Trend Marketing – Fashion Retailers Meet Niche Marketing, Pareto, as well as the
Fashion Marketing and advertising news: A slew regarding studies, data, and articles seem to point out the growing success of niche sites, especially in the trend industry. Hype or Reality? How can big trusted online retailers and local fashion stores reap the benefits of internet niches?
I like reading about pragmatic suggestions to boost online sales regarding fashion goods, from clothes to accessories. I think that too much effort is wasted in theorizing about website marketing, and not acting regarding it.
Yet, I am going to share with you hard-core statisical studies and also hype. Why?
Because I came across in this month’s INC. magazine an article concerning niche marketing that produced me connect together plenty of issues facing local apparel stores along with big online fashion suppliers.
Make money online simply by not carrying best-sellers
Initial, the article titled “A planet without bestsellers” dabbles together with buying patterns specific to be able to internet consumers.
These patterns make-up the Long Tail. You may or may very well not know about it. To get a concise explanation, go the particular Long Tail page about Wikipedia. Let’s just say that consumers will get and buy online products a regular store could not necessarily carry. For instance, 40% regarding Amazon.com’s book sales reportedly consist in unknown titles that your regular Barnes and Noble cannot afford to carry in the bookstore next door.
The same manage to apply to fashion items. For instance, in the particular INC. article, Zappos’ A2z tony Hsieh says that:
“Today the business sells more than a few million products across 1, 000 brand names. The top 20 percent of products are the cause of half of revenue, underneath 80 percent, the spouse. “
So, at Zappos, the 20 best-selling things represent only 50% with the revenues. This is a far-cry from your usual 80/20 rule that usually applies offline, when the most notable 20 best-sellers make up 80% with the revenues. The 80/20 rule is drawn from your works of economist Pareto.
On the web sales of fashion items make Pareto Principle unnecessary
This is the gist of your February 2007 study referred to as “Goodbye Pareto Principle, Hello there Long Tail: The Effect of Search Costs around the Concentration of Product Revenue. ” It was published by researchers at the Sloan School of Management on the MIT. Better, this study is founded on “several years of sales data with a private-label women’s clothing company that offered the identical merchandise through its catalog and its particular Internet store. “
Fashion goods are really at the forefront with this trend. Think about every one of the sites of the specialty sites who have sprung up, from sites selling ceased lines of products to sites selling simply to a sub-demographic. Buyers will consider the web for hard-to-find spectacles or for styles in which regular retailers would deem too original to hold.
A company called Specialized niche Retail is specialized in doing exactly that. The company says which they actually avoid carrying best-sellers, as big retailers can usually find a way to kill the business by discounting one of the most sought-after items. By just how, Niche Retail’s logo reprents the particular Long Tail graph.
Style can be a personal matter. Fashion professionals failed to wait for the Extended Tail theory to launch niche product lines. But the internet possesses interesting further niche options:
– established brands and big trusted online retailers can find relevant niche sites for some of their product lines
– local fashion retailers are indeed niches by themselves; they can use the internet to obtain additional exposure
Big brands and retailers seeking niche consumers
This extremely site spends time introducing you new fashion sites, new fashion sites, and also new fashion communities (notice Fashion 2. 0). Because fashion will get very personal, it is definitely a good conversation matter. Now, the internet lets you become a fashion critique in the snap. Big fashion actors can follow these niche sites to have their attention.
For illustration, niche TV channels are popping up on the net, due to the lower barrier of entry, as reported in this post of the Wall Avenue Journal. The newspaper provides example of clothing sequence Express sponsoring the Honda Models web tv. I might add the example regarding “Ask a Gay Man”, the colorful and well-known fashion critique show about YouTube (see my previous note on the subject), which has gotten president William Sledd a TV handle Bravo.
But you not must be big to go after these niche sites. For instance, Ujeans, a made-to-order jeans business sponsors competitions on myspace and facebook site StyleMob (“a fresh community for street trend inspiration”).
Local trend stores are so specialized niche
I see here the opportunity for local apparel stores at the same time: a niche can become geographic.
A local store owner will be the best person to know very well what senior citizens like wearing inside the Boca Raton area. You will want to put up a internet site, where you can discuss your expertise? When local people use Google to find information regarding clothes they like, they are going to find your website, take pleasure in your expertise, and check out your shop.
Marketers are encouraging local stores to look online and advertise. A book called Marketing your shop in the internet age does a fantastic job of giving pragmatic and inexpensive suggestions to local store owners. In the mean time, Google is pushing neighborhood ads heavily. Its AdWords system lets you display your ad simply to people searching from the zip code. Moreover, Google Maps lets you mention your store inside the popular map system, in order that when people search regarding “women’s fashion, 97108”, your store appears.