WeeklySA_AdminSMART DRESSING – SMART BUSINESS: The essentials to run a successful fashion Image & Business
By Mpumi Brown
The fashion business is struggling during these pandemic times. This brings forth the tools required for a fashion online or retail business to utilise three themes which will boost engagement, business morale and sales.
One of the themes to delve into, is creating a human-touch lost walk-in shopping experiences that provide retail therapy and the physical touching of the garments.
The other two themes are to refocus on maximising sales and engagement with local customers and refining customer niche.
The themes identified for fashion businesses and consumers for 2021 include:
Less is more
Due to the change in times, more products do not necessarily yield more profits, according to McKinsey senior partner Achim Berg.
“The reality is that the consumer currently wants less. The consumer also wants more clarity. Brands are trying to achieve that.”
This exposes the quality versus quantity factor in fashion businesses and their approach. The customers have also minimised their spending in retail stores due to unemployment.
As stated by Josie Warden Head of Regenerative Design, “52% intend to make long-term changes to their fashion consumption, including a third of women who say they will be purchasing fewer items of clothing in the future“.
Celebrity stylist Allison Bornstein says that “we should drill down to the essentials and buy clothes that we actually like”.
“This less is more” approach also looks at styling techniques and merchandising.
Digital Sprint
Digital adaptation, virtual customer service and social shopping are key factors that fashion businesses must optimise to increase online experience to integrate human touch – in a textile field.
“E-commerce is clearly not offsetting the sales decline in stores. Nevertheless, it has been a lifeline for fashion brands as stores have been shuttered—and it will continue to be critical during and after the recovery period,” says Antonio Gonzalo of The Business of Fashion
Utilising at least one of these themes will bring you fashionistas, loyal customers and fashion lovers that love genuine retail space the themes will provide. Fashion companies that double down on strategy, align with key trends, and reflect an evolving consumer landscape are likely to emerge from the crisis stronger, leaner and ready to thrive in the next normal.
Travel Interrupted
Another theme for fashion business 2021 includes the decrease of tourism due to COVID-19, which has hindered and disrupted the growth of foreign trade and tourist purchases.
Fashion companies and small fashion businesses need to engage with their local customers and make strategic investments in recovering markets.
Companies must communicate, engage, and interact with customers in new ways. At the same time, consumption is changing.
Because consumers are looking for purpose and sustainability, a company’s mission is becoming more important than ever.
The Business of Fashion says, “ fashion companies will need to engage better and make strategic investments in fashion markets to unlock new revenue opportunities ”.
31 JULY………………………………………… RICHARDS BAY FASHION WALK
9 – 15 SEPTEMBER………………………….. NEW YORK FASHION WEEK
13 SEPTEMBER………………………………. MET GALA
17- 21 SEPTEMBER…………………………. LONDON FASHION WEEK
22-28 SEPTEMBER………………………….. MILAN FASHION WEEK
SEPTEMBER (TBC…………………………… SOUTH AFRICA FASHION WEEK
27 SEPTEMBER 6 OCTOBER…………….. PARIS FASHION WEEK
5-7 OCTOBER………………………………… BEAUTYWORLD MIDDLE EAST
15 – 17 OCTOBER……………………………. PORTUGAL FASHION
20 -25 OCTOBER……………………………. SEAUL FASHION WEEK
24 – 25 OCTOBER……………………………. VACOUVER FASHION WEEK
26 NOVEMBER………………………………. BLACK FRIDAY
6 – 10 DECEMBER. NEW YORK FASHION WEEK PRE-FALL & FALL/WINTER
