We sell accessories to both online and brick and mortar stores, and we often hear that each type of business thinks the other one has it easier.
The formal sources account for only 10% of fashion sold online compared to in store, but their presence seems to be growing. At some point it will balance off, and fashionistas will simply choose the way of shopping for their favourite fashion items or brands that works best for their lifestyle. The most important thing for you to do is to create a great shopping experience, regardless if you have a brick and mortar store or retail website.
Let’s take a look at both business types and see how we can maximize fashion sales knowing the advantages of each. Remember that building on your strengths will always help you to achieve more!
Brick and mortar fashion stores:
- Physical location serves as advertising
- Attracts potential walk in clients
- Offers hands on experience: clients can see the fabric, try items on, and see how the clothing fits
- No shipping fees
- Immediate product availability
Online fashion stores:
- Open 24/7
- No need to spend time and money on transportation
- Easy to compare pricing
- Easy to locate hard-to-find and specialized fashion pieces or coordinating pieces
- Can sell internationally
- Save on rent (but this can be easily offset by the high cost of highly competitive online promotion)
Is there anything in common for both fashion store categories?
- Building a long term relationship and feeling special and maybe spoiled a little bit
- Pleasant shopping experience
- Assistance with styling and help following fashion trends
Both types of stores solve the same challenges:
- Creating an opportunity for impulse purchases
- Building efficient strategy on social media
- Creating advertising and loyalty programs that will speak to their clients
As an accessories wholesaler, we find that fashion accessories are equally loved by brick and mortar and online stores and do help to increase sales. Here is why:
- They are a higher profit margin item
- Low purchase cost, so little investment is needed to maintain great variety
- Accessories are a great add-on sale
- Create the complete styled look on displays and help sell pricier clothing pieces
- More general in nature, so they fit any type of figure
- A great impulse buy
- Low return rate
- Most accessories are one size
- Easy and quick to ship
- They are daily use items, so they create a solid returning client base if you establish yourself as a go-to place to buy accessories
So have you looked at your store shelves recently (real or virtual) and thought of accessories as a product that can help you boost sales and help with styling at the same time? If you need our help with the strategies that will maximize your profit, let’s chat. There are many ways to enhance your clients’ shopping experience with accessories that will add more profit to your store.
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