4 Reasons Why Fashion Brands Should Sell On Marketplaces

The global fashion industry is rapidly moving towards the logical evolution stage - digital adoption by mainstream consumers.

It is not a secret that consumers look for certain products on online platforms or marketplaces as their first point of reference. Nowadays, online is where fashion brands can go up to the next level.

In this blog post, we’ve compiled 4 main reasons why fashion brands should sell on online marketplaces.

1. Global Vs. Local Market
   A combination of the fashion industry and e-commerce is a strong tool for growth and innovation. E-commerce as a concept has influenced transformations in the fashion industry, which has provided the ability for customers to shop from any comfortable place they like including their homes.
   
   Luxury fashion brands are now widely accessible and available to a worldwide market and are a part of the global economy.
   
   It is a great opportunity for fashion brands to sell their products online since it allows them to reach a much larger market. Selling online allows the company to have customers anywhere in the world. So, if a fashion brand starts selling on a marketplace, it can potentially expand to the global markets and target certain segments of these markets.
   
   

2. Generating Demand/Increasing Brand Awareness
   Customers tend to research online first, regardless of where they plan to buy online or offline.  If your online store is built the right way, customers will be able to easily find and reach you. All you need is to choose a social media platform to be able to spread the news about your brand and launch different promotions.
   
   Having an online store helps to make sure that potential customers find your product information and are able to interact with you to get an online consultation as well. When customers do a product search online, you want to be listed in the top search. This will increase your brand awareness so you’re always in front of your customers.
   
   

3. Direct line of communication with your customers
   There are numerous benefits in being able to communicate directly with your customers. If you have a direct line of communication with your customers, you can ensure they know enough about the item to appreciate its value. You can advertise new fashion products, seasonal promotions, special offers and you can easily get feedback from your customers.
   
   The industry is evolving, therefore more and more companies are increasingly adopting and interacting with their customers through various online platforms. This gives them the opportunity to collect valuable information, which can be used to better understand customer needs or to improve the brand image within the community.
   
   

4. Benefit from Technological Innovation
   In developed markets, companies are willing to innovate through the use of machine learning, e-commerce and automation tools that provide relevant and personalised customer experience. Nowadays, there are such experimental tools as virtual fitting rooms and AI-powered virtual shopping assistants, which are aligned with consumers preferences.
   
   Additionally, many fashion companies are increasingly adopting the use of mobile applications to promote and sell their products on online platforms. Hence, mobile applications can be seen to be a significant innovation, which is targeted to grow consumer engagement.

To summarise, marketplaces provide numerous benefits for retailers and allow them to increase their client base by expanding into new markets. Even though e-commerce may sound like a risky investment for smaller companies, it still provides a competitive alternative to traditional physical stores, helps minimize inventory, reduces costs and builds brand awareness and loyalty.

Still thinking whether you should sign up on a marketplace?

The best way to predict the future is to create it!