We cannot ignore that the fashion industry has been one of the most lucrative sectors for decades. This market is estimated to grow at 8.6% per year and will be worth US$1003.5 billion by the end of 2025. However, we have seen a shift where fashion houses are moving their operations online. Such houses are now reaching new markets that they could never have imagined. The covid-19 pandemic has been one of the reasons why most businesses are shifting their operations online. The following are some of the reasons why fashion houses are shifting their operations online.
The convenience that comes with online shopping
Going to a physical shop can be a hustle for most people. Think about the time you waste preparing yourself, the traffic jams that you have to beat, and the time you spend in the store trying different outfits. It even gets more stressful during a time as this where people have to worry about social distancing and the like. You must also observe the working hours as some fashion houses do not operate for 24 hours.
Online shopping is the magic pill that will helps people escape such troubles through its convenience. All those shoppers need is an internet connection to visit their online stores. No need to worry about business hours as the sales websites are online for 24 hours. Potential customers also do not have to hop from one store to another as they can open different tabs on their computers to compare products and prices.
Business owners can cut on operating costs
The costs of running a physical fashion store can be quite high. Think about rent, salaries, warehousing costs, stock, and other expenses you incur every month. Most fashion houses are forced to add high margins to make a profit. It thus makes it hard for consumers to make regular purchases as they can only come out of the shop with a few items.
Online shopping reduces some of these costs. For instance, a fashion house does not need a physical shop where people will come and fit. Such a business can operate a warehouse only where all orders will be sorted from. A fashion house that operates an online store will also reduce the number of employees as most operations will be automated. Such a store can thus price the products competitively and keep attracting more customers.
Cooperation is easy in the online space
Operating a fashion store is not that easy. You have to cooperate with many people from suppliers of raw materials, payment processors, suppliers, shipping agents, and many other players. The online space is making it easy to contact such people at the click of a button. There are also special applications that can help you track your orders, unlike in the physical world where you have to make phone calls or send follow-up emails.
You cannot do everything on your own as a fashion house. You could be designing fashion apparel in your workshop or even ordering generic products that you brand later. Ordering clothes label makes it easy to brand your fashion products and make them stand out from the rest in the market. The beauty of it is that it takes just a few clicks to design such labels.
The online world opens up hundreds of opportunities
Many fashion houses rely on walk-in customers. There will always be a limitation as people have other things to tend to. The idea of relying on people who can drive to your store is also very limiting, especially if you are located in an area that is not easily accessible.
What if you could get a chance to sell your products overseas? That is what online space opens up to. Fashion owners can now price their products differently based on the region and people they are targeting. Such stores can now operate at full capacity as they know they have customers from all parts of the world.
Fashion house owners also get new business and scaling ideas from the daily interactions they get online, as they come across different types of people. They can attend fashion shows, expos, events, and interact with the market leaders in this industry at their homes’ comfort.
It is easy to meet customer demands and customize products
We have moved from the era of thinking about what the customer wants; we now give them what they need. What you think might sell may not be that attractive in the eyes of your target customers. The online space allows you to interact with potential and existing customers and evaluate their needs. You can take advantage of artificial intelligence and machine learning to study browsing patterns and give the right recommendations.
The online space is allowing fashion houses to customize and design their products with ease. Such fashion houses can now design custom woven labels online and give their products a professional finishing touch. The era of dealing with generic products is long gone as everyone wants to wear something that has a brand or a name attached to it.
Marketing is easy online
How many times do you come across fashion ads on the internet in a day? Fashion houses now understand that their potential clients are online. Some of the famous platforms that fashion houses are utilizing include search engines such as Google, social media platforms such as Facebook, Instagram, Pinterest, YouTube, Twitter, and digital platforms such as email blasts. Most fashion houses do not rely on a single platform to market their products as they understand that potential customers are on different platforms.
There are tons of platforms to choose from
All online fashion stores are not created the same. Some are created from scratch, while others rely on shop builders to take their operations online. All that one needs to set up an online store is a website and hosting. Some are using social media platforms such as Facebook and Instagram to sell their products. Business owners who want to maximize their sales use several platforms to sell their fashion products.
