2014 Trends For The Retail Fashion Industry

With the new year upon us, retail fashion store owners across the country are preparing and strategizing for the 12 months ahead. In the world of retail fashion, trends play a pivotal role in the success of a business. Stores offering 'hot' garments that are popular and in high demand will ultimately trump stores offering dated, low-demand garments. This goes back to the basic economic principles of supply and demand. So, what are some retail fashion trends to look for in 2014?

Niche Stores

If you live in a highly populated city or suburban area, you're probably well aware of the growing number of niche apparel stores opening up. There are still plenty of national chain retailers which offer all types of apparel, but small businesses tend to have greater success when operating niche stores focused around a specific type or category of apparel. 

For instance, female teen clothing stores have become a popular niche, as they target a specific demographic. If a young girl wants to purchase an outfit, which store do you think she would choose: a general apparel store or one that specifically sells female teen apparel?

You read more about how to choose a niche for your retail apparel store in our previous blog post located here.

Go Mobile

If you aren't incorporating mobile into your retail apparel store's overall marketing strategy, you're missing out on a massive amount of untapped potential. According to a recent State of The Internet Webinar, mobile web traffic will trump desktop traffic in 2014. This means store owners with a web presence must cater to the unique needs of smartphone and mobile users; otherwise, all of this traffic will end up going to their competitors.

Even if you don't operate an e-commerce website for your retail apparel store business, you can still utilize mobile into your marketing strategy. Quick read (QR) codes have become a hot trend that's growing in the world of retail. These square-shaped bar codes allow businesses to market their products and services to mobile users. Users scan the QR codes with their smartphone or device to access to a webpage. This webpage may contain promotional codes, discounts, coupons, new products, or practically anything else the store owners chooses to display.

Fashion on a Budget

There's a growing consumer demand for inexpensive fashion garments as opposed to luxury, high-dollar items. Don't get me wrong, consumers are still buying the $1,000+ handbags, but not nearly as much as the lower-dollar items. If you operate a retail fashion store, consider offering more of the budget-friendly garments and accessories to your clients.

Equipment Checklist For Starting a Retail Apparel Store

Thinking of starting your own retail apparel store? If so, you'll need to purchase the right equipment to store and display product. Apparel stores are unique in the sense that they require specific fixtures, such as mannequins, which aren't found in other stores. Overlooking this critical step could send your business tumbling downwards long before it even opens. For a checklist of essential fixtures and equipment necessary to start a retail apparel store, keep reading.

Rolling Racks

Arguably, the single most important type of equipment for starting a retail apparel store are rolling racks. As the name suggests, these are mobile racks with wheels that can be moved around the store as you see fit. Rolling racks are incredibly versatile, allowing apparel store owners to display shirts, jeans, pants, dresses and practically any other garment that works with a traditional hanger.

So, how many rolling racks do you need for your retail apparel store business? There's really no easy answer to this question, as it depends on the size of your store, type of apparel you offer, store layout, and your professional goals. With that said, I recommend new apparel store owners create a detailed floor plan to determine exactly how much space they have available. Look at your store's blueprints and choose a location for all of your store fixtures.

Mannequins

Of course, mannequins are another essential piece of equipment for retail apparel stores. You can hang garments on rolling racks all day long, but nothing compares to the realistic figure and frame of a mannequin. Customers can see how a particular garment looks on the human form thanks to the use of a mannequin, which naturally encourages a greater amount of sales.

The only real downside to using mannequins is their space requirements. A single full-sized mannequin will take several feet of valuable real estate in your store.  And using too many will limit the available space for rolling racks and other key fixtures, so try not to go overboard with your store's mannequins. Strategically placing a couple in your window display and scattered throughout your store should suffice.

Other Equipment Necessary To Start a Retail Apparel Store:

• Track lighting (particularly helpful when used in conjunction with mannequins).
• Slatwall or gridwall.
• Garment bags.
• Cash registers.
• Security tags for high-dollar garments and accessories.
• Hangers (you'll need plenty of these).
• Body forms
• Signs

Protecting Retail Apparel With Garment Bags

If you own or manage a retail apparel store, you should consider investing in some garment bags. These versatile accessories will offer a valuable layer of protection against dust, dirt and other common forms of damage. Unfortunately, far too many apparel stores overlook the importance of garment bags. This ultimately leads to damaged product and higher shrink, both of which are disastrous for a retail businesses. To learn more about why you invest in garment bags, keep reading.

Protects Garments From Dust

Regardless of how much time you spend cleaning your store, dust will inevitably accumulate in certain areas. This may not seem like an issue, but even small amounts of dust can ruin certain materials. Dust is especially problematic in storage and shipment areas. So, how can you protect your garments, and profits, from the damaging effects of dust. The answer is simple -- store them in a garment bags. Instead of hanging your garments on a rolling rack and leaving them in the back of the store, you can secure them in a protective garment bag. The peace of mind knowing that your store's apparel is safe is well worth the minimal price of garment bags.

Convenient Hanger Area

Most garment bags are constructed with convenient hanger slots on top. After placing the shirt, dress or garment on a hanger, you can then zip the bag up around it. Store owners can then hang the garment bag on rolling racks or similar devices thanks to the convenient hanging area. There's no need to lay the garments down once they are placed inside a bag. Of course, this is just one of the many benefits offered by garment bags.

Prevents Wrinkles

Yet another benefit of garment bags is their ability to prevent wrinkles. Let's face it, customers are naturally less likely to purchase wrinkled garments; therefore, it's in your best interest to store them in a manner that reduces the chances of this from happening. Taking the time to place your garments in a bag will keep the straight and wrinkle-free.

Logo/Card Slot

Depending on the particular model, some garment bags are designed with built-in slots for holding logos or cards. This allows store owners to personalize their garment bags using their own promotional material. You simply slide your card or logo design directly behind the soft plastic cover where it will remain visible for everyone to see.

Identifying Retail Fashion Trends

If you own or manage a retail apparel store, it's important to closely monitor and follow current fashion trends. Doing so will allow you to choose hot-selling product for your store, essentially increasing your sales and profits. Overlooking this critical aspect could bring your retail apparel business into a downward spiral. But just how are you supposed to find trends in the world of fashion?

Fashion Shows

There are numerous ways to identify trends in the fashion industry, one of which is to attend fashion shows. Some of the country's biggest fashion shows occur in New York City and Los Angeles. As a retail apparel store owner, you should attend some of these shows to help identify current and even future trends. In addition to seeing new fashion styles and trends, you'll also have the opportunity to network with other like-minded individuals. This alone makes the trip worth your time and money. Besides, taking trips to fashion shows is a fun experience that will give you a break from the normal work week.

Fashion Magazines

In addition to attending shows, you should also check out some of the fashion magazines to identify trends. There are literally dozens of wonderful magazines out there which showcase new fashion trends and styles. Subscribing to just a few of them could prove to be well worth it in the long run. You'll be able to see what styles are coming in and which ones are going out.

Observe Shoppers

As a retail apparel store owner, you can observe shoppers to see what style they typically wear. This is arguably the single easiest and most effective way to gauge trends in the world of fashion. Keep a close eye on your store's customers to determine their preferred style and any changing trends.

Now that you know how to identify fashion trends, you might be wondering what to do with this information. Well, ideally you should use it to modify your store's inventory. If there's a newly emerging apparel style, then perhaps you could offer it in your store. On the other hand, if there's a style that seems to be declining, then you might want to consider getting rid of it. You can place it on a clearance rack or offer similar sales and discounts to help move it faster. The key thing to remember is that you want your store to reflect the current trends in the world of fashion.

3 Reasons Why Your Retail Fashion Store Isn't Profitable

Running a retail fashion boutique is a fun and highly rewarding experience that gives you the opportunity to express your creative side through fashion. If you the type of individual who's always on the lookout for the next trend in fashion, then you should consider this line of work. People are always in need of new clothes, so this is somewhat of a recession-proof industry. Unfortunately, though, many newcomers to the retail fashion world take the wrong approach towards their business, resulting in little-to-no profit. In order to run a successful fashion store, you must work on earning more money than you spend; otherwise, you'll continue to remain in the red without a truly sustainable business model.

Reason #1 - Poor Location

Is your retail fashion store tucked away in some dark alley that's hard to find? Sure, you might save a couple bucks on your lease by opening a store here, but it will also make it increasingly difficult for customers to find. The bottom line is that your retail fashion store needs to be located in a prime shopping area that's easy to see and access from a major road. If people can see your store from the road, you can take advantage of this by using a large and prominent sign to help attract them. For the price, leasing a store that's close to a major road or highway is well worth the investment in the long run.

Reason #2 - Pricing Too Low/High

Unless your store's garments are prices just right, you probably won't turn a profit. Pricing your garments too low will likely result in you not making any profit off the transaction. On the other hand, pricing your store's garments too high will discourage customers from buying. So, how do you know what to price the products in your store? Unfortunately, there's really no easy answer to this question, as it will depend on a variety of different factors. The single most important factor, however, is to price them high enough so you are making a profit on each transaction; otherwise, it's not worth your time and energy to sell the item.

Reason #3 - Not Creating an "Edge"

The secret to running a successful and profitable retail fashion store is to give yourself an edge. By this I mean something that makes your store stand out from the competing fashion stores around your area. Let's face it, you probably aren't the only store in town that sells garments and/or accessories. Therefore, you must set yourself apart by having a unique edge. Perhaps you can decorate your store in trendy modern designs, or you can give your store a uniquely brandable name that's easy to remember. These are just a couple of the many ways to create an edge for your retail fashion store.

Preventing Theft In a Retail Fashion Boutique

Theft is a growing problem in the retail fashion industry that doesn't seem to be going anyway anytime soon. Each year, boutique owners lose millions of dollars in profits due to theft. In fact, the problem is so bad that it forces some boutique store owners to shut down their business. While there's no way to completely prevent all forms of theft, there are some precautions owners can take to reduce it. To learn more about preventing and reducing theft in a retail fashion boutique, keep reading.

You might be surprised to learn that over half of all retail theft comes from employees. It's not something owners want to think about, but the issue needs to be addressed if you intend on lowering theft. First and foremost, you should only hire reputable employees who are trustworthy. Hiring employees with criminal records isn't the best idea. Instead, consider the background, previous work experience and other accomplishments of job applicants.

Also, don't be afraid to set up a security camera in the back room of your fashion boutique. Doing so will allow you to keep eyes on your employees when they are alone with garments and accessories in the back. Just the sight of a security camera alone is enough to deter a number of employees from stealing. Instead of hiding the camera behind, keep it out in plain sight for your employees to see. Hopefully, this will make them think twice before stashing a garment or accessory in their purse or backpack.

Using a locked cage to store your garment and accessory shipments is recommended. Some boutique owners simply leave their products out in the back with nothing to guard or protect them. This is a nightmare waiting to happen, as the product is highly vulnerable to theft. A better choice is to store it in a locked cage where no one other than you, or anyone else with a key, can access it.

If you haven't done so already, you should invest in anti-theft devices for your garments. These are small devices (usually made of plastic) that are attached to the garment. The only way to remove them is with a special tool. As a result, most thieves try to avoid stealing garments or other products with anti-theft devices.

There are dozens of different types of anti-theft devices available for sale. The most basic type is a small plastic piece that attaches to the garment. Some of the more advanced ones, however, may contain ink, dyes, alarm triggers and even GPS locators. Generally speaking, the more advanced anti-theft device you intend on using, the more it's going to cost.

Keeping Your Fashion Boutique Updated With The Seasons

Do you own or are thinking about owning a retail fashion boutique? It can certainly be a fun and financially rewarding business venture when done correctly. You'll be able to work for yourself doing something that you hopefully enjoy doing. If you are a fashion-minded type of individual, then you'll naturally love the retail boutique industry. With that said, it's important to remember that your boutique store needs to be updated according to the seasons. This is an all-too-common problem that results in the failure of many new fashion boutiques. Here we'll take a closer look at the importance of updating your store according to the seasons and how you accomplish this.

Garment Functionality

Have you ever walked into a clothing store or fashion boutique only to ask yourself why they would still be selling certain garments? Personally, I don't know how many times this has happened to me. When the temperatures begin to drop, stores will still be selling the same shorts, tank tops and t-shirts. Naturally, not many people are going to purchase light clothing such as this once the cold temperatures approach; therefore, the store owner is essentially losing money by wasting valuable product display real estate.

Of course, the same principle holds true for sweaters, jackets and other thick garments during the spring and summer months. If your boutique store still has the same warm-weather clothing out on display once the temperatures rise, you probably aren't going to make many sales.

Taking Into Account The Seasons

While it might be easier to leave the same garments and accessories on display for months on end, a more effective technique is to change the garments in your boutique store based on the seasons. Think about what the current season is, how long it will last, and what the forecast is like for the upcoming season. I know this might sound like common sense to some people, but you would be surprised at how many boutique stores overlook this simple concept. As the seasons change, you need to update the garments in your store.

There's nothing wrong with selling out-of-season garments, but you can't expect them to fetch the same price as they would in season. If you simply want to get rid of extra inventory, mark it down to clearance and then place it up for sale. Customers will likely take advantage of the low prices even if the garments aren't in season.

Common Pitfalls of Running a Fashion Boutique

Many people enter the world of retail fashion simply for the money it offers. When it's done right, running a fashion boutique can certainly be financially rewarding venture that opens up a whole new world of business options. The truth, however, is that the majority of people fail in this industry. You have to remember that retail fashion is a cutthroat industry that's not for the faint of heart. Unless you give it 110%, you simply aren't going to come out successfully. Here we'll take a closer look at some of the most common pitfalls of running a fashion boutique and how you can avoid them.

Pitfall #1 - Not Creating Strong Customer Relationship

When customers walk in the door, take a minute to greet them with a friendly "hello." Far too many retail fashion boutique owners overlook the importance of having friendly customer service, which ultimately results in loss of sale. Customers want to spend their money in stores that are friendly and helpful and not in stores that ignore them. Whether your boutique store sells men's, women's, infant's or teen clothing, you should focus some of your efforts on improving your customer relationships.

Pitfall #2 - Not Having an Online Presence

In today's internet-driven world, there's simply no excuse why a fashion boutique shouldn't have a website. Even if you don't plan on selling your garments or accessories online, you can still provide basic information to potentially customers, such as your address, hours of operation, printable coupons, etc. Having an online presence for your fashion boutique instills a certain level of trust in your company's brand. Contrary to what some people may believe, launching a website doesn't have to cost an arm and a leg. With just a couple hundred dollars, you can have a fully functional website up and running for your fashion boutique.

Of course, you can also go one step further by launching social media networking accounts for your retail fashion boutique. Places like Facebook, Twitter, Google Plus and Pinterest can prove to be more valuable than an actual website. Make sure you are taking full advantage of social media networking.

Pitfall #3 - Bad Hours

If you want people to come into your store to purchase garments, you have to be remain open at least most of the week. I don't know how many times I've gone to purchase clothes, or other products for that matter, only to find out the store was closed for no specific reason at all. There's nothing wrong with closing early on Sundays, but try to avoid closing down your store for entire days.

Important Accessories For Opening a Retail Fashion Stores

Lets face it, opening a retail fashion store requires a different approach than traditional stores. Since your main focus is clothing and apparel, it's important to place an emphasis on displaying these items. Unfortunately, far too many store owners take the wrong approach when opening a fashion store. As a result, they leave a large portion of their revenue untapped. The bottom line is that you need to ensure there are certain accessories used in your retail store for maximum effectiveness. Keep reading for a closer look at some of the essential retail fashion store accessories.

Clothes Hangers

I know this probably sounds like common sense to some people, but you would be surprised at how many store owners overlook or simply underestimate the importance of clothes hangers. Unless you place on folding each and every garment for display on a shelf, you'll need hangers to keep them on display. Not only is this a better way to show them to your customers, but it's also helpful for reducing the amount of wrinkles the clothes receive.

So, how many clothes hangers do you need? Don't make the mistake of purchasing just enough hangers for the amount of clothes you have, but instead go over this amount for a security blanket. I recommend having at least twice the amount of hangers as you have clothes. Clothes hangers are a relatively inexpensive accessory that isn't going to burn a hole in your budget, so go ahead and buy extras just in case.

Mannequins

Another accessory that every retail fashion store owner should invest in are mannequins. You can hang your garments up in a dozen different places in your store, but nothing compares to using a mannequin. This simple accessory allows you to show your customers exactly how a garment fits on the human body; therefore, they will be more inclined to purchase it because of the reinforced feeling it offers.

If you own a retail fashion store, pick up several different mannequins to use in various locations. Some owners only place them at the front of their store, but this really limits its overall effectiveness. Instead, set them up in various locations at all different departments in your store. This will allow your customers to constantly see the mannequins while shopping in your store. Also, remember to keep them updated with fresh garments for maximum effectiveness. After customers have viewed garments on your store's mannequins, they may grow immune to its effect. Thankfully, though, switching the mannequins' outfit with new garments will create a fresh new look that's sure to grab their attention.

3 Reasons Why You Should Use Mannequins In Your Fashion Store

Running a retail fashion store is no easy task. You'll be competing neck-and-neck against others who've already established themselves as a leader in this fast-paced industry. For people and businesses just starting out, this can be frightening and even overwhelming scenario. The good news, however, is that using mannequins in your retail store can help you can the upper-hand. Here we'll take a look at the top 3 reasons why you should use mannequins in your retail fashion store. So, if you are on the fence about using them, just check out some of the reasons listed below.

Reason #1 - Improve Window Display

When it comes to retail fashion stores, window displays are a critical piece of real estate that must be used correctly. People walking by your store without the intent to come in and shop may see your window display and be drawn in; thus, leading to greater sales and more profits. Unfortunately, this is an area that's frequently overlooked by newcomers to the industry. They assume that window displays are just another piece of their store, so they don't create any true sense of direction with it. Instead of setting your window display up just like any other area of your store, you should use a mannequin to create a lifelike appearance that people can actually relate and connect to.

Reason #2 - Change With The Seasons

Now that we're well into the spring season, retail fashion store owners everywhere are looking to update their inventory with more appropriate clothing. As the old saying goes "out with the old and in with the new" holds true for the world of retail fashion. If you have mannequins in your store, you can use them to show off your new spring apparel. While there's nothing wrong with using rolling racks and grid wall for storing apparel, it doesn't offer the same level of appeal that a mannequin does.

Reason #3 - Show Off Accessories

Let's face it, there's no better way to show off accessories than by using a mannequin. People want to see what accessories look like when worn, and a mannequin allows them to do so. Instead of placing fashion accessories like handbags, necklaces and other jewelry on the shelves or counters, perhaps you can use them on a mannequin. Chances are you'll immediately get more questions and comments about the accessories simply by placing them on the mannequins in your retail fashion store.

Avoid These Common Retail Fashion Store Mistakes

Starting a retail boutique fashion store is no easy task to say the least. If you plan on maintaining a successful and profitable business model, you must battle your way through the big-name competitors that have already cemented their stance in the market. For small boutique stores, this can seem like a daunting task with a never-ending uphill battle. Here we'll take a look at some of the most common mistakes made in the world of retail fashion and why you should avoid them.

Mistake #1 - Poor Window Display

Let's face, small fashion stores need to work ten times harder just to bring customers through the doors. Since the store probably isn't a household name like the big-name stores in the business, they must use alternate means to drive customers in. It's an all-too-common mistake to setup the window display poorly or without any real sense of direction, which ultimately results in fewer customers. The bottom line is that you should take the time to create an attractive, functional window display that tells a story. Don't just throw up some of your best-selling items, but instead use eye-catching colors and bold outfits to really draw attention to your store. This will spark the curiosity of nearby pedestrians and shoppers, and hopefully bring them into your store.

Mistake #2 - Not Keeping Up With The Seasons

As the seasons change, your store's inventory needs to change as well. People use the seasons throughout the year as a time to update their wardrobe with different colors and styles. While a plain-colored sweater and jeans may work well for the winter months, it's probably not the best choice for the spring months. Spring is a time when new colors blanket the landscape through blooming plants and flowers; therefore, wardrobe and outfits should mimic these changes. Keep your store's inventory up to date with the ever-changing seasons so it will remain relevant to customers' interests.

Mistake #3 - No Special Sales or Promotions

Sometimes all it takes to drive more revenue for your small fashion boutique is to offer customers special sales and promotions. Customers want to feel like they are getting a good deal on their purchase, and promotions are the perfect way to accomplish this. You can collect customers' email addresses during their checkout and send them 10-20% coupons. After receiving these coupons, customers will hopefully return and spend even more money at your store. It's a win-win situation that helps both your store and the customers.