17/04/2024

LACCM

Information about Business World News

Starting a Fashion Business in 2024

2 min read

One of the most competitive industries in the world is fashion, prices continue to drop for affordable brands, while increasing for the luxury, but with the variety available, how can a new brand break into the industry?

Having a unique concept, a memorable name and a good price point is a start but here’s a look at some techniques to try when breaking into the fashion industry as a start up.

Marketing

Marketing a new brand is one of the most difficult aspects of the fashion industry. While advertising on social media and using influencers seems to be the most popular options, they’re also very costly. Making sure you have a fully optimised website for Google (SEO) helps users find your brand easily, using alternative methods of marketing helps keep costs down, hiring freelancers to maintain returns, while your growth also helps to improve ROI.

When using social media it’s also essential to budget properly and keep costs down. If you’re advertising a mens hoodie sale then it’s important to focus on ROAS and Cost Per Purchase to assure the brand stays profitable. Having memorable ads is also essential as users don’t tend to purchase on their first interaction with a brand.

Drop Shipping

Drop shipping is a great idea for new brands. While starting up, having a warehouse or stockroom is a risky cost as you might not fully know how regular your transactions are. Drop shipping allows a customer to place an order and the manufacturer sends the garment directly to the customer. If you sell branded mens full tracksuits, the warehouse will print your design as the order is processed.

The main downside of drop shipping is the potential for longer processing/ delivery times and quality assurance. Depending on your brand’s price point, drop shipping may not be the most suitable choice. It does however keep the logistics cost lower.

Photography

With more and more brands popping up, keeping your photoshoots strong is the key to engaging with new customers. Concepts that get people sharing your products or gets them talking about it expands your marketing efforts.

A lot of up and coming womenswear brands specifically do this well just like high fashion. While high fashion concepts can tend to be labelled “unusual” or “edgy” they do  get people talking about them!

Delivery

If you’re looking to start up and mid to premium brands, then delivery and presentation can be just as important as the product itself. Brands such as END, send all their products out in boxes to improve the opening experience and adds a little premium experience to who could just be a t-shirt. It helps improve the overall experience with the new products to help increase the likelihood of a return purchase.

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