Business trends are being changed every single day and fashion trends are also being changed rapidly. Soon we are going to see some transformation in fashion business and adopting new fashion business tactics are highly important. Long gone are the days where having a good product and advertise it well was enough to win customers, with a physical store to place such products. With the current complexity, a world where digital presence became a norm and consumers are closer than ever a mere screen away, the market today is much more exciting than it has ever been. Fabric suppliers are highly concerned about the upcoming trends and manufacturers are subject to adopt some business strategies in order to sustain in this line of business.
The New Paradigm On Demand
The status quo has changed: where once brands dictated the market, today consumers are the sovereign monarchs, and their wish must be attended because not keeping up-to-date with their demands might bring severe consequences to a brand. The shift of the fashion business model is clear, and it’s necessary to seduce the flimsy attention of millennial influencers, comprehend technology advances, and excel on sustainability challenges.
Digitalization is Essential
The consumer is close: easily reachable on digital and mobile platforms, and the majority of its demographic has a ubiquitous name — millennials. Those digital natives were raised with technology and are now old enough to consume on their own: reaching out those young consumers is about survival, hence the importance of being connected 24/7 and present a mature Omni channel experience it’s their logical way to shop.
Customization and Personalization
Exclusivity is always in the mind of the consumer and guides their behavior in different ways. Beyond product drops and collaboration, brands can also offer uniqueness through customization and personalization. Simple details like patches, pins and badges, embroidery, embossing or painting of names and monograms, and tailoring (like some of Levi’s shops).
Collaborate with Big Brands
Remember the waiting list for Louis Vuitton and Stephen Sprouse’s first collaboration in 2001? Be it luxury or not, collaboration creates a sense of exclusivity for the customers and gives more creative power for the brands, not to mention the ability to align their vision and connect to like-minded artists, influencers or even other brands (like the Louis Vuitton x Supreme collaboration). This strategy can also be aligned with product “drop” to create a bigger buzz.
Demand Beyond Products
Sustainability is another big shift in consumer behavior and in the fashion business model in general. The concern for more sustainable practices, and eco-friendly alternatives for fabrics and materials, are increasing constantly; and improving marks towards the subject can mean a significant competitive advantage not to mention a better planet.
In short, there is new demands among the consumers and fashion entrepreneur and meeting demands is one of the most important factor in the entire industry. Digitalization, collaboration, new product line consisting sustainable materials are highly important. So fashion business startups need to adopt this and big companies also need to meet these demands as well.
The New Paradigm On Demand
The status quo has changed: where once brands dictated the market, today consumers are the sovereign monarchs, and their wish must be attended because not keeping up-to-date with their demands might bring severe consequences to a brand. The shift of the fashion business model is clear, and it’s necessary to seduce the flimsy attention of millennial influencers, comprehend technology advances, and excel on sustainability challenges.
Digitalization is Essential
The consumer is close: easily reachable on digital and mobile platforms, and the majority of its demographic has a ubiquitous name — millennials. Those digital natives were raised with technology and are now old enough to consume on their own: reaching out those young consumers is about survival, hence the importance of being connected 24/7 and present a mature Omni channel experience it’s their logical way to shop.
Customization and Personalization
Exclusivity is always in the mind of the consumer and guides their behavior in different ways. Beyond product drops and collaboration, brands can also offer uniqueness through customization and personalization. Simple details like patches, pins and badges, embroidery, embossing or painting of names and monograms, and tailoring (like some of Levi’s shops).
Collaborate with Big Brands
Remember the waiting list for Louis Vuitton and Stephen Sprouse’s first collaboration in 2001? Be it luxury or not, collaboration creates a sense of exclusivity for the customers and gives more creative power for the brands, not to mention the ability to align their vision and connect to like-minded artists, influencers or even other brands (like the Louis Vuitton x Supreme collaboration). This strategy can also be aligned with product “drop” to create a bigger buzz.
Demand Beyond Products
Sustainability is another big shift in consumer behavior and in the fashion business model in general. The concern for more sustainable practices, and eco-friendly alternatives for fabrics and materials, are increasing constantly; and improving marks towards the subject can mean a significant competitive advantage not to mention a better planet.
In short, there is new demands among the consumers and fashion entrepreneur and meeting demands is one of the most important factor in the entire industry. Digitalization, collaboration, new product line consisting sustainable materials are highly important. So fashion business startups need to adopt this and big companies also need to meet these demands as well.
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