There are occasions throughout the path of life where one can say that size really does matter. For Jalem Getz, CEO of costume retailer BuyCostumes.com, this is one of those times.
The retailer currently has a grip on over 30 percent of the market share of business and, with the help of its newly opened 350,000-square-foot warehouse, can safely say that it has grown to more than three times the size of its closest competition, Getz says.
Getz speaks of the company in humble tones, but the numbers he rattles off are singing a different tune.
During this Halloween season the new warehouse will carry approximately 27,000 SKUs and house up to 1,500 employees. Getz attributes the company's current success to what he calls "first mover's advantage." "We were the first to tackle the online market and we have continued to build on that success every year," he said.
Even in this tough economic climate, Getz says he has not had to decrease inventory and has added some vendors, such as Underwraps costumes. "They seem to be doing innovative and cool things," said Getz. "The product always seems to be of relatively good quality for the price you're paying."
As much as it is important to have a "solid price," Getz also expects his vendors to have the delivery and availability that BuyCostumes needs. "This year, communication is key. You can't assume your vendor will make everything you need. They need to be tighter and more responsible with communication," he said.
While many have been weary to order and experiment in this climate, Getz says because of the company's size BuyCostumes will "be making big bets on products this year. We certainly think that some categories are going to be great. Shoes, for example, are going to be a great accessory this year, we've seen that they continue to do well." Ellie shoes and Leg Avenue, who worked together this year to provide a whole look with costume and shoes, are large suppliers of BuyCostumes, said Getz.
"I think [this Halloween season] is going to be good, but some retailers and manufacturers may be challenged financially and may not be able to get the inventory assortment," said Getz. "But I think the customer demand will be solid, I don't think it will be horrible or a record year."