Fashion, more than design, is a complex study that involves economics, studies of social behavior, technology, consumption, competition, among others that directly interfere in your business. And that is why it is challenging to undertake in the clothing market. Creativity, information and entrepreneurship rule those who want to invest in this sector.
In this content, we will bring tips on how to be successful and stand out from the competition by investing in fashion retail, whether in physical stores or E-commerce.
1 – Define a specific niche
Focus on your business. Understand your audience, study their needs, why they consume, how often and how they like to buy. It is essential to understand your customer, so that your purchases and actions are more assertive. Portals like SEBRAE always bring market research and tips to improve your business. A recent survey showed a significant increase in the consumption of fashion by the male audience, reaching a growth of 14% per year in consumption indices, compared to the female market which showed a growth of only 8% per year. Another interesting fact is that men have a more practical consumption trend, with 40% from the public preferring to shop online. Knowing these data, it is possible to define the investment niche more accurately. Use the information to your advantage.
2 – Conceptualize your store
Remember when we talked about creativity, information and entrepreneurship? This tip fits these points. Fashion and behavior trends are studies that guide major brands in the development of their products. For example, topics such as lifestyle, sustainability and awareness are on the rise. The reason for this is very simple, economic difficulties, financial instability and concern for the planet have made people more attuned to the market and its changes. Thus, businesses that understand the public and its impulse engines, manage to stand out in the market, bringing the news and concepts that they unconsciously seek. Creating a bridge of dialogue between your business and your customer. Work the concept of your store to define the visual identity, the communication language, the decoration and, of course, the multi-brands that you will sell in your store. Whether physical or virtual, the rule is the same.
3 – Communicate:
Today the internet presents a multitude of possibilities to promote your business. Social networks are amazing, functional tools that fit in your pocket and in your hands. A good smartphone is enough to kick-start social media. If your store is physical, posting photos and presenting your products spreads the spread. And if your store is virtual, tools like instagram shopping allow you to have an E-commerce, without the need to invest in a website, just using your social networks. But be aware, your communication must evolve in the same proportion as the growth of your business, increasingly professionalizing communication and your ads.
4 – Pay attention to the retail calendar
Everyone wears clothes, so the clothing market is frenzied in its releases. But understanding the annual calendar of festivities is essential for retail. It is the merchant's duty to plan their purchases and disclosure in these periods of greater purchase momentum. Mother's Day, Father's Day, Children's Day, Grandparent's Day, Valentine's Day, Teachers, Christmas, phew, there are many dates that drive the market, and in addition to these, hitchhiking on the famous SALE in collection exchanges are efficient actions that guarantee flow cash flow, inventory flow and maintenance of your business.
5 – Experience
Much has been said about consumer experience, purchase experience or point of sale experience. But what does this really mean?
As we've talked about in previous topics, the customer has become more active and connected. This corroborates with research by FUTURE CONCEPT LAB, a great Italian psychosocial trends and studies bureau, which understands this movement as “Authoral Consumption”. Basically, this idea that the consumer has become authorial has been observed since 2009, based on the autonomy that smartphones have brought, with the spread of the internet and the flow of information that is more accessible and faster. Thus, this autonomy and this freedom of choice gives the customer the power to experiment, and in this experimentation, companies that enable a differentiated experience gain many advantages. A simple example is, for example, the service, which if it is able to provoke in the customer a different, unique or pleasurable feeling, will receive a spontaneous disclosure in return, thus organically influencing other customers. The same happens in reverse, and in other experiences. The customer has become autonomous in consumption and in its networks of influence, he has become an influencer, promoter and mediator of his business. This is no small feat, so keep an eye on the experiences you provide to your customer.
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This exclusive material was developed by the TWO DOGS team, a company that promotes innovation, investing in technology, fun, urban mobility and why not FASHION?
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