The clothing industry in India is very huge and is witnessing continuous growth. Many new small and medium enterprises are emerging in this sector. A successful clothing business is majorly dependent on numerous factors, including the seasonal changes, current trends in clothing, location, pricing, etc.
It surely takes time and patience to build foothold on the local marketplace and take clothing business upwards. But, a small business owner must take some steps to ascertain this positive growth of the clothing business.
Let’s take a look at 5 tips that can help you expand your clothing business.
Understand Your Customer
Do not only pay attention to the ongoing clothing trends but pay some attention to your customers as well and know what they want. Understand the needs of your customers and take a note of what they wear on a daily basis and special occasions. In case you stock the ongoing trends but they don’t match with what your customers want, you are only stocking inventory in large numbers that can’t move.
Stock Other Related Items
Observe the needs and behavior of your customers and stock other clothing related items that they might need, such as jewelry, accessories, belts, etc. By creating a full line of related items, you can encourage your customers to create the entire outfit from your shop instead of buying one single item. Also, more and more items at your shop are likely to result in customers buying more than what they wanted to buy.
Start online marketing of your clothing line apart from marketing them in the retail store! Create your website, this would help you reach people from other towns/cities rather than just limited to your town/city. You also can hold special online sales on the website to draw the attention of the customers.
Offer Sales at Unexpected Times
Do not offer sales at the fixed seasons or times of the year. In case your customers notice the pattern of your sales season, they would only come to your shop during sales. Also, make sure that your pricing strategy matches what local customers can afford.
Avail a Business Loan
One of the most common problems faced by many small clothing businesses is lack of money and cash flow. These MSMEs often find themselves in desperate need of funds to finance their operations and grow.
In such a scenario, you can avail a clothing business loan to get additional funds. However, in case your one store is working well and you want to expand your clothing business by opening a new store in another town, you can also avail a business loan for a clothing store and expand your clothing business.
If you are looking to avail a small business loan, ZipLoan offers an unsecured business loan up to INR 1-5 Lacs. You can use the business loan to increase the inventory or expand your small clothing business.