Anyone considering investing in fashion industries that isn’t prehistoric in their thinking knows that giving the customers open and easy online purchasing capability is essential. However you may not know that customization is fast and away becoming a top priority for online consumers of clothing, jewelry, and even fragrance.
Sound investments made in fashion survive on understanding that while the products have a propensity to be always changing, certain things like reliable customer service and product satisfaction are a required standard. In a world where nearly every desired article of clothing or accessory can be purchased online, granting the customer the ability to fine tune their purchase is guaranteeing your investment makes you money into the next decade of online fashion commerce. Nothing separates the online shopping experience from the real world one like the ability to interactively customize what you purchase.
Speaking the Truth
This is the absolute truth when it comes to the fashion industry. The real world ability to try clothing and accessories on for size and fit is still the number one inhibitor of further online fashion expanse. But it’s the inability for clothing, jewelry, and shoe stores to provide on-site customization of their products that gives online options the other hand. Granted, the top names in fashion manufacturing have hedged their bets on both options, but since you’re likely not about to put your start-up capital into Nike, you need to focus on a company that has an alluring online presence. It should not only possess an enticing interface, it should stand out from the competition. This can be best achieved by providing customers with as much customization power as possible.
Consider online jewelers.
Many if not all dedicate their websites almost entirely to either displaying the customizable products or raving about how simple a process it is. Initial necklaces can be altered to almost any precious metal of your choosing; rings can have a vast array of inlay possibilities from precious metals to bright gems. The ability to allow the customer to vividly see their potential purchase change to their choosing not only encourages them to buy something they’ve made themselves, the simple enjoyment of mix and matching designs is so much fun they’re guaranteed to return or send a friend. This is harder to say for the average experience with a local jeweler. It’s a hassle followed by a haggle, and there’s not much fun worth recommending to someone else. This could account for why nearly 1,000 American jewelry stores have closed down yearly in recent times.
Personally the single biggest benefit of making investments in online retail regardless if it’s fashion or technology or otherwise is the ability to market the lack of a state sales tax to the majority of your customers, as long as your business isn’t headquartered in a heavily-populated state.
When you’re talking about purchasing a pair of patent leather shoes or a necklace crafted from the most precious of metals and stones, the state tax can add up on such an expensive buy. If your investment is in a business that caters to the customizing concerns of their clientele, you probably want to make sure they not only do their best to keep the business costs low, but do what they can to make the product cheaper without passing that loss back onto you.
Fashion is a volatile industry and may seem too risky but there are a few indicators you can look for in your potential investments that signal long term survivability. Make sure the online business is booming, but make certain that customization is a top priority. It certainly is for the customers.
This is a guest post for Miriad Jonhnston, freelance writer and enthusiastic traveler.
Get the Money Dominating Toolkit
- 6 Tools to Get Your Money Back on Track
- The Ultimate Goal Achiever Workbook
- 2 Free Chapters to my Best Selling Book
- 21 Days to Destroy Your Bad Habits Worksheet