How to make your fashion brand stand out in a competitive market
Fashion is an industry that is rapidly growing. New trends are introduced each year, or even every quarter. With a projected revenue of $684 million by 2025, apparel is the largest fashion category on ecommerce. However, in such a growing industry, there will be fierce competition. To stand out in a saturated marketplace, your brand must have a strong identity.
This article will give you the most recent insights into the fashion industry and eight tips that fashion brand stand can use in order to create a bold identity.
Fashion Industry Today
Fashion has seen a lot of changes since the mid-19th century, when clothes were made by tailors. This process became more automated as fashion items today are mass-produced. Ecommerce is now a major selling channel due to the growth of mobile usage and unexpected effects of COVID-19. Let’s take a deeper look at each movement and see the opportunities and challenges brands need to pay attention to.
Fashion has become more competitive.
Fashion businesses are expanding across all sectors, from local to international brands to wholesalers to retailers. There has been a rise in popularity of second-hand thrifting shops, which are becoming more popular among price-conscious and sustainability-minded shoppers. Customers now have more options because there are many players in the fashion industry.
Fashion has become more competitive because of its diverse business models. Innovation is essential to succeed in this rapidly changing industry.
Online and mobile platforms have been increasingly popular.
The fashion industry is a significant B2C market when it comes to ecommerce in 2020. Many people are switching to ecommerce to avoid shopping in-store. It is now a common practice to browse through catalogues, choose items, and then check out online. Fashion brands are finding new ways to make it easy for customers to shop online and offline.
Mobile platforms are also gaining popularity. Google found that 59% of shoppers consider mobile shopping an important factor when choosing brands to shop with. To accommodate this large number of users, many mobile apps were created. Many larger companies have their own native apps.
Customers consider sustainability and ethical sourcing when making purchase decisions.
Fashion is one of the most important industries in the world. This has led to a lot of criticism regarding sustainability and other ethical values. According to UNECE, fashion accounts for 10% of the world’s carbon dioxide emissions. People are becoming more conscious of the environmental impact of clothing production and poor working conditions in sweatshops. They are now more conscious of the environmental impact of clothing production and prefer to choose carefully their fashion brands.