How to Face the Modern Challenges in RetailDecember 19, 2019 183 min reading Unisex
The retail industry faces many different challenges all the time, whether it is down to a competitive market or evolving consumer demands. As we finish one year and get ready for another, we take a look at some of the modern challenges facing retailers and some of the key solutions to overcome them.
At Whispering Smith, we have been working with retailers since 1967 including high street stores and e-tailers. We understand the fast pace of the fashion industry and how important it is to make those new trends available on your shelf as soon as possible.
So, if you are hoping to remain successful into 2020 and beyond, consider these challenges and the best solutions to stay ahead.
Customer buying behaviour
Buying behaviour can be a huge challenge to retailers as customers’ attitudes can shift over time. Heavily influenced by celebrities, emerging trends and new technology, customer demand and behaviour should be a key force within your brand. After all, if you aren’t meeting their needs, why should they buy from you?
Today’s customers are looking for quick and easy ways to find and buy what they need, with an emphasis on timely delivery and available stock. Despite this, modern customers are also shifting to a much more sustainable attitude towards fashion. It is the challenge of the retailer to find a way to service both.
Manufacturers and wholesalers should be looking towards using recycled and organic yarns, despite the lack of attractive pricing compared to fast fashion. In 2018, Lyst noted huge increases in search terms like “vegan fashion” and “organic cotton”
At Whispering Smith, we have begun to use organic cotton across some product lines in order to shift with the consumer’s attitudes.
Retailers need to partner with the right wholesale supplier to translate seasonal trends into wearable garments at the right time. At Whispering Smith, our unique product offering puts us in a position to do this.
Huge choice of brands
Today’s customers have ample choice when it comes to fashion retailers; how do you differentiate from others in your industry? Understanding what makes you the go-to choice can be instrumental to your success, whether it’s celebrity collaborations, quick access to new styles or great discounts.
By finding the right wholesale supplier, you can make sure you maintain that unique selling point much easier. Attention to detail and quality is at the forefront of everything we do. We are the UK’s largest creator, wholesaler and distributor of fashion clothing, so if you need something specific for your brand, you can have the confidence that we are able to meet your needs.
Similar to buying behaviour, customers’ expectations can change and evolve at any time. Expectations are higher than ever before, with customers wanting a more personalised and seamless experience when they shop with you. This is thanks to advanced technology introducing new ways of interacting with brands.
Whether this means keeping your stock up to date on the website for customers to shop without problem or offering loyalty discounts, there are little things you can do to enhance the overall customer experience. This can be key to improving customer loyalty and building a positive relationship with your customers.
In a fickle world where buyers can simply go elsewhere, it’s key that you find the right product and the right buying process to keep your customers coming back. It is also beneficial to pay more attention to reviews; as we move into 2020, this will only become more important for a brand’s reputation.
To find out more about our wholesale services and how we can keep your retail company one step ahead, get in touch.
The author of this article is Anna Marianna White