By Victoria Akuba on Monday, December 12th, 2022 in Web Development. No Comments
Electronic commerce is the general term used to describe companies and people who do their business on the internet; including a fashion brands. In e-commerce, personal computers, smartphones, and other digital devices replace physical stores.
Almost all goods and services like books, music, clothes, shoes, bags, airline tickets, and financial services such as stock trading and internet banking are accessible through online transactions.
E-commerce has aided businesses, especially those with a limited audience like small businesses, in expanding their reach and establishing a substantial market presence by offering less expensive and more effective distribution channels for their goods and services.
For instance, Woora supplemented its physical showroom with an online store that allows customers to purchase everything from women’s dresses; to gowns, blouses, skirts, and even accessories from the comfort of their homes.
The internet enables fashion brands to launch e-commerce businesses or expand already successful ventures. Through websites and social media channels, companies can sell directly to consumers.
Zalu Nua, an e-commerce store, built and managed by Mactavis Digital said its best with a quote culled from independen.co.uk:
“When a piece of jewelry is displayed in a shop, surrounded by hundreds of other designs all dazzling you at the same time. It can be hard to pick out the right thing. Take that process online and you are presented with a well-chosen selection of pieces tailored to your budget and style preferences – all in a few clicks.”
Most customers see online shopping as convenient because it allows them to shop whenever and wherever they choose. However, consumers are not the only people who enjoy this convenience. The convenience of running an online business allows you to do so without any geographical boundaries.
Technology Opportunities in Fashion
A shift in the generation of consumers
The taste and fashion demands of consumers are gradually changing as the market becomes younger. More important, however, is how the new generation of consumers choose to shop for fashion.
An e-commerce store provides by far the best ROI compared to any other platform or channel for selling your pieces, and it is the channel of choice for the emerging generation of consumers.
A significant amount of shoppers prefer the convenience that comes with better technology over a lower price – this does not mean that running a discount from time to time should be ignored.
About 71% of consumers are more willing to shop with brands who have incorporated technology into the shopping experience; Websites, Web apps, and Virtual try-on tools that help them see how well a design fits without them getting out of their clothes.
These are areas to consider as it provides convenience, engage consumers, meet their shopping desires, and personalize their shopping experience.
Technology-driven cost savings
Having an e-commerce store with insightful features such as inventory management, and inventory analytics is very essential. This allows you to produce or procure only pieces that are low in stock and also evaluate the demand level per piece.
Website, Social Media or Jumia/Konga
A very common misconception among businesses is that there isn’t a need to have a website because of the prevalence of third-party marketplaces such as Jumia and Konga, and social media platforms such as Instagram or Facebook. As essential as these are for every business, they are not in any way a replacement for a website.
The benefits of having a website that is supplemented by social media and marketplaces are:
Better brand positioning
A business with a website is readily more trusted than that with just social media pages. Asides, from selling your products, your website is where your audience goes to understand the story behind your brand, the people behind it, and your muse.
You can tell stories behind the products and the collections much easier than on any other platform. This gives you more opportunities to drive brand loyalty and also to curate touch points for new customers.
Deeper insight into customer data and behavior
Email addresses, contact numbers, and other personal details are usually effortlessly collected on an e-commerce store than on social media or marketplaces like Jumia. On your website, you have several chances to gain insight into customer and their preferences. With this, trading online via a website will offer you several chances to gain knowledge about customer information.
These data are accessible through cookies, personal information from sign-in/sign-up forms, and surveys. The information may be put to different uses by your brand, including contacting customers, enhancing customer experience, retargeting customers with shoppable adverts, and making tailored product suggestions.
Reduce cost per sale
Any marketplace you sell on like Jumia will charge a percentage for the use of their platform. While building and managing your own online store might seem expensive, you realize in the long run that it reduces costs, pays for itself, and increases your profit once you drive a higher volume of sales through it.
If you can reach a customer directly through your website; you’ll be able to reduce your average cost per sale.
Simplifies scaling & inventory management
One more significant advantage of having an e-Commerce store is that it simplifies business expansion and inventory control.
Technically, all you need to launch an eCommerce store is one person and one website initially. As your sales grow, you can broaden your service line and level up your brand with low operating costs, thereby increasing your profitability.
Your customers’ eyes for you only
Social media is easily distracting, and so also are marketplaces like Jumia/Konga where your products are displayed with that of other competitors.
With your website, your customer is engrossed in a digital experience that is all about your pieces and products. All recommended and related products are yours. All comparisons are within your offerings.
What can Fashion Brands Do To Grow?
While there is no magic word that will ensure you successfully grow your brand; there are some tips that can help you navigate the e-commerce waters successfully.
Optimize Your Website
If you already have a website, you need to know that today’s consumers have high expectations for e-commerce platforms. To meet the demand, you require a stable and scalable website that can withstand traffic without crashing. Appearance and usability should be the foremost considerations.
It should be mobile-friendly since mobile devices now account for the bulk of web traffic. Regardless of the customer’s device, you want them to get what they’re looking for conveniently.
You can research the best UI/UX design practices or work with professionals like us to optimize your brand’s online presence and ensure that your website meets all standards.
Additionally, be sure that your website adheres to search engine optimization (SEO) best practices. SEO makes it easier for your brand to be found on Google and other search engines, and this in turn increases website traffic.
Ensure Repeat Sales On Your Website
Regular discounts, sales, and promos will help bring repeat customers to your website. You can do this by creating coupons, and giving them to first-time customers, or customers that purchase above a certain amount.
Ready to take the bold step towards establishing and advancing your fashion brand? Contact Mactavis Digital now to kickstart the growth of your fashion brand.