Fashion is a constantly evolving sector; seasons change and tastes change, which is why having a fashion ecommerce is as easy as it is challenging.
Everything’s subjective, as trends do exist, but we must remember that basing your business on them only is risky and doesn’t guarantee profits that are programmable in the long term.
Not only is fashion constantly changing, but so are the strategies that fashion ecommerce brands choose to implement. New technologies and new markets open the doors to new revenue opportunities.
So here are 7 trends to take into consideration if you have a fashion e-commerce or if you intend to open one soon:
- The e-commerce fashion industry is growing
- A global expansion of the market is on the way
- Vertical growth of luxury: accessories, clothing, shoes and sunglasses
- Customization of the online experience
- The future is made up of multi-channel social strategies
- Easy to use
- Fashion changes, but it always remains the same
1. The e-commerce fashion industry is growing.
The fashion business is one of the largest markets when it comes to ecommerce and further growth is expected by 2025, reaching up to $ 1 trillion. If we talk about fashion, we have to consider several sectors: accessories, footwear and finally clothing.
Over the next five years, the annual growth rate of fashion ecommerce will see an average growth of 7.18%, all of this because the rate of active paying customers and the number of ecommerce in retail fashion will increase. You better get on board now and ride this huge trend before the industry is saturated with competitors.
The estimate is for an increase divided as follows:
Clothing: + 12.7%
Footwear: + 11.6%
Bags and accessories: + 8.5%
2. A global expansion of the market is on the way.
Dropshipping is not as easy as the big business gurus want you to believe, but it opens up the possibility of expanding your business all over the world because, if you choose a leading supplier in the sector, you will have the possibility to ship to every state.
If you have a dropshipping fashion business, you will therefore be happy to know that the next few years will see a market strongly oriented towards global unification as a protagonist.
In the first place, we have China, which today and for the next few years obtains the first place for sales, followed by the United States and the United Kingdom. This undisputed domination doesn’t mean to scare you or diminish the role of other countries such as Europe, but rather it is an incentive to understand global preferences and trends, and to emerge even more on a national level.
Another hidden opportunity could be to focus on a single specific and valuable niche, such as made in Italy, which is exported and praised all over the world.
3. Vertical growth of luxury: accessories, clothing, shoes and sunglasses.
Although the global pandemic has seen an average drop of 7% in the fashion market, growth rates over the next five years reveal great earning opportunities. If we talk about fashion, however, there are several business opportunities, it is only up to you to identify the best strategy; in the last decade, little by little, the middle class has been disappearing, so the most suitable choices are mainly two:
- selling cheap merchandise to keep up with fast fashion, but that means low product quality and lots of customers necessary to achieve your dropshipping business goals
- sell famous mid-high-end fashion brands and rely on luxury brands. So you can get your earning prospects with far fewer orders and pay more attention to the selection of goods and customer care: at this point, your target will be the high-spending class.
4. Customization of the online experience.
As we have previously seen, fashion ecommerce will increasingly replace physical boutiques and, for this reason, there is a need to personalize the user experience more and more.
Leave nothing to chance, create a loyalty path, make your customer feel unique and pampered.
Many brands are heavily using artificial intelligence and machine learning to offer their customers the right products for them.
That level of customization might seem out of your league, but thankfully the principles behind it are far from complex to apply. You can start from funnels with quizzes to acquire new customers and rely on plugins that help you with email marketing, cart abandonment or user interface customization.
All these tools read and analyze data to offer you the best way to bring customers closer to you, have you ever tried any?
5. The future is made up of multi-channel social strategies.
A multi-channel marketing strategy has become a necessity: if you choose to use a single platform, don’t be surprised if you don’t see your sales grow…
You’ll need to establish a coherent experience and focus on buying digital spaces where you will find your consumers, online but not only.
Some digital marketing and ecommerce experts predict that soon the website will no longer be the main channel for generating transactions. Social media such as TikTok and Instagram will come into play and, thanks to their power, they’ll be able to direct sales to a site specifically created to make a purchase. The sales experience will be much simpler and more minimal, a new 3.0 way to shop.
6. Easy to use.
This is the type of advice you surely have heard many times, but also the most important and fundamental one to follow: put the ease of use of your online shop in the foreground.
To have a pleasant shopping experience, your customer must have all the essential information available to place an order in an informed manner, especially when it comes to buying an item of clothing without having the opportunity to try it on.
Create clear and detailed product sheets, including materials, size and exhaustive descriptions, highlight delivery methods and return methods.
This will allow you to avoid a large number of returns, which are one of the main problems for fashion ecommerce.
Shipments must always be traceable and reliable, remember that offering several different options to choose from based on your customer’s needs is synonymous with seriousness and reliability.
Returns are a major obstacle to scaling your business, but if you can guarantee your customers great service, a weakness can turn into a competitive advantage.
7. Fashion changes, but it always remains the same.
Every trend must focus on the customer, trends come and go, but people are always people, regardless of their style. Everyone wants to feel part of something, everyone wants to make a purchase easily and everyone wants to look good.
Your goal is to make money from dropshipping and scale your business, and these 7 tips will help you take the right steps to take your dropshipping fashion business to the pro level.
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Today it is easier to earn if you choose the right partner!