The coronavirus pandemic is still impacting the global supply chains, though the fashion e-commerce market projected to grow fast in the next three years. It is due to customer behaviors, who tend to increase their spending online. So how to grab a piece of the cake?
Focus on a clear mission
As a fashion brand, you may easily achieve mass-market appeal by offering a wide range of products that target wide range of customers. But it is true only you are a large brand, and more difficult if you are a smaller brand.
So instead of applying traditional strategies, you should have a unique vision and mission which is the key for small businesses to beak through in the insdustry. Focus on a niche and position yourself around targets that you and your business aspire to. These targets can relate to quality, environment, your staff and other aspects.
Figure out how your business can improve the world we live and what the buyers really need to live a better life. And note that, it is not all about improving customer trust, health and retoring willpower; but also about get rid of the habits that have left us behind.
Determine what your brand stands for, and deliver your product information to the right people. You should do thorough research on what niche you want in and put out a strategy that puts these insights to work.
Widen partnership network
After efforts to attract early customers, think abour scaling up your business operation. Most e-commerce fashion brands would try to forge partnerships with non-competitive and smaller businesses. This helps them scale up their customer base and resources for a combined net positive effect for both.
For example, Adidas is a popular brand for its running shoes and sportwear. But it always try to widen its customer base by forging partnerships with many bon-competing brands, including Prada, Dragon Ball and more. The results are both of them benefited from cross-promotion and media coverage, increasing sales and boosting brand recognition.
You should consider accepting external financing to scale up your production and marketing efforts. These days, many businesses are willing to trade stakes in their company in exchange for funding – even marketing and sales tasks – from venture fund.
One important thing that you should remember: carefully select your partnerships so your brand could be lucrative in the short term and highly strategic in the long term.
Be your own influencer
Nowadays, many fashion e-comomerce brands are looking to influencer marketing as one of the best methods to introduce their products to customers, raise awareness and drive customer engagement.
But the problem is, because there are so many brands applying this method as a part of their social strategy, the fashion e-commerce market is becoming saturated. Besides, influencer fraud is now on the rise and more than more than 60 percent of influencers now using artificial methods to grow their followings and other metrics, fashion brands now need to remain vigilant.
And, though using influencer marketing can help you achieve a positive return on investment, you could still be your own influencer. It could help your brands optimize spending by forming your own influencer channels. Consider growing a subtantial following on relevant social media platforms and offering genuine value to viewers.
These methods could simply boost the media presence of your brand’s on social media platforms, to influencer status directly. Then its could help you build a relationship with your customers, not only help them maximize their view on your fashion products, but also give yourself a chance to market products.
Or your could build a more general channel that covers topics that related to fashion, such as beauty and health, style and trends…This would help you build up a wider customer base, including customers who care about not only fashion but other related issues also.