You were having some idea popping in your head to start a business in fashion. You have some other priorities and this idea was only being delayed and delayed. Now that you finally decided to make it real, the problems arrived. The first question that needs an answer is the brand niche.
What is a brand niche and how to choose it?
Brand niche is the segment of the market you are going to sell your products to. Whether that be formal wear, sportswear, or sleeping wear, you need to know your target market. Who will be your consumers and what kind of clothing they are willing to buy?
When you have to choose for your niche, two situations are appearing. Either you want to launch with jeans, shirts, socks and end up with many products on the list, or you found yourself completely lost, without any particular idea of what should you sell on the market. Both ways are completely extreme and won’t help you define your niche. You need to start with one niche, and you have options to switch to something else later.
Here are some 5 simple tips put together in a simple guide to make it easy for you when choosing a brand niche in fashion.
1. Know your passions and skills
The engine behind your business is you. You and your team. Putting your skills, ideas, passion is your magic spell to make the business grow. And that is an important step you need to take, to know which skills you need for the business. Which passion motivates you to jump in the business area and would make you stand in the tough periods? Make a list of your interests, your skills, and determine how can those qualities of you help you in your business.
2. Determine the values of your business
Most customers buy products based on brand values. Making a list of values will connect you more with the customers. If you have a hard time defining the values, look at your favorite brands and what they stand for. You will have at least an example of how your values should look like. The values of your business should be in close relation to the passions you have.
3. Define your area and ideal customer
Make a plan on the area you want to start in. Whether that’s going to be menswear, streetwear, or bridal wear you need to choose the target audience. Decide how you are going to sell it, is it going to sell online, in the stores, or both. The other decision you need to make is for the quality of the product, often related to the product price.
When it comes to defining the ideal customer, the brand needs to know the customers’ preferences, wants, and needs. You probably have many friends who can fit into your ideal customer profile. Show them your concept and ideas of the product and see if you can improve it before you launch it. Just pick the right people you think should fit the profile.
4. Research your market
After all the ideas and concepts, you need to go out there and make research on your own. By making research you will get to know your competitors, their prices, their offers. Analyze your strengths and weaknesses to help you improve your brand and make you differentiate from the competition and appear with a unique offer on the market.
5. Testing before launch
Testing is a great way to see if everything is included, in case you missed something. Present your idea to the closest people by testing it with them. You will notice if you need to change your niche or stick to it. Make sure you adjust your vision to the wants and needs of the customers and success will be guaranteed.