Key Fears of Starting a Fashion Line: How Am I Going to Sell My Product
You finally have some inventory. Your fashion line is real. Now how are you going to sell it? Don’t be afraid. There are many ways to sell, and I am going to explain how to figure out what’s right for your fashion line.
Having a good design idea is a great start for your fashion line; however, the decisions related to how you are going to sell it can be frightening. There are so many ways to go, and each one has its different costs, risks, and rewards. Are you going to use Pop-up sales, an e-commerce site, traditional retail, or some other distribution method? You have to decide what works best for your niche, your fashion line, your initial funding, your ability to market, and your cash flow.
In this blog, I am going to take you through a few things you should consider to focus your sales efforts on, and we’ll cover the pros and the cons of each of these methods.
Research your Competition:
A good way to figure out how you are going to sell your product is to look at the direct competition. How are they selling? What seems to work for them? How are they interacting with their target audience? How are they pricing their goods? What are they doing wrong?
Your competition can be a great resource of knowledge for you. It is important to understand them better than they know themselves. Be aware of what they are doing that seems to be working. Study their marketing communications to find out how they are contacting their target audience. Their pricing will have an important impact on what you can charge for your line. Understand what distribution methods they are using and why they might or might not be working. If they are using all online sales, you may want to focus on online sales. If they are using retail distribution, find out if that is working, and explore whether that will work for you. Since your competition is already in business, they have created a very visible road map for you to learn from. As a creative entrepreneur, absorb that information and then try to brainstorm ways to improve on it.
Know your Niche:
A wise marketer once said, “The riches are in the niches.” You identified your niche as you created your brand and developed your fashion line. In order to pick the best way to sell your product, you must conform to your specific target audience and adapt to their buying habits. If they tend to buy from television, you may want to sell on television. If they are primarily online shoppers, then it’s best to sell through your website and other online shopping outlets. If they are more confident buying from a retailer, you should explore what it takes to sell in a retail outlet. Remember, your audience is not going to change their habits for your fashion line, so you must adapt to their habits and buying behaviors if you want to successfully market to that niche.
Online Selling:
There are several ways to sell your new fashion line online. You can list your product with a major online sales site like Amazon or Etsy. This can give you instant exposure and potential sales without investing in a huge amount of inventory. Then as your inventory is depleted and sales generate revenues, you can resupply your stock. To further boost your online sales efforts, you can create an e-commerce website that showcases your fashion line and directly self to the consumer through your shopping cart. This means you need to create the e-commerce website, set up the shopping cart and payment system, and arrange for fulfillment.
If you choose to sell online, your marketing communications need to provide your consumers with a website link that they can go to to shop and buy.
Retail Distribution:
Retail distribution can be a way to mass distribute your fashion line if you are appealing to a very large market. For a first time launch, getting retail distribution can be very expensive since it can require sales reps, unfavorable payment terms, large investments in inventory, and the potential of returns if your line does not sell. I do not usually recommend this form of distribution when launching a new fashion line. The sales, marketing, and inventory costs are often very high and the cash flow can be a problem if retailers demand payment terms that delay your revenue for 30 to 90 days after the point of sales.
Pop Up Shops and Trade Shows:
Pop up shops and trade show selling can also be a good way to sell your new fashion line. Taking advantage of an audience who may be at a trade show, an event, a state fair, or even a flea market can instantly expose you to a buying audience who generates instant revenue. Your inventory demands can be modest and you can order smaller inventory to help minimize your at-risk investment. You can even market to a specific niche. One small brand who made Renaissance Era Ladies hats did most of their selling in pop up shops at Renaissance Fairs. As they grew, they created a website, and the business grew without a huge start-up investment. If you choose a fitness niche for a line of athletic wear you may want to try a pop up shop at related athletic events. The advantages of selling at pop up shops and trade shows is that you can keep your costs down and build revenue as you generate more sales.
Importance of Social Media:
Social Media can be such a tremendous asset to a start-up fashion line. The major platforms are structured where you can post and advertise for free or very little money, and reach out to and target the specific niche you have created your line for. The important thing is that you create a community with followers as well as sell them. If you are always selling, you will turn them off; however, if you give them as much valuable content as you do selling messages, you can create a loyal community around your brand that will follow you to wherever you choose to have them shop.
The decision about how to sell your new fashion line is extremely critical and should be part of your original marketing plan. It can have an enormous impact on your initial investment that includes inventory volume needed, marketing costs, fulfillment methods and expenses, and collection and merchant services. It’s always a good idea to know your niche and understand how the competition is winning and losing with them. When you understand your niche and your competition, picking your sales and distribution methods is not so frightening. It can be a decision you confidently make and be well grounded in audience and market knowledge.
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