Tariffs on ladies dresses will impact bridal stores and wedding dress designers significantly.
I speak with Economist Luis Ribera about how tariffs will impact the bridal industry, how tariffs on ladies dresses can impact pricing, profit margins, inventory decisions, manufacturing decisions, supply chains, and more.
– The political nature of the tariffs and the inherent uncertainty and the effect this uncertainty has on business and financial decisions
– How to prepare for tariffs on ladies dresses, including: – Analyzing exposure to manufacturing in China
– Negotiating current purchase orders (P.O.s) with vendors/designers/suppliers
– Negotiating long-term contracts agreements in order to make pricing decisions and maintain good business relationships
– Maintain or initiate inventory management strategy to stay agile in the face of new tariffs on ladies dresses
– Your ability to compensate and stay agile will determine your survival as everyone in the industry attempts to adjust
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