The fashion industry is one of the biggest industries in the world. With hundreds of thousands of creatives churning out various types of clothes and fashion accessories, it is easy to conclude that the fashion world is indeed a bed of roses. However, there is far more to the fashion industry that designing and printing clothes.
Most merchandisers like Shield Republic understand that various stages have to be passed through before the final product is made available in the market. Merchandise owners have to deal with several mid-points from manufacturers to retail stores and everything in between to ensure that their products indeed meet their quality standards. Even after such clothes have been delivered to the retail stores, there are a lot of other actions that are required to push the clothes from the retail store to the final consumer, a paying customer.
When planning on entering the fashion business, there is a need for you to learn as much information as possible about the industry as this will form the basis of the decision to invest in the industry or not. Learning about the intricate details of the industry can also save you from some of the common mistakes made by past businesses.
Interested in the Fashion Industry, Below are Some of the Things You Need to Know.
1. A passion for fashion and business is required to make headway in the fashion industry.
Diving headfirst into the fashion industry has caused many to crash out shortly after due to the lack of proper orientation and what it takes to survive. In the fashion world, success is a product of the marriage of both the fashion side and the business of things. A fashion brand that is lacking in the fashion aspect will thrive no better than one that is lacking in the management and business aspect.
If as a person, you can successfully merge both areas, business management, and creative fashion sense, then the merchandising world may be just the right place for you to be in.
However, fashion merchandising requires that you make sure that the right fashion goods and accessories are available to customers at the right time, for the right price, in the right amount and at the right fashion store or place. Getting the process right is an ingredient that will boost your business success.
Similar to any other business, fashion merchandising requires you to make the right decisions based on predictions that have been drawn from the market and consumer behavior. To draw predictions, you also need to understand the fashion market and be able to respond to the specific needs of consumers.
2. You are more valuable to retailers and manufacturers when you’re an expert at what you do.
While fashion merchandising is not only about predicting the market, it also entails working with manufacturers and designers to ensure that you get the perfect items that will speak to consumers and meet their current fashion needs.
Having a perfect understanding of the fashion world and current trends in the market can help you make better decisions both at the manufacturing and retail level. At the manufacturing level, you want to make sure that you are working with popular designs, the trending clothing colors, have a good estimate of the production quantities in demand and also determine the best possible price for the market. In some cases, you may need to hire professionals to streamline the process. Hiring a fashion designer to work directly with the manufacturer can also significantly improve decision making as professionals can find a better way to make designs more desirable yet affordable. Also, they can lend professional input in areas of fabric selection, promotions, and production methods.
On the retail side, it’s more about understanding the market and being able to forecast based on the current market trends, target demography, and other important indices. In addition, a perfect understanding of the market will help you better identify how certain things like pop culture, weather, and other influencing factors affect sales, how to make your brand more desirable and others.
Good data on the retail side can also significantly affect the manufacturing size, helping you to make better decisions when it comes to colors, sizes, designs, styles and other factors that contribute to your brand image.
3. Understand the Various job roles in Fashion Merchandising
In fashion merchandising, various job roles come together to make a successful business. The entire process of fashion merchandising doesn’t only involve the manufacturers and retailers, other important roles that can further boost the business include retail buyers, account managers, store managers, merchandise consultants, marketing specialists, visual merchandisers, and others.
Getting started in the fashion merchandising world can be fun. Check out some of the amazing designs offered by Shield Republic to get started.