31 March 2023, Mumbai
Fashion companies are paying attention. California-based premium fashion label Dôen is introducing a resale scheme named Hand Me Dôen. Customers can turn in used Dôen goods for store credit through the program. When the resold item becomes available, Dôen will hold flash sales all year. Reselling cannot always keep clients from visiting the site and discovering it is already besieged.
The harmonic marketing mix is vital for apparel brands to reach out to their target audience precisely & effectively, and no gainsaying that all this would mean a fair balancing of metrics like product, price, promotion, and distribution strategies aiming at achieving their business goals and larger purpose.
Online and Offline Strategies Compared; You have to put your foot on the ground with an embedded approach of pragmatism. In response to criticism of its labor methods, Shein is now developing a resale marketplace. Some experts view the platform skeptically and think the firm only tries to greenwash its image. Fashion companies are paying attention.
From Bricks to Clicks; California-based premium fashion label Dôen is introducing a resale scheme named Hand Me Dôen. Customers can turn in used Dôen goods for store credit through the program. When the resold item becomes available, Dôen will hold flash sales all year.
Reselling cannot always keep clients from visiting the site and discovering it is already besieged. In response to criticism of its labor methods, Shein is now developing a resale marketplace. Some experts view the platform skeptically and think the firm only tries to greenwash its image.
Improving customer experience
It is the most critical piece of brands' marketing ensuring customer delight & WOW factor! at all the touch points of the marketing spectrum. Therefore, the need of the day is that it is business imperative today that apparel brands ought to prioritize a seamless omnichannel strategy, offering personalized counseling/recommendations, critical in-store events where the final conversion happens, tech-driven supply chains, high cash conversion, and use enabling emerging innovative technologies to maintain at the end of it attaining consistency across all marketing mix elements wired in the methodology.
The secret of modern e-commerce has long been praised as personalization. By displaying products a customer was previously interested in or retargeting them based on their behavior on your e-commerce website, you're giving them a customized online shopping experience that encourages them to purchase.
According to a study,44% of consumers are okay with businesses utilizing their personal information to improve customer experiences, such as product suggestions and personalized communications.
There is a thin line, though. Privacy concerns are growing among online customers. Because too much personalization may be creepy, consumers are three times more likely to leave firms that over-personalize.
On the Global Scale
When Vanessa Barboni Hallik started developing a new line of women's clothing with sustainable sourcing, she had in mind a direct-to-consumer business strategy that would avoid established retailers and the problematic, sometimes money-draining world of wholesale.
Six weeks before the epidemic began, she launched Another Future as a digital firm, utilizing social media and search engine marketing to attract prospective clients. Yet she had always intended to have a real shop. Ms. Barboni Hallik, a former managing director at Morgan Stanley, concentrated on Greenwich Village, a thriving district in Manhattan with many vacant storefronts even before the pandemic.
The Great Divide
In the digital age, the dilemma apparel brands keep facing is fine balancing their click-and-mortar and physical key marketing strategies to reach & penetrate their specific target audience. And key to trade insight for the brands is to align/adapt to changing consumer behavior as it could be very tricky otherwise while maintaining a strong brand image and customer loyalty as a tightrope walk.
Apparel Brands' Marketing and Distribution Approach in the Digital Age
Smaller businesses are also experimenting, building free-standing shops, leasing from a retail service, or acquiring temporary spaces in other stores. This is similar to how some larger online enterprises, like Warby Parker and Allbirds, have been growing with physical presence for several years. Several things encourage business entrepreneurs.
Some companies have always included physical locations in their overall strategy by using what is referred to as an omnichannel strategy, which offers a seamless shopping experience across desktop, mobile, and physical platforms.
The Battle of Apparel Brands
According to Michael Brown, a partner in the consulting company Kearney's consumer goods and retail department, others find renting a shop more appealing due to the rising expense of social media advertising. He said that while the tipping point differs from one situation to the next, it usually happens where growth has stalled and the cost of gaining new consumers has climbed.
The Evolving Landscape of Apparel Brands' Marketing and Distribution Strategies
Apparel Brands' Dilemma: Online Dominance or Offline Resilience Today when digitization is the way forward and the pandemic has only served as a fundamental tailwind pushing Apparel brands to weigh the pros & cons between on one hand the convenience of online shopping and the clearcut gains of the brick-and-mortar experiences, the spectrum goes like personalized service and in-store events/promotional avenues creating an experential seamless omnichannel experience for customers of the day.
Divine relationship between traditional & digital advertising, leveraging each channel's strengths to engage customers and translate it into business eventually.
Thesis on Apparel Brands Balance their Marketing Mix
Yes, balancing the marketing mix is very tricky as how apparel brands can figure out this to stay competitive, improve customer centricity/loyalty, to arrive at what the deeper issue of purpose and business goals is by getting a nuanced comprehension and at the end meeting/exceeding their customer's needs/wants and preferences quite effectively.
Alphabets; A B C D of the marketing mix is that typically it involves the funda of four Ps: Product, Price, Promotion, and Place, and let us categorically describe here to be a successful marketing strategy requiring calculative/measured consideration and optimization of every single element of the marketing-puzzle.
Let us dive deep into every single element one by one:
Nuances; First, the product side will be about designing and developing apparel products to meet the aspirations, needs, likes, choices and so to say preferences of the given target market critical is that apparel brands need to get insights into their target audience around lifestyles, and fashion trends creating/curating/bespoke products that appeal & meeting expectations of their target audience.
This is to be mentioned here that it would require the rigor of conducting market research, analyzing consumer behavior/buying behaviour algorithms, and nuanced granular approach/understanding of the dynamic competitive landscape with a definite objective as a long-term roadmap.
Pricing is element number two with the potential of influencing consumer perception of value and their willingness to pay as in value for money she looks for also, which ensures sustainable survival and growth of apparel brands and elephant in the room is discounts dear to bargain hunting Indian consumer.
Third, promotion involves communication because communication is needed even to sell gold at gold prices using a slew of marketing channels to bring on the table value for the resource spent as ROI (return on investment) such as social media, advertising, and public relations, to reach apparel brands' target audience effectively considering the available options to be picked & chosen out of messaging, tone, and content of their promotional materials cleverly aimed at influencing and to resonate with their customers.
Location..location..location; Finally, the conundrum of the place element of the marketing mix warrants apparel products to tick all the right boxes like making products available to customers in the right locations, through the right channels, and at the right time while what needs to be looked at the brands level is a measured approach around issues e.g. distribution channels, inventory management, and logistics ensuring that they deliver articles at the beck & call of their customers.
Sum & substance; To reach their audience, apparel brands need to balance metrics like product, price, promotion, and distribution. A mix of online/offline strategies and personalization is key for customer experience.
A range of marketing channels can bring value, improving ROI. A balanced marketing mix helps meet customer needs, increase loyalty, and achieve business goals.
