Market Research 101

Market Research 101

Posted by on Jan 9, 2019 in Emerging Designers, Fashion, Industry Know How, Marketing, Mentee | 0 comments

When launching a new label into the current landscape of the fashion industry, you can never do too much research! Knowledge is power, and a thorough understanding of where your brand sits alongside your competitors is something that will help in shaping the personality of your brand.Each month our Fashion Label Launch Pad students participate in a hosted group call to discuss queries and questions they are experiencing in the journey of starting up new fashion labels. Last month we discussed what to consider when carrying out market research and how to implement your findings to better your label as a whole. Here are our top considerations!SWOT AnalysisAnalysing your business’ strengths, weaknesses, opportunities and threats is the first step in helping to determine where your label fits against your competitors in the marketplace you are appealing to, plus the wider fashion marketplace at large.What are your strengths? Is it the team you have behind you? Or is it the technology you have at your fingertips to create your unique garments? What is going to give your business a leg up in this industry and how do you stand out from the crowd?Your weaknesses can be evaluated alongside unexpected threats. Knowing your label’s disadvantages early on will help in staying well prepared for anything that comes your way, therefore being able to problem solve quickly and effectively.Business Plan/ MarketingWhat do you want the next 3-5 years of your business to look like? In the early stages of your label never underestimate the power of goal setting. Set your goals high and don’t stop until you get there!Think of your budget. What costs are going to be involved? How much and how frequently? What about unexpected costs, how are you placed to deal with them?Know your expenses vs your income and use your market research to help in formulating your tailored business plan.Important Considerations and ToolsWhat is the size of the marketplace/ or segment of the marketplace you want to operate in? What are the current trends? Does this segment need another label and how can you position yours to succeed?What is the price point for your product? How does this fit into your desired marketplace?What other labels are selling similar garments at similar price points? You can observe their social activity, marketing and publicity campaigns to help give some direction on how to conduct your own marketing of your label.Useful toolsEcommerce platformsFashion/ trade magazinesPrint and online industry mediaDiscussions with other like minded brands and labels in your marketplaceUse of focus groupsContact Sample Room today to see how we can guide you in formulating your tailored business plan and assist in the success of your new fashion...

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Your Brand. Your Launch.

Posted by on Jan 25, 2018 in Emerging Designers | 1 comment

If you are an emerging fashion designer, from day 1 you are probably considering your brand launch. What lengths should you go to in organising a launch? Is a launch expensive?Well, like anything in life, launching your brand, and the expense behind it comes down to YOU. At Sample Room, we’ve seen many different launches over the years, each of them equally wonderful and successful, and some not so successful. You just need to know who your customer is—we say this a lot at Sample Room, but we can’t stress how important it truly is to know who you’re selling to BEFORE you start selling—and cater to them.Not so long ago, one of our mentees launched her brand and it was a huge success for her with sales on the night of the launch reaching $30,000. One of the reasons behind her success was that she lived and breathed her brand. She wore her designs, she constantly marketed her brand and knew exactly what type of woman she was designing for. Because of the groundwork, she laid in establishing her brand before launching, our mentee was able to invite friends, work colleagues, neighbours and family members to her launch. Each of these people also spoke about the brand and invited more people along.How to successfully launch your brand? Know your target crowd and what type of people you're designing for.Click To TweetYour launch need not be a tricky process. You don’t have to spend thousands of dollars and you don’t need to include Anna Wintour on the guest list. It can be as simple as inviting school or kinder mums over for champagne, or a bunch of your girlfriends and theirs too. It can be a dinner party where the men at the table get a chance to see the host wearing your brand. Why not consider a pool party, if you’re designing swimwear or a cycle event and the endpoint is your launch? Get creative in planning your launch. Maybe your designs are kids’ sleepwear—invite all the mums you know, stock the freezer with Icy-Poles and have a face-painter there so the kids are entertained while you launch. If the label you are designing is clothing for woman, why not consider bringing in a stylist to help your customers learn how to put an outfit together? Most of us need a little styling help, wouldn’t you say? We’ve all got different—yet equally fabulous—body shapes so having someone on hand at your launch to give guidance in say, teaming a particular scarf with a shirt. Or how those tailored suit pants you’ve designed can be dressed-down to go from the office to a casual night at the movies.The important thing to remember here is not to underestimate the option of in-home selling. Remember all those lingerie parties, Nutrimetics and Tupperware parties, where the host invited all her friends over?...

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