The fashion industry had to adapt to survive in the last few years, especially through the pandemic. Huge brands filed for bankruptcy, supply chains dwindled, fashion month got cancelled, and consumer spending habits changed drastically.
Retail brands need to reshape their business goals, priorities and marketing strategies to stay afloat. A significant drop in demand for non-essential goods and retail stores closing again doesn’t help matters.
However, the pandemic has taught the fashion industry some vital business lessons. Consider these tips and tricks to keep your business alive in 2021.
Online shopping is a vital part of the fashion industry, now more than ever. Invest in social media, advertising and Google Ads to promote your digital presence. Your brand should have a consistent digital personality and message that catches your target consumer’s attention. There is no point in throwing a few random Instagram posts into the abyss and hoping to increase sales. You need a detailed social media strategy with scheduled posting and achievable goals in place.
Focus on your existing customers
The fashion industry is in ruins – work with what you already have. Focus on your existing customer base by sustaining strong connections with loyal consumers. Outline your safety precautions, be mindful of COVID-19 and keep your messaging consistent. Consider using personalised email marketing and customer service to sustain strong connections with your consumers.
You need a plan in place for when the stores re-open. You need to reinvent your store and find new ways to encourage consumers to shop in person, instead of online. Safety is paramount.
Host food and drink events so your consumers can experience the store, instead of just browsing through it. Promote your latest women’s trousers collection with cocktails and burgers from a local business. The hospitality industry is struggling as well, so why not support each other?
If Millennials and Gen-Z make up a large portion of your customer base, it’s time to make your brand more sustainable. Fast fashion has a detrimental impact on greenhouse gas emissions and contributes mass amounts of excess material to landfills. Remaining tone-deaf to sustainability can hurt your brand’s image and earnings overall.
Use local suppliers to deliver small amounts of high-quality material and support your local community in the process. Nearly 50% of fast fashion retailers have noticed a decline in sales. Stay ahead of the curve and make sustainability a priority in your business.