Yes, it is one of the best times to launch a retail or wholesale private label clothing business. However, just because it’s easier to “launch” doesn’t mean it is easier to “grow”. There exists an array of challenges on the way to capture the market space with an adequate stream of revenue. This is why so many startups fail in keeping up with their goals. The good thing now is that you don’t have to be one of them. There’s this simple tactic that you can use to scale your private label business to newer heights.
One of the biggest mistakes business owners can make today is trying to be everything for everyone. With competition so high across industries, having a broad approach is a simple recipe to failure. To that, let’s not forget that it’s also quite expensive. And it’s something not many startups can afford.
This is why targeting micro-segments is one of the best strategies, at least in the clothing market. It’s a narrowed approach that brings more focus on your outreach efforts, making it easier to achieve your goals. To that, it also promises less competition, which can pave you enough space to dominate your sub-niche.
For instance, instead of targeting women, go deep into that broad segment to find what kind of women… their age, profession, demography, income, and so forth. Instead of focusing on “grown-ups”, narrow that down to, say, grown-ups who are in their early 30s, working in corporate, having $50,000 annual income. In short, go very micro in who target– to a point where you very clearly know who’s your customer and who’s not.
If you’re targeting the kids, work along with the right kids clothing manufacturers USA based who offers wide customization option.
Thankfully, it’s not difficult to target micro-segments now. You can easily leverage Facebook ads for this. Not only does it offers many features to get in front of very targeted segments, but it’s also highly under-priced. At a very low CPM, you can reach out to many targeted people in your segments. This is the quickest way to do this. And if your campaign is effective, you can generate big sales this way.
So, in short, if you’re launching retail or wholesale clothing private label business, to grow, focus on micro-segments.