Before getting into the topics, you may think about whether it’s a good decision to get into the clothing industry or not. Or you may have a question about why you should get into it. I ask why you shouldn’t get into clothing. To make it clear, I’ll give you some data about the opportunities in the Industry. Clothing is an essential aspect of life, next only to food. Clothing is one of the never-dying industries that won’t be affected by the digital revolution.
17 of the top 100 FORBES billionaires are from the fashion industry.
As per statistics, clothing consumption has grown explosively over the past 20 years. Fashion consumers buy over 80 billion new pieces of clothing every year. This is over 400% more than what we consumed just two decades ago. In 2016, approximately 107 billion units of apparel and 14.5 billion pairs of shoes were purchased worldwide. That amounts to every single individual on the planet buying roughly 13 garments and 2 pairs of shoes every year. If that seems like a lot, then keep in mind that this number doesn’t include the data of people in extreme poverty / unaccounted domestic clothing market sales.
In 2021, people consumed 16.7 units of apparel and footwear on average worldwide, spending $220,7 on average. Worldwide consumer spending on clothing and footwear amounts to an estimated $2,032,403.47 million in 2021. By 2025, that could amount to an estimated $2,571,939.42 million dollars.
All this said. Hope you got the clarity on why you shouldn’t miss the opportunity of starting a clothing Brand.
You shall also watch this article in video form at https://youtu.be/sDYi1HQAlIg
Make a simple business plan
By doing your research and planning everything out in advance, you are laying a solid foundation for your business. It’s important to think about who your customers will be when you’re creating a business plan. Consider who will be most interested in the products and services you’re offering. There’s more to starting a business than just having an idea. You’ll need to come up with a name for your business and set some goals. “Map out a strategic business plan that centers around tangible, realistic goals you can work toward with confidence.” Do your research and plan everything out in advance to create a solid foundation for your business.
Because your company exists to serve its customers, you should always keep them in mind when making decisions. Everything from the products you sell to how you communicate with them falls under this category. So, if women in their 30s are your target market, you should tailor your business decisions to maximize engagement with that specific audience.
Create your brand identity
Prepare a launch calendar
Design a collection or range of products to launch for the first season
Price the product
Price is an important factor when selling a product. If a product is too expensive, it is unlikely that people will buy it. On the other hand, if a product is too cheap, it is also unlikely that people will buy it.
consider the price structure based on your target customer, sales channel, and sourcing method.
For online sales: Landed Product cost + Advertising cost + your profit + Portal charges + Courier charges + Tax = Product Price.
For retail sales: Landed Cost + Marketing Cost + Your Profit + Wholesaler Margin + Retailer Margin + Tax = Product Price.
but remember, you’ll have to work these on Markdown calculation from the product price.
If you have a product idea, you can find a manufacturer to help you make it. Make a few samples to put your idea to the test and see how it turns out. When you’re satisfied with the results, you can tweak the design and mass-produce your product.
You might be wondering why sales come before manufacturing. There are ways to sell before you produce. Try to pre-book orders based on your design book and samples with stores/portals/wholesalers/importers. You can have sales feedback well before your production. You’ll have the clarity to go with the design, fabric, size-wise qty, fit, etc. With samples in hand, you should start selling, and taking orders simultaneously while producing.
There are several methods for producing it based on sample/price/ease of work/logistics/lead time.
You can either buy the raw materials and have them stitched on a contract basis
Alternatively, it can be outsourced as a package from yarn to dispatch.
Depending on the quantity, geography, and type of product, either method works.provide all necessary data to proceed with production and monitor each step Make an action plan for each process and stick to it.
Before accepting the delivery, inspect the products. Utilize logistics partners to deliver goods to customers or warehouses.
Research the best methods to market your brand
Launch a full-fledged sales campaign. There are different ways to market a brand. Some brands focus on advertising and public relations, while others may use direct-to-consumer marketing. It is important to research the best methods to market your brand so that you can reach the most people and generate the most revenue.
Some marketing methods that may be useful for your brand include:
Media Advertising: Ads can be targeted to specific demographics and can be used on television, radio, the internet, and other platforms. Ads can be expensive to create and maintain, but they can be effective in promoting your brand.
Public relations: PR can help your brand connect with the public and create
Brand Ambassador / Influencer Marketing
Take sales data, feedback, and learning into consideration before getting into the next cycle of production.