Are you planning to start an online fashion brand? Entering the fashion industry can be risky, especially since there are many competitors. These include the well-established brands and those that have been in the industry for quite some time.
In addition, you’re not the only one planning to start an online fashion brand. There are those with connections in the industry who have more experience. However, you shouldn’t panic, and it doesn’t have to be right away. First, you need to think things through before investing your time, effort, and money in this new venture.
In this article, we’ll discuss the things you should consider before starting an online fashion business.
1. Define Your Niche
The fashion industry is huge, so you may want to narrow down your brand into a specific niche. Identifying a niche includes branding, customer demographics, and production practices. The more specific your niche is, the easier it is to come up with the styles, designs and pricing points.
For instance, if you want to focus on streetwear, you should narrow it down to teen, style, and other categories. Of course, you can expand in the future, but starting small is the best way to become successful.
2. Market Research is Essential
Of course, before finalising your niche, you should conduct market research first. It allows you to identify if your niche and initial plans are doable. In doing so, you should assess the current trends, competitors, and customer reach.
Even if it’s not a fashion brand, you still need to conduct market research no matter what type of business you’re trying to launch.
3. Create a Strong Brand Identity
Once you have conducted market research, the next thing you should focus on is the brand identity. You should incorporate your niche and all the elements that can tell that it’s your brand, in creating the brand name, logo, and tone.
In this step, you can ask for the help of a fashion eCommerce agency. They can guide you through identifying your branding, especially since you’re based online.
4. Quality Materials and Trusted Sources
Quality is the first thing consumers consider when buying a fashion piece. Even if it’s a bit pricey, you can still have customers if the materials and fabrics used are exceptional. So, as you progress with your business plan, you should also start looking for the right suppliers and manufacturers that can give you the quality of products you expect for your brand.
5. Ecommerce Platform & Website
Speaking of a fashion eCommerce agency, you should consider hiring one, especially if you still don’t have a website. Once you established your branding, it’s time to put it online. As they say, your website serves as the storefront of your brand, so it must be captivating and easy to navigate.
6. Pricing
Identifying the price point of your products is also important. In doing so, you should consider the competition, cost analysis, and discounts for your customers. Offering discounts and promotions is essential, especially after launching your brand.
Besides, pricing can attract more customers, especially loyal ones, if they find your brand worth it.
7. Marketing and Social Media Strategy
Since you’re launching a fashion eCommerce brand, you should always be online. Nowadays, you can post content on any social media platform. You can do it for free, but as your brand moves forward, you should also avail of the sponsored posts to reach your target audience at a wider range.
In terms of the posts, you should do it at the perfect timing, and always be consistent.
8. Logistics and Fulfilment
Since it’s an online shop, you should also arrange the logistics. From receiving the items from the suppliers and manufacturers, sorting them in your warehouse, and dispatching them to the delivery services until the items reach your customers.
For instance, if you’re brand is focused on providing eco-friendly items, you should also partner with other businesses practising the same principles.
9. Legal Considerations
Although your fashion brand focuses on eCommerce, you still need to accomplish legal requirements, including availing of liability insurance, filing for trademarks and patents, and accomplishing permits and licences.
You can hire a legal counsel to help you manage all the requirements. Of course, before filing any legal permits and papers, you should check things over again.
10. Patience and Persistence
Starting a fashion business may take years before becoming successful. This is why you should be prepared to devote your time and effort to becoming successful.
In addition, it’s fine to make mistakes, as long as you’re learning from them, and using them as a way to improve your work ethic.
Final Thoughts
If you’re ready to take a huge step and start your online fashion business, don’t hesitate to do so. However, it requires a lot of preparation and investment. By considering the things mentioned above, you can have a great start that may lead to a successful brand.
ABOUT THE AUTHOR
Aliana Baraquio is a web content writer at Design and Build Co., a specialist digital agency for fashion and luxury brands that helps clients maximise their digital presence and remain agile in a rapidly changing environment. You can catch her browsing the internet for the latest hairstyles and hair care tips in her free time.