Creating A Strong Brand Positioning In The Fashion Market
Apr 01, 2021 | Konark Ogra
Fig:1 Brand position gaps and opportunities
During these times it is important to know your matrices, and, draw a baseline for exploring new ways of gauging success.
Table 1: Key matrixes for the fashion e commence brands
Benchmarking against competitors can help small fashion brands optimize strategies that can help brands in setting their prices and learning about trends.
Table 2: A comparison of various products categories for big-box players (Source: Omnilytics)
Smaller brands can focus on handmade techniques and work in close partnership with the community-based manufacturers to build a sustainable, cost-effective, design-oriented, and value-driven product.
To create these value-driven products, Key techniques for embellishment are embroidery, Applique, Embroidery, done either by or hand, Quilting, Patchwork, Trim (sewing), Lace, etc.
Key takeaways:
New brands could make better use of changing consumer behaviour optimize inventory management, use tech solutions, and create a strong brand positioning backed with market insights, new supply chain relationships and perform low-cost experiments to be more visible to the audience.
Secondly, It's challenging to compete in the basics category with the big box players and therefore focus on gaps, especially in the medium to a high-end category, and build your storytelling capability for creating a commercially successful brand.
As consumers continue to look for quality, value, and brands that care about sustainability, small businesses need to make sure that they meet these dynamic needs.