Since we live in a digital age where everything can be easily accessed through the palm of our hands, many business enterprises have been using this as a way of getting their brands noticed more often. The fashion and clothing industry is known for being one of the first industries utilizing the internet to reach a broader audience.
In light of the recent COVID-19 pandemic, most businesses used to enjoy foot traffic have been severely hindered by much of the looming fear of transmission from the, especially virulent disease. Since there’s not that much foot traffic, many businesses have closed down due to the lack of potential customers that might want to buy products or utilize services.
However, many traditional brick-and-mortar operations that we once knew are now moving towards social media platforms, E-commerce sites, and their dedicated domains as a means of continuing operations.
If you’re planning on setting up your online clothing store, there are still a variety of things that you’ll need to consider. Remember: planning your store is quite different from launching and managing it. Although it might be easy to think of a world where you’re almost out of stock from all the orders you’re getting, there’s still a lot to consider.
Why Sell Clothes Online Instead?
For decades, much of the general public are used to buying and selling clothes in traditional stores and boutiques. But in recent years, many businesses and enterprises have been switching towards a digital platform, with most ditching having a physical store for one that can easily be accessed through a phone and a browser. However, some business owners will still cling to tradition instead of adapting to new forms of business. After all, E-commerce and online business selling has just risen in popularity in the past few years.
For years, many businessmen have debated whether brick-and-mortar stores are “better” than online stores. In reality, both do have their pros and cons, but most would say that online stores are a great way of tapping into a broader audience and cutting down on expenses, especially when renting a commercial space.
Although much of the clothing industry still has a strong foothold through traditional physical stores, especially since people still think it’s part of the “standard’ retail industry, it’s not necessarily the case. However, physical stores are slowly losing that strong foothold that they once had. In fact, online E-commerce store now holds around 27% of the market value for these industries. Although this might be just a quarter of the value, people will need to keep in mind that this is growing every year.
In another study, most of the world’s current population, usually comprised of millennials and Gen X-ers, will usually prefer shopping online since it’s more convenient and cost-effective. This means that around 65 to 70% of millennials and around 60% of Gen X-ers are more inclined to buying clothes online. Only a small percentage of this target market will prefer buying offline. That said, more and more people are starting to shift to online retail.
But what’s the most important advantage that setting up your own online store can give? Well, you won’t have to go through a variety of hoops that could take a good deal of time, money, and effort. What might take weeks for the establishment can be done online in just a matter of days.
But let’s not get ahead of ourselves. Although it might be more comfortable and more convenient, you’ll still need to weigh in on various essential factors to ensure that things are running smoothly. What are some of the things that you should know?
Preparing and Executing Your Business Plan
Knowing is half the battle, and having a well-thought-out plan will determine what the near future will hold for your business. Of course, having a business is more than just selling items and making money from selling those items.
Here are some things you can consider:
- You must store them in safe and secure locations right before you ship out items. Compared to other types of products, clothing will need to be stored in a cool, dark, and dry place that’s far from sunlight and interaction. Although warehouses might work, you should place your clothes in secure storage instead. Fortunately, secured storage options will help keep much of your stock and merchandise safe until it’s delivered.
- Compared to marketing your product for your traditional store, you’ll need to make a comprehensive marketing analysis to ensure that you’ll be able to tap into your target market. Sometimes, this means going against the usually traditional marketing tactics that people know. Although this might seem “complicated,” there are various applications that can help you track your engagements on digital platforms.
- You’ll need to analyze what your competitors have and don’t have. Being able to discern the weaknesses and the strengths of other businesses that have the same niche as you do can give you an advantage.
There are a variety of strategies that you can incorporate into your online clothing store. Still, you’ll need to take a step back and think everything through right before you start. Just like having your own traditional store, you might have to spend and invest to ensure that it’s working out for you. Ultimately, you don’t have to push yourself to set up a business; patience is a virtue.