Ask any business owner, what’s the mantra they keep on chanting every day, the answer is unanimous, “I want more sales and to grow my business.” We understand that.
Growing your business means pulling in more customers, increasing sales and boosting revenues, while simultaneously expanding the reach of your business by hiring more staff, increasing inventory and opening more sales locations.
However, growing a small business doesn’t happen automatically. It’s extremely hard, and you need to work double to expand and develop your business.
This is especially true for clothing and apparel retailers. Whether you are a re-seller of branded clothing or an upscale designer who sells your own design lines, boosting your sales volumes is extremely challenging.
Here, in this post, we share with you some of the best ways to expand your clothing business comfortably, while carving a niche for your brand in the industry.
5 Smart Ways To Increase Revenue And Grow Your Clothing & Fashion Business
1. Optimize Your eCommerce Storefront
A clothing business without an online presence is missing out on key opportunities.
Start by building a fantastic eCommerce store for your business. If you already have an online website, you need to ensure that it’s updated — responsive and mobile-friendly. Irrespective of whether the majority of your customers shop online or offline, you need a solid presence on the web.
By having an updated, user-friendly website, you not only provide your customer with an additional shopping channel but also stay connected with them. Even if your customer has no plans for any immediate purchases, your website ensures that your brand stays at the top of their mind.
2. Offer Tailored Fits
Go beyond standard sizing, to appeal to all customers.
An easy way to distinguish your clothing brand from the hundreds out there is to offer tailored fits. You get your customers to input their stats — chest, waist, and hip — while placing their orders. You can then tailor the product to fit your customer perfectly. This is a great idea to pull in those customers who fall in-between standard sizes and to provide your customers with added value, without any extra cost.
3. Boost Your Cash Flow
Launching a business is easy. Making it work is the hard part.
If you are looking to expand and grow your business efficiently, you need to plug in the loopholes. Analyse and evaluate your cash flow patterns frequently. Find out where you are losing money, the bottlenecks that are holding you back and try to rectify these problems.
To streamline your business model and to meet projected profits, you can avail business loans from digital lenders like Indifi to boost your cash flow.
4. Stock up Inventory Ahead Of Festival Or Seasonal Sales
Being prepared is half the job done.
A clothing business is highly seasonal, and there are certain times of the year, where your sales increase. Diwali, Makar Sankranti, Christmas, New Years, wedding season — are some of the times when people shop for new apparel and accessories. So, make sure that you increase your inventory ahead of the busy times.
Don’t let lack of sufficient cash reserves prevent you from increasing your festival or seasonal sale inventory. Check out digital lending platforms like Indifi who offer a wide range of business loans customized for small retail store owners. Easy repayment, affordable interest rates, and quick capital — are some of the benefits of using digital lenders like Indifi.
5. Expand Your Product Line And Refine Merchandising
Continue appealing to customers with new, trendy products.
As a clothing business, it’s essential that you don’t go stale. You need to include new products to your inventory and keep up with the latest trends. For instance, if you offer formal and party wear, you can consider including hair accessories and designer clutches, to provide your customers with the complete look.
Apart from expanding your product line, you have to focus on building your brand. Refine your logo, improve product merchandising to help customers identify and connect with your brand.
Are You Ready To Expand And Grow your Clothing Business?
Don’t let lack of funds hold you back. Switch to Fintech lending platforms like Indifi and boost your working capital and take your passion to the next level. Cheers!