Learning about consumer buying behavior will help you understand why consumers make the decisions they do and how this will impact your business’s success in the future. For example, 70% of all purchasing decisions are made at the point of sale and 90% of purchase decisions are made within three feet of the item in question. here are five fashion-related facts that are crucial to your success.
Companies focused on fashion need to identify strategies for dealing with constant changes in consumer behavior. Tastes and demand of consumers change so rapidly and significantly impact the fashion industry. Considering ways to adapt to the aspect of fashion will drive market growth via current products that are on the market.
When it comes to fashion, most of us aspire to have the same trends and social status as our favorite celebrities. Want to increase your company’s profits? Putting products on display that your customers see on their favorite stars or models might do the trick. It’ll not only increase sales and make the consumers confident, but will lead to them posting photos of themselves on social media platforms. The result could be viral exposure for your brand.
In addition, make sure that your products are compatible with both young people and old-timers. This will make it easier for them to purchase your products and spread word about them.
In order to remain profitable in today’s world, retailers must be able to anticipate their customers’ wants, needs and desires before they do. While this may sound like a challenge, there are a few things you can do right now to understand how your customer buys fashion trends. Know for example, what drives your customer’s decision. What criteria does he/she use to determine what’s fashionable or not? When does he/she decide what clothes are in style? How much does he/she pay for following trends or purchasing new clothes?
2) Bargain Hunters
Great news, bargain hunters! I hope that, despite your reduced spending budget, you are able to find the same fashionable merchandise at diffrent brands as those who are less cash-strapped. In addition to traditional coupons, we do regular promotions. So if you want something and don’t want to spend too much money, signing up for our newsletter might be a good idea. If you’re after a limited edition item that we only offer on rare occasions, check to see if it’s online or in the store. these may be gone before you know it, but when you do find them, they can provide some unique opportunities for a good deal. For instance, if you’re not in the market for a quick buy, be sure to keep an eye on what we have to offer for the next time you are out looking for clothes. You never know when you’ll get lucky.
It is crucial to point out that when you do find a product on one of our store shelves, be sure to ask about our price matching policy. Unless there is already a sale price set on the product, most of us will match another store’s sale price with ours. This applies doubly for any sort of promo code because many times one of those codes can cover shipping costs entirely. Regarding shipping costs, make sure to take advantage of free shipping offers whenever possible. No matter how big or small your order is, sometimes we do not require a minimum order for free delivery.
3) Celebrities & Influencers
As is the case in other industries, the rise of social media has led to a change in the fashion industry, with traditional advertising and word-of-mouth becoming less prevalent. Brands are instead now turning to social media platforms as the best way to reach their customers. Interesting about Superdry is their readiness for what’s called influencer marketing. In other words, they partner with high-profile celebrities on social media who are already popular, and create personalized deals for them and their fans when it comes to new Superdry products. When using the hashtags #sponsored or #paid on their Instagram posts, social media influencers hope that traffic from the outside world will migrate back to their other social channels where many customers from all over the world might find them. And if you happen to be a fan of a social media influencer, you can even buy products through your favorite star’s website. Brands actually employ people whose job is to maintain these connections! Fashion companies and brands in other industries use this tactic too, such as restaurants, technology companies, and more.
4) The Best Quality Group
Today, companies are more concerned about brand image than ever before. In fact, 85% of shoppers say that how a company manages its corporate social responsibility (CSR) and environmental impact will influence their buying decisions. Therefore, CSR programs are important for brands because they are vital for branding. The programs are often expensive and time-consuming, but worth it for the importance it has on how the brand is perceived.
Companies who have a good reputation can gain multiple benefits from this, such as boosting their sales and creating a higher profit. One of their major advantages is that customers are more willing to pay more for high-quality products and services. Consumers will appreciate a company’s efforts when they feel that company is socially responsible and is looking out for their wellbeing. They might even be willing to pay extra money for a product because they believe in its quality or how it was made. This can translate into higher sales for companies who are involved with CSR programs.
5) Always-Reliable Cores
Even if an item goes out of style, a core item is usually a safe choice. For example, the core Superdry garment is a sweatshirt. Even though different fashion and print styles may come and go, consumers can always count on Superdry for a basic sweater made with high-quality materials that will always look good regardless of what is popular that season. That keeps customers coming back, even when trends change. For any company looking to build their brand in 2022 and beyond, it’s important that they offer a single product that follows fashion trends. One of the best ways to do that is by identifying your staple elements. These could be your standout product, a specific design, or a trademark element like your logo or slogan. In summary, find something you know people are going to want each year and stay close to it.