It is important to stay positive over these tough economic times but lack of reality and being in a state of denial is a business killer. You must roll with the punches and right now the punches will be thrown whether you want to admit it or not. 2009 was definitely a challenging and strange year for virtually any business and any brand out there. Nobody came down to immune from what happened. Some weathered the storm and some closed up shop. But let's examine why things are going to get a little tougher as we move into the new Year for young clothing brands. I'm not being negative I am just being real here. Below are some key areas to look out for and adjust so your clothing brand can grow nice brand power through 2010.
Store Discounts: Many big name brands and retailers have to literally cut their prices in half to just move product out of the store. Don't assume all brand can do this and keep growing. Some brands that focus on having their gear made in the U. S pay reduced for production so cutting prices in half and keeping your business moving is absolutely not feasible. As a brand try focusing more on promotions that get people transferring quick bursts. Offer deep discounts for certain time frames to get some new footing. Giving people feelings of desperation to purchase has been known to work wonders in the clothing industry. If you just cut your prices across the board you will cheapen the image of your brand instantly. Hugo boss You can't go from selling your golf tees at $25 bucks to all of a sudden charging $16 and think people won't notice that drop.
Vendor Discounts: Have you noticed that you might have a bit more bargaining power with some of your vendors? well that is good and all but that only means that people who once didn't have any cash to start their line all of a sudden have time to put their dreams into full swing. Probably some really good young entrepreneurs out there with some outstanding brand ideas that just couldn't pull the trigger because costs where to high in the past. This is going to saturate the market even more than it already is. There are only so many brands you can push towards a similar audience and half the brands out there target the same people. Beware of new competition really sneaking up on you and getting into the game of starting a clothing brand. Keep your eyes open.
Internet: The internet is a fierce communication tool, no doubt about it. More and more businesses are start to really learn how to leverage search results and online marketing to increase their clothing brands image. This means billions of web pages being added to the search engines making it difficult to push through the online clutter to get your website really noticed. Launching a Twitter and Facebook page should be second nature at this point. What is your next step online that will allow your brand to very much be prominent and shine?
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