Why Creating an Online Apparel Marketplace will Boost Your Business?
An Industry That Never Goes Out of Style
The fashion industry is one of the most lucrative businesses which is witnessing unparalleled growth amid the digital revolution. The industry is actively embracing innovative technologies for the emergence of new concepts like an online apparel marketplace or e-commerce that has revolutionized the fashion industry.
According to a fashion e-commerce report by Statista, the market is expected to grow by 12.2% per year and reach a total market size of $991.64 billion by 2024. Online marketplaces have raised sales of apparel, the marketing of which was formerly geo-restricted to the location or native of the weaving community. But, with the emergence of online apparel marketplace, small and medium enterprises can now offer their products to audiences beyond their physical reach, globally.
So, in case you plan to start your own online apparel marketplace in 2020, this blog is your best guide on how to start selling clothes online.
What is an online apparel marketplace?
An online apparel marketplace is a form of e-commerce that is powered by technology which serves as a virtual mall. These kinds of buyers platforms or the B2C sites have been breathing for several years now, it is now time for the rise of online B2B apparel marketplace for manufacturers and wholesalers.
Since fashion & apparel is one of the most comprehensive e-commerce markets, the wholesalers, distributors and manufacturers associated with this niche certainly have their own specific prerequisites in a B2B apparel market place.
Why create an apparel marketplace?
Selling clothes by creating an online apparel marketplace using trusted companies like JungleWorks delivers a great competitive edge to customers and furnishes numerous advantages, making it the ideal fashion B2B ecommerce platform. Let’s explore the answer to why create an online marketplace:
- No Rents: Unlike the brick-and-mortar model, online retail has a flatter entry wall – no payment of rent for a physical space, bear a physical inventory or pay salary to the sales employees.
- Track Feedback: Online retailers can incorporate AI and track users’ feedback, purchasing style and deliver better products.
- No Physical Presence Needed: Customers enjoy the convenience of browsing from a wide assortment of listed products from different brand sellers all under one roof, without the need to visit any store physically.
- Bigger Base: Marketplaces bring in a huge customer base traffic that promotes your brand to achieve recognition because it is accessible across all devices, is available 24/7.
- The wide customer base is one of the key determinants for the success of the marketplace as it presents a more extensive trend-setting apparel collection for buyers from all age groups encouraging the trend of buying apparel online.
- Small businesses can start off their businesses economically by start selling in an online marketplace.
- Niche marketplace addresses the need for a specific set of buyers hence offering specialized high-quality products that maybe hard-to-find.
- The creation of an online marketplace can be done in minutes and is economical that yield great profits.
To conclude, before going live, it is essential to have a thorough knowledge of how to start a clothing brand online. This article will serve you with all the necessary information you need to understand what all is needed for a cost-effective start-off. For everything else, trust JungleWorks