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Why does H and M destroy unsold inventory instead of donating it to the needy?
Pickleshy
On January 5, the New York Times published an article about a midtown Manhattan H&M store cutting piles of unworn merchandise and throwing it away.
Several New Yorkers were quoted as saying they had spotted piles of trash bags full of clothing, most with tags will on, in early December outside the 34th Street store's back door. Much of the clothing had been slashed with box cutters. Hangers were also thrown away.
Stores like H&M and Forever 21 are known for "disposable fashion" and churn out trendy clothing at a fast pace for very cheap prices. The clothing was most likely thrown away when stores had to make room for new shipments.
The New York Times reporter tried to reach H&M headquarters for a comment about their disposal methods but they did not respond.
Later, after many Facebook users posted the article, H&M responded saying,
"H&M is committed to taking responsibility for how our operations affect both people and the environment. Our policy is to donate any damaged usable garments to charity. We're currently investigating an incident in a NY store that is not representative of our policy. We will follow with more information as soon as we are able. H&M's US sales operation donates thousands of garments each year through Gifts In Kind Int."
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Is it true that companies will sell their over stock clothing for cheap prices?
Certainly this is true. Companies like Mexx, Quiksilver, Levis and Guess often have annual or semi-annual lot sales at a specific larger venue where they bring in a collection of these overstock items either from their warehouses or from the retailers that have returned unsold products. These are great opportunities to get name brand products for as much as 90% discount from the original retail price.
What effect does customer have on pricing?
If customers refuse to buy a product, the manufacture and shopkeeper will be left with unsold stock - which is dead money. They may be forced to reduce the price or give incentives to encourage customers to buy. In some cases, they may have to sell under-priced as a loss leader, or at cost price, so incurring a break-even loss.
What is fashion forecasting?
Fashion forecasting is the prime issue underlying the issue of trends. It is not an occupational guessing game because very substantial amounts of money of the fashion industry are at stake. It. Is a vital activity where experienced fashion analysts scrutinize past buying patterns signs for current market dynamics and project these into the future. There are forecast agencies that collect facts pertaining to consumer buying patterns, activities and occasions for which clothes are needed, their priorities, reading habits etc. this is done through liaison with stores, retailers and wholesalers fashion professionals also rely on information sources such as design, colour and video Services, newsletters, books, magazines and websites. In order to gear up for the season to come, the fibre and textile producers must start new developments almost two years in advance, clothing and accessory manufacturers must have their products ready well in time months before the consumers' wearing season. Without well-judged projections of designs, colours and fabrics by the forecasters, the producers would not be able to sell in large quantities of unsold to be disposed through discount sales, the importance of the forecaster in trend analysis becomes invaluable.Fashion forecasting is process where we try to get consumers mood towards the next selling season to avoid loss and we can plan our marketing in advance. One of great fashion forecasting companies are f-trend.com, wgsn.com. They are global leader in accurate trend forecasting companies.
In what ways does the marketing mix for services differ from the marketing mix for goods?
The concept of the 4 Ps marketing mix (mm) framework has been widely, and often blindly, accepted as an absolute truth. But markets change over time as do products and the environments in which they exist, so many people have attempted to extend or revise the traditional Mix, Gummerson, Gordon and others. Firstly, to determine how the mm for services might be different to other products I'll just spend a minute talking about the nature of services products. Services are different to physical products in 4 main ways: Intangibility - True services are intangible. When you leave a theme park there is only the memory or the experience that remains; when you get off an airplane you can't take it with you. Some elements are tangible but the core benefit of the purchase is not, you might buy a souvenir on holiday but you didn't go on holiday to purchase a shiny trinket, chances are it was the relaxation, the experience etc... Inseparability -Production and consumption occur simultaneously. On an airplane the flight, the distance travelled is being produced and consumed at the same time, there is no manufacturing facility separate to the plane itself. Perishability - Any unsold hotel rooms at the end of the night are gone forever, the some with airline tickets - once the plane has taken off there is no chance of filling any more empty seats. Variability - It is extremely difficult, perhaps impossible to standardize a service offering because there are so many confounding variables. Going back the Theme park example, one visitor might have an excellent time because he met the best staff, the weather was sunny and whatever else; where as the same person on a different day might absolutely hate the experience, stuck in a traffic jam on the way to the park, the weather was rubbish, the staff were rude etc... It is easy to standardize a manufactured product, this is not the case with Services. The traditional mm can be extended to address these issues. For instance, when we talk about products as an element of the extended mm, it is important to discuss how service providers counter the intangible nature; this could be through providing souvenirs, literature, branded carrier bags, give away sweets or what ever, something physical for customers to hold and remind them that they bought something of value (even though intangible), bank cards are tangible evidence that you bought a financial service, people buy a programme at football matches so they can take home some tangible evidence that they were at the game. The traditional 4 Ps aren't really broad enough to cover all the issues, so when we talk about the inseparability of production and consumption, and the variability of services an important factor is the staff that create and deliver products. Here I think I'm probably getting at what you really wanted to know; the extended marketing mix is a temperamental thing, constantly changing and being revised but I believe the general consensus is that the 4 Ps should now become the 7 Ps + 1 C, these are: Product, Place, Price, Promotion(As you already know) AND People, Physical Evidence, Processes, AND Customers. I've already mentioned People and I've talked about creating Physical Evidence - countering intangibility. Processes is about countering the Variability - creating standardised processes so every customer has as similar experience as possible, and further, creating and refining processes for quick and efficient actions to take place such as responding to complaints. Finally, I find it hard to believe that Customers weren't mentioned in the traditional mm, but they weren't, and now they should be included (this probably has something to do with a shift from 'transactional marketing' to more 'customer centric' approaches but that's a different question). Customers in the mm require research, identifying and responding to changes in demand, understanding what your customers want is central to any marketing issue. In summary, the traditional mm differs from the extended mm for services because it takes into account the 4 characteristics of service products. You may be able to think of other characteristics and differences between goods and services in which case you could extend your mm is other ways, ways that are unique to your product in your environment. Hope that helps. (BTW, these aren't my own ideas, this info can be found in any business textbook and probably online too)
What is the stock of unsold goods held by a firm called?
Inventory.
What is Stock of unsold goods held by a firm called?
Stock on hand or inventory
Is an unsold product considered an asset?
Yes, it is included in inventory, which is included in assets.
HOW TO FORM A SENTENCE USING UNSOLD?
Only four of our cars have been left unsold.
What happens to unsold monthly magazines?
Unsold monthly magazines may be returned to the publisher for credit or reimbursement. Alternatively, they may be pulped or recycled to manage inventory and reduce waste. Some magazines may also be sold at a discount or through clearance sales to recoup some costs.
Does Target donate their excess inventory to charity?
Sometimes, Target donates certain items, such as unsold clothing to charities. To find out which items Target will donate, you must contact their corporate office.
What does Louis vuitton do with its unsold merchandise?
They simply do not have any unsold merchandise to burn.
How cruise-lines fill unsold cabins?
how do cruiselines fill unsold cabins
Use unsold in a sentence?
Because the book was so poorly written most copies were unsold.
What happens to unsold new cars?
Most new unsold cars are heavily discounted and sold after the model year ends. Some unsold new cars are sent to car rental companies.
What is the objective of inventory valuation?
Inventory is the stock of unsold goods held by a business. These goods have a sale value and are therefore an asset to the business. At the end of each financial year businesses must account for all their assets (buildings, machinery, money owing, stock etc.) and liabilities (outstanding debts etc.) to calculate their profit or loss.
What do you call a unsold book?
Remainder
