have shown the importance of a strong online offer. Other museums and heritage sites are doing the same and managing to put money into the tills even without visitor revenues.
Over recent months Spike Leisurewear has focused on supplying those customers who have good online trading platforms, and the firm has noted how many clients have upped their games and developed great online shops.
The market remains for items that sold well before Covid, but the main challenge is how to reach it. The solution for Spike has been to offer great products at competitive prices to customers who continue to trade online, whilst being especially flexible and creative.
One example of this ingenuity has been to combine its t-shirts and socks – previously sold individually – to make gift sets. Successful sales figures in the run up to Christmas have seen this range expanded for Father’s Day. These sets can be customised and discussions have now taken place with several visitor attractions keen to stock bespoke t-shirt and socks gift sets.
When business is hard to come by, it is important to increase the average spend. Spike Leisurewear has addressed this further by offering 2-packs, either of t-shirts or socks. These are popular with customers as they are getting a good deal, and important to retailers as they are getting increased revenue, albeit with a slightly reduced margin.
It is the spirit of constant learning that has enabled Spike Leisurewear to thrive despite the harshest of business conditions. Having been constantly reviewing the way it does business, looking at new ideas and considering the best way to take the company forward in the post-Covid world, the apparel specialist has ensured it is ready for all eventualities.
For more information on Spike Leisurewear’s products or to discuss collaborations, call Richard on 020 8427 3740 or email at [email protected]