The lingerie industry, like fashion, can be cruel at times. Operating in the corporate lingerie industry may be a competitive, stressful, and draining affair, leaving you with tales to equal those in the worst nightmares! Despite being a smaller segment of the fashion business, the underwear market has been rising, and demand for speedier turnaround times and cutting-edge items is as strong as ever.
Big major businesses are continually taking designs from smaller independent labels and selling them to the people at reduced rates, and often with lesser quality. Organizations are sacrificing quality and labour to reach a larger audience and generate more income.
So, here are 7 things to note before launching your lingeries brand. Read on!
1. Identify Your Ideal Consumer
This may seem self-evident, but if you’re not aware of who your target clientele is, you’ll have a hard time keeping them. We don’t just imply knowing who your customer is; I mean genuinely understanding what he or she does, wants, and thinks. What are their ages? What city do they call home? What are their earnings? What are their favourite colours? What stores do they shop at for their clothes? A middle-aged housewife with discretionary income may not be interested in purchasing a sequin G-string with accompanying garter, and failing to personalize your offering to her needs might quickly result in a slew of lost chances.
Polls, peer reviews, and research are all effective methods for learning about your consumers’ perceptions and purchasing habits. Identifying an actual person (star, athlete, musician) as your target client is yet another useful strategy. learn everything there is to know about that person and you’ll soon be able to pick up on subtle hints and information about what they wear and where they bought.
2. Estimate Your Launch Time the Double It
Create a business strategy and a timeframe after you understand the route you want to take your new business. The process appeared onerous, what with acquiring the financial start-up, registering the firm, purchasing merchandise, developing a website, and getting the word out there. “Two months,” you may promise yourself after registering your business name and forming your legal entity. Even if you worked 24 hours a day, 7 days a week to make it happen! In most cases, two months stretched into three, and three months turned into four.
So basically, if you estimate your launch time, double it so that you can be on the safe side and cover everything before launching.
3. Have a Marketing Strategy
Marketing is an integral part of any business. Therefore, it’s advisable to find marketing strategies that will work for you.
Being new in the market, we can advocate for you to consider the following:
4. Trade Shows
Trade exhibitions are a great way to observe what your competition has been up to as well as a simple approach to show off your latest fashion trends. Make sure you have a good booth and expo signs for your exhibit. They are one-of-a-kind and stick out from the crowd, making their distinction significant.
5. Employ Video Marketing
It’s no surprise that the video has a huge following. When contrasted to those who don’t, advertisers who use video earn a couple of percent more. So, if you haven’t done so already, hop on the video marketing tide! Video can be used in a variety of ways in the fashion industry.
Possibilities include modelling your best-selling items, showing your Summer lingeries collection, and providing a sneak glimpse into a new range. Video marketing can help with social media ads, your website, and email marketing campaigns, among other things.
To prepare for this, get models to do a runway of your lingeries brand and have it recorded to make a video. You can then use retail screens to display the videos when you launch your brand.
6. Work With Fashion Bloggers
This isn’t a brand-new strategy, but it’s one that a lot of renowned fashion marketers use. If you can build a list of social media celebrities and find opportunities to involve them in sensitization and promoting your lingerie brand and product, your audience will grow in lockstep with theirs.
For a pointer, find influencers that are willing to wear your brand so that people can find you. For instance, an influencer that has at some point advertised female workout outfits will be willing and comfortable to wear lingeries and influence others following her to do so.
7. Make Social Media Your Friend
Don’t forget to include dollars for sales and promotions in your spending plan to get your brand out there and attract new clients. Smart budgeting, on the other hand, is critical, and it can pay to be resourceful with your assets.
For next to no money, social media is an excellent area to develop a presence and grow a following. Your target client is likely to utilize social media daily, whether it’s Facebook, Twitter, Instagram, or one of the many other platforms.
So what better method to connect with them than to pitch to their desires directly? Indeed, social media has become such an integral part of our lives that failing to build a presence on one or more of these platforms could jeopardize your reputation as a trustworthy company!
The Bottom Line
Launching a business is quite difficult. The lingeries industry is a much more competitive sector in the fashion industry. The pointers given in this article will help you to know the key areas to concentrate on. All the Best!