It seems like someone somewhere is launching an online clothing business every day. While as aspiringly they kickstart their venture, not all of them taste the same level of expected success. Clueless on how to go about in the right direction, majority end up settled with marginalized returns; some even extinct.
So, if you’re planning to race on the same path, it’s important that you know exactly what to do. Or more crucially, you must know what needs to be done. Here are the wrong ways of starting an online apparel business:
1) Warehousing your collection
The risk is always a part of every business. However, thanks to the dropshipping model, this notion is a thing of the past (up to a large extent). You sign up for a dropship plan, pick your wholesale collection and then integrate the products on your online store. Upon making any sales, your manufacturer-cum-dropshipper fulfills the order on your behalf.
You don’t have to take the hassle of maintaining a warehouse and neither do you have to make a hefty initial investment. This minimizes your risks and maximizes your efficiency. All you’ve got to do is to hire a good dropship company.
2) Having just one store
The web is flooded with many marketplaces and selling channels. Today, the majority of successful online sellers own multiple storefronts-from having their own self-hosted stores to being on Amazon, eBay, and Jet.com. Having more than one store seamlessly improve their chances of higher sales. Of course, this adds to their pot of responsibility. But if they manage to balance the work effectively, high return from their endeavor almost always become imminent.
3) Teaming with a poor partner
In the dropshipping model, the success of your business would largely depend on the American apparel dropship company you’ve partnered with. So, it is imperative that you’re teaming up with a good dropshipper who not only have a good collection of women and men’s wears but also provide adequate services of inventory management and order fulfillment. This would require you to do quite a bit of research though. With so many dropshippers out there, you’ve got to pick the right one.
4) Knowing nothing about pricing
Success in e-commerce depends not solely on your collection but also on your pricing strategy. The more strategically you have priced your products for the segmented audience, the more sales you will make. So, don’t just rush adding your desired profit margin to the cost price of your product. Think thoroughly first. Know how to use discounts and special occasions to trigger your buyers, how to market your price tags and discounts. This is one of those departments where, often undermined, you have to spend some time, thinking and planning.
5) Not scaling
Business needs to be continuously growing. This is how they sustain and yield consistent returns. Sadly, it is something that many business owners do not realize. Once your online clothing business is up and running, you must get to scale into another level. Talk to your dropship company, start selling more varieties of apparels, launch new storefronts, and keep on striding ahead. Do not stop.
These are wrong ways of launching and running an online running business. Now go, get things right from the get-go and be an owner of a flourishing business of new age.