How to Start Your Own Streetwear Business?
- Issue Time
You can tap into the potential profits of street fashion clothing by starting your own e-commerce business. From market research to analysis, here's how to start your own streetwear collection.
Profits from the streetwear line are surging by an estimated $185 billion in sales. Estimates suggest that streetwear accounts for 10% of the entire global apparel and footwear market. You can tap into the potential profits of street fashion clothing by starting your own e-commerce business. From market research to analysis, here's how to start your own streetwear collection.
Learn About Street Style
The street style took off in the 1990s and is now mainstream. The definition of streetwear has evolved over the years, but at its core is casual clothing that embodies elements of sportswear, skateboarding, hip-hop, and some punk.
Before you launch your own brand, it's wise to evaluate the styles you want to sell. You may find that your thoughts on streetwear are more high-end than your competitors. Or you might realize that your style leans more towards sportswear than punk and is missing some gritty streetwear. There's nothing wrong with distinguishing and serving niches, but you also need to make sure to represent your target market and ideal audience.
Expand Your Competition
Determining the scope of your competitors can give you insight into the streetwear industry, but it can also help you identify market gaps. Ask yourself what they do well and how you can create a better product and customer experience. Take note of the clothing they sell, the way they market it, the photos, and how user-friendly the site is.
Spending time on competitors’ social media channels can also provide insight into what their customers are doing. Research which posts and photos their audience reacts to the most, and what they are saying. In addition to social media, you can also do some research to find online reviews. Review customer testimonials, both good and bad, and jot down how you can improve the customer experience.
Research Your Target Market
If you're already selling clothing and other items in your e-commerce store, you're on the leading edge. Send email newsletters, and surveys or post feedback on your social media channels. Find out what type of streetwear they want, their favorite brands, and their favorite designs or customizations. The more details you gather, the easier the startup process will be.
Even if you don't have an established audience, you can still research your target market to gather more information for your streetwear collection. Checking out Reddit or Facebook groups are some places to start.
Keep Overhead Low
Starting or expanding a business takes time and money, and neither is usually much. Research shows that 66% of small businesses are dealing with financial challenges and 43% cite operating expenses as their most important expense.
There are always free and inexpensive ways to start and run a business. Print on Demand (POD) helps create high profit margins from quality products. Our production and fulfillment services are also reliable and fast to scale your e-commerce business. Best of all, you don't pay any upfront fees and earn money when your product sells. No inventory to store or add fees.
Know Your Printing Options
It is critical to understand your printing options and how they affect the quality of your designs and products. Otherwise, you may end up with a poorly designed product and high returns.
Create a Marketing Plan
Creating a marketing plan can be daunting, but you can start small and grow your streetwear collection over time. Start by spreading the word on social media or your existing email list. But to gain momentum, you need to be in front of an engaged audience that already fits your target market.
Partnering with an influencer who already loves streetwear and posting product photos is a great place to start. Depending on the size of their audience, you can pay a flat fee, a percentage of sales, or exchange products for exposure. Another option is to look for like-minded businesses that are not competitors. For example, a skateboarding company, a YouTube channel, or a company that only sells sneakers might be interested in collaborating.
Generate Some Buzz
Whether you're still struggling to run your business or trying to maintain sales, this is always a great time to make a splash. Host a contest where entrants can earn extra points by spreading the word on social media or passing the promotion on to a friend. Apps like Rafflecopte, Shortstack, or SweepWidget can help manage the details of contests and engage viewers to spread the word to increase their odds of winning free products.
Provide Exemplary Customer Service
The customer service you provide is just as important as the product you create. Research shows that 90% of Americans consider customer service when deciding whether to do business with a company. Offering a live chat option, checking their orders with customers, and doing everything you can to get things right goes a long way in building trust with customers.
Research Your Results
Even if your business is thriving, researching your results and data is essential. Otherwise, you will miss valuable opportunities to improve your processes and identify strengths and evidence in your business.
Research which pages attract the most customers and from which channels. You may find that you can skip advertising on Instagram and focus on TikTok instead. Or you might see that many people don't complete the checkout process. An abandoned shopping cart app that entices customers to complete their orders or revisits the user-friendliness of the process can boost your sales.
Perfect Your Process
As your streetwear business starts selling and selling, it's time to refine your process. See everything from the products you sell to how you handle your finances to make informed choices about your business. You may find that you spend too much time on social media and not enough time following up with customers.
Relying on tools to keep your business organized and free up more time in your industry can also save time and money. Outsourcing bookkeeping, using project management tools like Monday.com, and setting up automated "zaps" on Zapier to simplify your business are all ways to simplify your business and increase efficiency and profitability.
Above we have introduced the process of starting a streetwear business, if you are looking for a streetwear supplier, please contact us.
RAINBOWTOUCHES is a professional custom streetwear manufacturer, that mainly produces and sells casual men's and women's wear, trendy fashion, sportswear, with the brand characteristics of leisure, avant-garde, comfort, and fashion. RAINBOWTOUCHES values and embraces different cultures which in turn is a rich source of inspiration for its creations. We add more color to every soul's life by creating a variety of styles of streetwear for groups of different cultures, helping them express their individuality and way of life.