How to Stay Ahead of the Competition in the Fashion Business

The fashion industry market is a highly competitive one. To achieve success, you must stay ahead of the competition. However, you can also benefit from having competition by observing how they do business and what they do well. The fashion industry is also one of the fastest-growing industries in the world, where apparel makes the largest category in e-commerce. You need to establish a strong identity to stand out from the crowd. Keep reading to learn more about how to stay ahead of the competition in the fashion business. 

First of all, one of the most important things to stay ahead of the competition is to have a clearly defined target audience. Consumers appreciate shopping on multiple channels, so make sure to enable them to do that. Right from the start, you should be working on building a consistent brand image. Also another thing that is gaining on popularity is the social responsibility of a brand. Moreover, you must practice your core values with every action you take.

• Have a clearly defined target audience

As fashion is a vast industry with various potential target audience groups, it’s vital defining your target audience clearly. If you have a fashion brand for teenagers, your marketing plan should target reaching them specifically. Otherwise, your efforts are futile. First, you must understand your brand and whether it’s aimed at all people or specific target groups. Gender, age, interests and other things characterise different customer groups. You can create your unique selling point with a clearly defined target audience. You should keep one thing in mind, though. Having a clearly defined target audience doesn’t necessarily mean narrowing down your target audience. The aim of your brand should be to convey your message effectively to your target audience. In practice, if you are one of the local clothing wholesale suppliers, your target audience is local fashion stores you can buy wholesale clothes from you and resell them.

• Enable shopping on multiple channels

One of the most notable trends in the fashion industry is its shift to eCommerce. When it comes to analysing the channels where shoppers prefer to shop, we can observe that they prefer shopping across multiple channels, including mobile phones, in-store, via social eCommerce and online marketplaces. These changes prompt fashion brands to meet their customers everywhere they like to shop and offer them a seamless transition. Combining offline and online shopping can increase your customer base by having a broader reach and increasing brand influence in that way. In addition to having a physical store, you can run your website, build your social media presence and promote your products on various online marketplaces. This should all lead to an omnichannel shopping experience. 

• Build a consistent brand image

Building a consistent brand image should be something you focus on right from the beginning. You could start by asking yourself how you would express yourself if your brand were a person with a personality. Regarding fashion brands and their brand image, it is of utmost importance to be and stay consistent. Otherwise, your consumers will need clarification. Besides determining the target audience, fashion brands should also choose a style, which can be for the whole brand or a specific look. Being consistent in your brand image sets you apart from the competition. You should maintain your consistency across all channels, and it should be reflected in your logo and in delivering brand messages.

• Be socially responsible

Another thing that’s gaining popularity is the social responsibility of fashion brands. Many people nowadays are ecologically conscious and base their buying decisions on matters such as sustainability, ethics and inclusivity concerning a fashion brand in question. To stand out from the crowd, you should consider changing your brand into a more sustainable, ethical and inclusive brand. It is what consumers appreciate these days.

• Practice your core values

Over three-quarters of consumers say authenticity is vital when deciding which brand is their favourite. Your core values shouldn’t just be listed in your ‘About us’ section. Instead, you should show them in practice with every action you take. Core values are something that should truly matter to you and not just something you write as you think it’s what people want to hear. People see through these kinds of values pretty quickly. For instance, if you claim a garment is eco-friendly, ensure that the materials and the manufacturing procedures are sustainable. Don’t claim something that’s not entirely true. 

Even though staying ahead of the competition in the fashion industry world might sound complex and impossible to achieve, it is, in fact, simple, as all you need to do is be genuine and straightforward and, of course, be able to analyse the market well.