The fashion industry is no stranger to innovation. The digital revolution has continued to transform how people shop online, and globalization has allowed brands to reach broader audiences. This means that changes in consumer spending habits will affect fashion stores sooner than later.
Despite the threat of widespread retail apocalypse due to the coronavirus, it’s still viable for fashion brands to open an online store for their clothing and accessories. In fact, it can be argued that now’s the perfect time to open your own online store. In this article, we look at the reasons why you should start your own eCommerce fashion brand in 2022.
1. Improved Accessibility
With online traffic projected to increase by a lot in the next five years, consumers are spending more money on the internet. In addition, more people are discovering eCommerce as a channel for shopping.
It’s also a channel that offers an unmatched degree of accessibility. Online stores can be accessed 24/7, and a mere touch of a button is all it takes for a consumer to shop.
2. Increased Product Selection
Product selection is a key factor in your customers’ shopping experience. It’s the reason why online stores are still the preferred channel of shopping for the current generation.
As much as your brick-and-mortar stores are limited by their available floor space, your online store can bring you many more options without having to worry about additional operational costs. Just keep your store well-curated to avoid a chaotic shopping experience for your customers.
3. Reduced Operating Costs
The digital revolution has allowed brands and retailers to operate with much lower costs, and it’s an advantage that shouldn’t be ignored. In today’s era, anyone can start an online store without worrying about high upfront costs.
Online marketing costs are much lower than offline marketing costs, and the maintenance costs of an online store are also significantly lower than that of a brick-and-mortar store. So you’re getting more bang for your buck.
4. Ease of Managing Inventory
If you’re selling a high-volume product, then you probably have faced an inventory problem. As much as you want to keep your customers happy, restocking multiple products at a time is a considerable challenge.
But with an online store, you don’t have to worry about these problems. All you need to do is to make sure that your inventory is connected to your customers. You can either do this manually or automate the process by using an inventory management system.
5. Better Flexibility
Once you’ve built your online store, it gives you flexibility in the way you run your business – be it for marketing or supply chain.
Since a large portion of your customers will be engaging with your store through a mobile device, you are able to deliver a higher level of customer service through multiple channels. Moreover, moving from a store-based sales approach to an eCommerce store-based sales model will allow you to serve your clients better without leaving your home or office.
The eCommerce boom is here to stay, especially for fashion brands. As the digital era continues to unfold, more brands will be forced to open their own online stores in order to stay relevant. As such, the benefits that an online store has to offer are too good to be ignored, and with the ongoing rise of online traffic, it’s a wise choice to invest in an online store right now.
Interested in making your name in the eCommerce fashion industry? Join Black Business Global today! Our wide-reaching network is composed of restaurants, stores, and a variety of different establishments, all founded by Black entrepreneurs. You won’t find a better black-owned business director and marketplace out there. Reach out to our team today to be join Black Business Global.