Hip and Hoppin: For this Hamilton retailer, business is booming
The boom in the youth "hip hop'' clothing market in Bermuda saw one of the leading retailers in this sector achieve a 75 percent growth in a single year.
Now, due to the boom in trade, the same business is to open a new shop tomorrow.
The Source, in the Washington Mall in Hamilton, has been up and running for three years, and owners Dennis and Lisa Richardson say that the shop has been such a roaring success that they have simply run out of room.
The new shop, The Source II, will open less than 100 yards from the mother store within the same shopping mall.
The couple say the phenomenal success of the shop is due to the emphasis they place on customer care and service.
"If you come in here we want you to leave feeling like family,'' said Mrs.
Richardson. "We want every customer to leave with a smile on their face.'' The shop sells casual menswear to customers aged mainly between 14 and 35. The look, "urban street'', which originally comes from the US and is closely associated with Hip Hop music, has proved incredibly popular with young Bermudian men.
Unlike many other fashion retailers in Hamilton, the shop relies heavily on local customers, with over 90 percent of sales to Bermudians. The clothes are also relatively low-cost, with an outfit of t-shirt, trousers and trainers costing under $100.
These bang up-to-date styles and their affordable prices have attracted the elusive and lucrative teen to twenties market.
The shop also keeps turnover high and costs down with a 10 percent discount when three items are bought at the same time, Mr. Richardson said.
"It encourages people to come in and buy the whole look at the same time,'' he said. "It is good value for money and the kids know that. We sell more stock, and they get a better price.'' The Richardsons also believe that the youth market also buy a greater volume of clothes than the older generation.
Mrs. Richardson added,"Rather than buying one or two things a year, these guys have lots of new clothes and for anyone in the trade, it's a lucrative market.'' According to Mrs. Richardson, Bermudian men and women closely follow trends, buying entire new outfits for different occasions such as concerts.
Mr. Richardson said: "And the customer care side comes into it again. We have good customers who call up looking for a whole outfit for the weekend, and we have their sizes, know their tastes, and can put something together for them then and there.'' Looking up: Owners of trendy hip-hop clothing store The Source, Dennis and Lisa Richardson achieved 75 percent growth in a year.
