Retail Apparel and Clothing Business Consulting Services
Retail Clothing / Apparel Industry
By now, it is clear that no matter how badly we may want to go back to the ‘normal’ as we knew it before the pandemic of 2020; we will have to embrace the ‘new normal’. Even a small change in consumer behaviour calls for big adjustments on the part of businesses. And here we are looking at some major shifts in consumer behaviour brought about by lockdowns, curfews, social distancing, staying home, etc. These conditions are going to hold in the foreseeable future as the world’s economy prepares to stage a comeback.
Fashion retail businesses that survived the economic onslaught of the recent quarters have accepted the changed business environment. Improvisations in doing business are being explored. New challenges have begun to appear. The demand in the fashion markets that were subdued for months has started to show signs of improvement. With trade and travel restrictions being eased, fashion businesses are trying to re-establish their trading connections with suppliers and customers. As for the fashion retailers, they will need to bat an eye on the trends and development in the industry.
Up and coming in the Retail Fashion and Apparel Industry
The veteran fashion clothing consultants (business) anticipate that the big brands will be the torchbearers in the fashion and apparel industry in the coming months. With the might of their expertise and resources, the big fashion houses will quickly retain their dominance in the domestic and foreign markets. Aggressive marketing tactics will be apparent. Supply chain integrations and collaborations at the international level might emerge as a powerful diversification strategy. The outcome of their efforts will be the learning lessons for other businesses in the industry. Independent fashion brands and retailers are likely to take cautious and short-term stands.
Cautious demand forecasting
Even if consumer demand is on a rising trend, fashion retailers might remain pessimistic about it. This is especially true for the leading brands with chains of stores. As fashion clothing consulting (business) experts, we also see that any demand estimation over the board will lead to the creation of surplus inventory and stuck investments. Such pessimism is driven by apprehensions of lockdowns and curfews in the near future. Traditional and independent retailers and wholesalers will have to excogitate new ways of doing business for survival.
Consumer demand not going anywhere
While it will not be difficult for fashion brands to draw back customers who already love shopping, efforts will be required to entice customers with the buying power but the lockdowns and curfews have dampened their motives. In our fashion and apparel consulting experience, we have observed that offers and discounts have always been one of the best tools available to retailers to generate more sales.
Need to explore new market regions
Fashion businesses have to diversify their locational market risks. As fashion clothing consulting (business) experts, we can tell that by confining to one market, brands would be putting their business at risk. The outbreak of the virus variants has been discrete and unpredictable and different countries and regions within the same country have different levels of countermeasures deployed.
Omnichannel is the way forward
What was slated to be achieved with the digitization of retail in years has now been narrowed down to months. With lockdowns and curfews in place, it was eCommerce that came to the rescue. As eCommerce was allowed in many countries, it provided a sigh of relief to retailers and manufacturers to keep their business afloat. It is appreciable of the governments that managed to keep the production and supply chain networks active during a time of crisis. Many clothing industry consulting experts believe that going forward, digital commerce in fashion retail will hold the key to quickly gain back the lost momentum in sales. This was evident in the performance of several eCommerce marketplaces in the last one year or so. It will also complement the changed consumer behaviour in terms of lesser outdoor shopping activities and maintaining the norms of social distancing in stores and other public places and commutes.
Impact of geopolitics
As the world’s largest manufacturer and exporter of textile and footwear, China plays a big role in the global fashion industry. Fashion clothing consultants, apparel consulting experts and clothing industry consulting business experts know this. The fragility of geopolitics never augured well for business. Any major upheaval in geopolitics could further disrupt the global production and supply chains. And if that happens, the fashion markets around the world are bound to feel its heat.
Re-emphasis on the franchise route
Both big and independent fashion brands and businesses are likely to shift their focus to the franchise route. Our team of clothing industry consultant business experts already see that trend. Fashion brands and retailers will have to cover a few extra miles for bringing customers back to action. It is an open highway for the big brands to formulate their franchise expansion strategy. Done right, they could be doing more business than ever before. Franchisees will have to ensure that their interests are protected. Business growth and development has to be proportionately justified. And it makes sense to avail the expertise and experience of fashion clothing consultants (business).
An opportunity in disguise?
The retail fashion industry has the potential to bounce back strong. The recent slowdown in the industry has many positives. It continues to be a time to retrospect business vision and strategies going into the future. For the small players, there was never a better time to comprehend and realize the importance of eCommerce. It has given the big fashion brands an opportunity to revisit production and environmental concerns. Many experienced clothing industry consultants assert that this is the storm we need to come out of stronger.
How YRC can help
Established in 2012, YRC (Your Retail Coach) is a retail and eCommerce consulting firm. We provide omnichannel business consulting services, including apparel consulting services, to fashion brands and retailers. From business model validation to operational planning, we offer a multitude of services in the fashion and apparel sector under our apparel industry consulting services.
Clients benefit from our market research, carried out by a team of expert apparel industry consultants, as we present an insightful and comprehensive perspective of the target market. The benefits also extend to reading and comprehending new market regions. For example, many fashion and apparel businesses from around the world want to know more about starting and operating a clothing business in India. Sometimes the question is how to start a clothing business online or is clothing business profitable. For many independent fashion designers, the question turns to how to start a fashion business from home. And they want answers from expert retail fashion and clothing consultants.
In fashion and apparel consulting services, our fashion business consultants and apparel consultants (business) help clients develop competitive business models based on niche and UVP for long-term growth and sustainability. Working with us, clients get to foresee the commercial and financial implications of their business projects and decisions. Whether it is opening a new store or starting an online sales channel, the relevant financial and commercial estimates shall be brought to the limelight including purchase planning and demand forecasting under our apparel industry consulting services. If it is a store-based business or warehousing is involved, our team of expert apparel industry consultants also deal with the layout planning part. Keeping in mind the requirements of the target segment and trends in consumer behaviour, our fashion and apparel consultants (business) craft CX strategies that complement the business priorities. We not only preach but also show how the implementation should take place in the form of SOP design and development. Here, our goal is to make the clients’ fashion and apparel business systems process-driven from the core so that they are always ready for scale and change.
We are a boutique retail and eCommerce consulting firm. For more information on our retail fashion business consulting services or if you have any queries for our team of fashion business consultants or apparel consultants (business), drop us a message and we shall get back to you.
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