Are You Missing Out on the Biggest Sales Opportunity? Why Are Black Friday and Holiday Sales Crucial To Startup Fashion Brands?
Don't miss out on the biggest sales opportunity of the year. Here’s why Black Friday, Cyber Monday, and the holiday shopping season are so critical for your startup fashion brand. In this blog, we reveal the unparalleled potential of Black Friday and holiday sales events that only come once a year.
The holiday season is more than just a time for festive cheer and merriment. It’s also the most significant sales period for the retail industry. Black Friday, as well as other holiday sales events, holds immense importance for startup fashion brands. In this blog, we'll explore the reasons why this season is so crucial and how startups can capitalize on this golden opportunity.
Significance of Black Friday and Holiday Sales:
Black Friday, Cyber Monday, and holiday sales mark the commencement of the annual holiday shopping frenzy. Consumers are on the lookout for the best deals and discounts and eagerly take advantage of them. This makes it a prime time for fashion brands and especially startups to maximize their revenue.
According to Adobe Analytics, online sales are projected to grow by 4.8 percent this year. That means they will reach an astounding $221.8 billion between Nov. 1 and Dec. 31. This is a key period for your brand to get a share of this enormous spending, and establish itself as a winner.
Fashion Startups: Are You Seizing the Opportunity?
For startups, this season is a game-changer. Whether you already have a collection or are in the process of establishing one, the holiday season demands heightened attention.
It's not just about boosting sales. It's about gaining traction, building brand awareness, and instilling customer loyalty. Early engagement with consumers during this period can set the stage for your brand’s long-term success.
Evolution of Black Friday: A Retrospective:
Originally a one-day shopping event, Black Friday has evolved into a multi-day extravaganza. The tradition began in the early 20th century, and it wasn't until the late 2000s that it truly took off.
Today, it's not confined to physical stores. Ecommerce and the online realm plays a pivotal role in allowing startup brands to reach a global audience.
Financial Impact: Black Friday vs. Rest of the Year:
Black Friday and holiday shopping have a substantial financial impact. In a good year, nearly a third of the retail industry's annual revenue is generated during this period.
This year, the projected growth from $211.7 billion to $221.8 billion indicates the escalating significance of this sales season. It’s important to take advantage of it and optimize your brand’s presence and success during this time.
Consumer Are Motivated Holiday Shoppers:
Holiday shopping is a tradition with consumers. They are driven by the promise of unparalleled discounts and promotions. This year in the wake of high inflation, saving money is even more critical. The great deals are even more enticing in this financial environment.
The report from Adobe also highlights the increasing use of buy-now-pay-later services. This indicates a strategic approach by shoppers to stretch their budgets while they continue their shopping frenzy.
Benefits for Startup Fashion Brands:
For startup fashion brands, this is your golden opportunity to showcase your collections and establish a strong brand presence in the market. The holiday season sets the stage for brand recognition and customer loyalty.
Engaging marketing content, captivating visuals, and seamless online experiences can leave a lasting impression on potential customers. It is important to be prepared and implement your holiday marketing strategy in plenty of time to stand out from the competition.
Potential Pitfalls and How to Avoid Them:
While the holiday season offers immense potential, it's not without its challenges. Oversaturation in marketing, inadequate inventory management, and underestimating customer service demands can lead to missed opportunities. Startups should meticulously plan their strategies. It is important to ensure you are ready to handle the increase of orders and inquiries.
Conclusions: Seizing the Holiday Advantage:
The holiday season, especially Black Friday, is an unparalleled sales opportunity for startup fashion brands. The projected growth in online sales emphasizes its significance.
Whether you're a startup or an established brand, strategic planning and execution during this period can pave the way for your sustained success. This is the season for you to sell and grow.
As the holiday bells chime, make sure your startup fashion brand is poised to make the most of this lucrative season. Engage your audience, offer compelling deals, and provide exceptional service to leave a lasting impression that extends far beyond the holiday season.
What’s your breakthrough fashion concept? If you feel you have an idea that may have some promise, schedule a free strategy call and let's talk about it. You may have discovered a niche and a fashion product that could become a successful start-up and the fashion business of your dreams.
Stuck on product Production? At V.Mora we can help you through the entire production process from designing, to sourcing and so on through our Production Development services. If you are in need of the following Development and Production services:
Sourcing
Technical sketches
Pattern Making
Prototype making
Sample Making
Fittings
Digitizing and Grading
Marker Making
Manufacturing
Please contact us at: vmorainquiry@vmora.com
About the Author
Fashion expert, Allison Howmann, graduated from the Fashion Institute of Technology where she majored in Fashion Design and Minored in International Trade and Marketing. She has spent over 6 years in the NYC Fashion Industry utilizing her Design and Marketing skills. Allison has worked with several successful brands to help create their winning fashion development, small business operations, and sales and marketing strategies. You can find her creating original content on the V.Mora blog and the V.Mora Instagram.
