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PRICE V COST.

  • 2 min read
I want to change how people buy clothing.

Or at the very least.

I want to change how people think about how they buy clothing.

I want people to think as much about the cost of the clothing they buy.

As they do about the price.

Always Wear Red.

If someone buys from Always Wear Red.

That's good.

But if someone doesn't buy from Always Wear Red.

Yet they still buy into Always Wear Red.

That's good too.

Because it means that.

Like me

They are concerned about three statistics.

3 Statistics.

70% of the world's clothing is burnt or buried within 3 years.
30% of all clothing made is never marketed.
Only around 10% of the clothing we buy is worn regularly.

I've been part of this problem.

And so have you.

Always Wear Red is for people that no longer want to be.

Price.

Price is different from cost.

First, let's look at how Always Wear Red addresses price.

To me, price means 'what you pay'.

Always Wear Red is D2C (Direct to Consumer).

So there's no dilution through agents, wholesalers, distributors or retailers.

And no deep discounting to bolster either.

So the value we build in.

Stays in.

With most Super-Premium or Luxury houses, consumers pay between 5x and 9x the making cost.

So a £300 cost to the brand is (say) a £2100 cost to you.

Always Wear Red price between 2x and 3x cost.

Which for a unique, world class, world kind, sloooow to make and hard-to-scale collection sounds fair to me.

Cost.

To me, cost means 'impact'.

So let's look at how Always Wear Red addresses 'cost'.

To me it's keeping quality high, and margins relatively low.

So we can create the world's best hand knits as accessibly as we can.

It's building the best quality, most enduring maker relationships by paying our British knitters twice the national average.

It's going slow, because we want to make the best hand knits we can, not the most hand knits we can.

And for Always Wear Red it's impacting every relationship we build and every process we design so that both people and planet are cared for.

Price v Cost.

Consumers very often ask this of high-cost and (apparently) high-end brands:

"Why is it so expensive?"

And so they should.

Because it is a price-focussed question and a good brand's answer should make us like that brand more.

I do however think that a just as important, yet far less asked question about lower price-point offerings, is this:

"Why is it so cheap?"

This is a cost-focussed question.

And the reason it is just as important is that, I think, we should check that the answer to this question does not make us like the brand less.

Change.

As I mentioned.

I want to change how people buy clothing.

Or at the very least.

I want to change how people think about how they buy clothing.

I want people to think as much about the cost of the clothing they buy.

As they do about the price.

Because when the price is low.

Beware.

Because the cost to someone.

Somewhere.

Could be very, very high.

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