Retail fashion is a billion-dollar industry due to its consistently high demand. Retail fashion refers to the market that involves clothing, shoes, accessories, bags, et cetera. It is also known for having changes in design and stock per season, and for having short lifecycles.
A lot of things can be said about the retail industry these days, especially with more and more people having enough disposable income to buy apparel and shoes all throughout the year regardless of the occasion. Nowadays, people don't have to wait for sale season or for Christmas to be able to buy what they want. You can also attribute this to more affordable retail brands in the market.
An important thing to note is that the retail fashion industry is a saturated market. There are a lot of competitors out there who have similar selling propositions. If you are planning on starting a retail fashion brand, then you are in for a tough yet exciting ride since there will surely be a lot of trends both in the strategies and demand sides. However, you should still learn the basics of starting your own retail fashion brand.
Do: look for a unique selling proposition
Your unique selling proposition (USP) is your shot at being recognized above all the other brands out there. It's the reason why people will also want to buy from you. Since retail fashion is tricky and is also based on trends, your USP should not be dependent on the kind of clothing you are selling. Your USP should be your competitive advantage that will help you get more customers. It can be about your pricing, quality, or innovation in bringing trendy styles at a fast pace (like what fast fashion brands are doing).
Don't: rely on word-of-mouth for marketing
Although for some industries, word-of-mouth works, for the retail industry it definitely won't except when your brand has been established. But if you are only starting, you should seek out more avenues and channels to market yourself so you can also start a stir among possible customers. You can pique their curiosity to drive them to buy or you can increase ads online.
Do: invest in packaging and customer service
These days, customers put a lot of consideration on the whole shopping experience. This means that when your staff is friendly, your ambiance is welcoming, and your packaging is of high quality, then you increase the chances of having more customers in your bride robe collections. Although they are more expensive, the returns would be great as your customers will start to love your brand and associate it with positive experiences.
Don't: change your brand's concept all the time
There might be a time that you would need to rebrand, but doing this all the time is not a good idea. Customers will get the sense that you do not know what you're doing or worse, that you don't know your brand yourself. Stick to a brand and concept and work from there. Make sure that everything is in line with it - from the color scheme, playlist, to interior design of your physical store.
Write a Review or Comment