Fashion e-commerce is rapidly growing and you want to set up your own e-commerce venture in order to get a piece of the pie. There are some mistakes however that fashion e-commerce entrepreneurs tend to make and you should ensure you are well aware of these so that you can stay clear of them when you start up.
Are you in the fashion e-commerce business?
Don’t Upsell Your Brand
The entire fashion industry generates sales by creating a desire to buy among customers. Conversions happen not based on the product value but rather perceived value. Take caution so you don’t attempt to create a perceived value that is too hard to digest or not grounded. This will lead to a disconnect in what the brand conveys and what the customer feels after purchasing the product.
Avoid Selling On Your Homepage
Fashion is aspirational, so style matters. Try and create a lasting impression and convey brand value on your e-commerce store using providers like Shopify. Trying to sell too much on your home-page can make your brand appear too sales-driven.
This might suit a value-for-money brand, but not a fashion brand. This is especially true when your target customers fall under the premium category segment, making them likely to place as much value on the purchase experience as the expense.
Try to strike a chord with the audience on the home page and engage them with a brand experience on your website.
You can create a better brand by introducing lookbooks on your home page
Avoid Getting Outdated
Change is the only constant when it comes to fashion. Staying updated while forecasting upcoming trends is an absolute necessity for a fashion business to thrive. Fashion brands must keep launching new collections and styles to keep their brand value fresh and buzzing.
Try To Keep Product Reviews Honest
It is one approach to filter reviews and makes sure customers see only positive feedback, although this does not help them make the right decision. Along with high chances of purchase, there are very high chances of return as well.
If the user does not like a product after delivery, it is going to get returned, causing losses to your business. Unless it is inappropriate, a few moderate or poor reviews don’t hurt and instead bring authenticity and trust to your brand.
Fashion is about creativity and art. When registering a domain come up with shop name ideas that you can use as a fashion brand name. Staying real will take it slow but keep it steady.
Try to create a brand identity that will integrate your marketing campaigns and your product lines. Each collection should easily claim a brand story of its own. This should be authentic and real. Try not to copy other famous outfits.
Make sure your products are sold only on your own portal or e-store. A fashion brand must have an identity and value that must be maintained to protect the perceived value.
If your product is available on other websites as well, this could bring its own problem. By becoming non-exclusive, you are forced to enter a price war, which is a bad place to be for a brand in the ‘fashion’ segment.
Experiment, But Carefully
It is common to come across new vendors when sourcing your products. When you find a good vendor with a good product, quality, and pricing, do not go all out and order in bulk. Test a small quantity and diligently study the feedback on it from your customers.
If it really is a desirable product that is selling fast, you can go ahead and increase your stock.
Do Not Sell Random Products
However stylish or creative a product might be, make sure it goes with the theme of your brand before adding it to your inventory. The industry you serve and the target customers who buy from you and the lifestyle they live all come into play.
Make sure all your products can still be holistically grouped into categories. For example: selling belts with clothing is completely fine, but electronics are not.
It is very common for certain trends to catch on and go viral. For a business, this means a certain product could sell rapidly over a very short period of time. Keep a close tab on your inventory so you don’t disappoint your customers with lack of stock.
However, on the flipside, make sure you are not overstocked with products. This could restrict your ability to stock on different products in the future.
Use Discounts Sparingly
Fashion and couture typically aren’t cheap. A product stays premium only as long as it’s desirable. So unlike other e-stores that may deploy discounts and offers at the drop of a hat, make sure you deploy your own pricing strategy with the utmost care. While discounts are a good propeller for sales at times, maintaining a balance is the key.
Be Selective With What You Want To Sell
Most of the leading fashion brands never venture out of their areas of expertise. This is for good reason. When selling a premium product, the quality, look, and feel has to be impeccable.
Maintaining quality on your core offerings as you expand across categories can be challenging. When brands try and sell anything they can, they end up diluting their brand value in the long run.
Running a fashion brand takes more than just basic business skills. If you avoid these mistakes, you’re likely to be in the right direction. Good luck!