The whole year lies ahead-and so do the countless challenges for the fashion and fitness entrepreneurs. Over and all, 2016 was great for the online clothing retailers. But there sure were few hiccups that troubled some.
Did you enjoy decent profit last year?
Yes or no, regardless; make 2017 great for your apparel business (without doing anything extraordinary). Here is a 5-step checklist you must tick-off this year to beat the ever-so-surging market competition and to generate higher revenue-
Re-define your exact target customers
While knowing your exact target audience is the most critical part of the strategy, you would be surprised just how many new online clothing retailers are reluctant towards it. So just in case were you targeting ‘everyone’ in 2016, don’t make the same mistake this year. Narrow down your approach and re-define your target customers according to your needs, current trends, geography and, of course, interest. Given the high market competition, micro-targeting is a key to success.
Give your apparel collection a reshuffle
Every year brings with it new shades of fashion and fitness trends. And to survive these market shifts, retailers must adjust their clothing collection accordingly and regularly. So give a close look to your collection and see it mirrors the current trends and customers’ changing buying needs. Like market pundits suggests denim joggers, turtlenecks and sublimation hoodies are going to be big in 2017; lookout for such analysis and predictions.
Focus on database marketing
Today, database marketing has all the attention it deserves of online retailers-especially the ones who lacks resource and money. Using database of the potential customers and designing the campaigns and message in alignment to that, it almost always assures of better conversion and improved revenue at a much lower customer acquisition cost. So spend more time in making sense of the data and making personalized campaigns.
Rely on men and women’s apparel dropshippers
This year, put off your stress of order fulfillment and make some time to enjoy your life. Be one of those smart retailers-take hands of top wholesale clothing distributors that dropship. These companies can significantly down your worries with their efficient inventory management and distribution services. To that, in the process, you also plug in many financial leakages (like shipping accidents), which helps you improve your profit margin easily.
Notch-up your after-sales service
For the clothing retailers, having a well-planned customer retention strategy is a must-and numbers prove this point well. A recent study found that 40 percent of an online store’s revenue is created by 8 percent of its customers; and this 8 percent is made up of repeat customers. So taking care of your existing customers is just as important as gaining the new ones. How you do that? By having a decent after-sales service, of course. So in 2017, design a perfect and satisfying follow-up strategy to keep in touch with your customers even after sales.
These are 5-step checklist online apparel business owners must tick-off in 2017 to stay ahead of the competition and improve sales performance. If you’re a clothing retailer, get to working right away.