Fashion trends keep changing, which lead to people experimenting with their closet a little too often. There was a time when people were happy visiting a store to make some quick apparel purchases. That has changed.
The marketplace is no longer limited to first-hand sales. Resale of apparel has become equally popular. This is particularly true about designer wear. Let’s say you purchased a fancy and expensive dress for the prom. If you no longer need it, a good idea is to sell your prom dress.
If you create an online buying and selling platform, it should take off in no time. All you need to do is to infuse certain features into the online marketplace so that attracting visitors and closing deals will become easier.
As per a survey conducted by Square, it emerges that every one in six retailers enjoys 100% revenue from online sales.
How does an online marketplace boost apparel sales and resale?
1. Improved Visibility:
When you float an offline store, your visibility is limited to the vicinity in which your store is located. Contrary to this, if you build a marketplace for formal wear or designer wear online, on any given day, you will enjoy extensive visibility.
Oftentimes, an online presence helps with creating a need. In such cases, customers who did not even intend to buy are also converted.
Additionally, you utilize additional promotional tactics such as running promotional ads to attract traffic.
2. Round the clock running:
If you have plans to sell men’s and womens formal wear, you must have considered both the offline and online options. A profitable bet here would be to unveil an online marketplace.
Improved accessibility always works as an added advantage. In the case of an online marketplace, customers enjoy the liberty of shopping 24/7.
The logic is simple. Give your customers a large purchase window and witness your cash registers ringing in no time.
3. Massive Variety and Versatility:
Today’s customers love being spoiled. It is understood that a physical store limits the amount of inventory that can be stored. This is not a hurdle for online marketplace shopping.
Additionally, these marketplaces run multiple personalized offers that help in improving customer engagement. The casual and formal wear industry is benefitting by creating an online presence.
If you must start a resale business, exploring the online marketplace is an equally viable option. This is an excellent place to get the prom dress consignment rolling.
In 2021, in the United States alone, online fashion sales accounted for 23.51 percent of total retail e-commerce sales.
4. Ability to face Competition:
When you set out to sell designer wear, you will be surprised to bump into an array of brands, which are already active in this area. This means you will have to create a competitive edge for your brand. If this is done in the right way, you will have a steady client base.
You can begin by introducing a sale and resale clothing website. Work towards creating a marketplace that is user-friendly and easy to navigate. Develop an online store where your prospect would love to buy formal wear.
5. Brings in Credibility:
If you need to find your dream dress, you probably don’t want to run around to tons of stores. Instead, you would most likely want to sit in the comfort of your home and surf through a sale or resale marketplace that offers high-quality, trendy, and fashionable wear.
Most importantly, a website or an established marketplace that acts as a point of sale helps in building brand credibility. It also creates a strong impression in the mind of the buyer, who does not hesitate to come back for a repeat purchase.
6. Helps track Customer Behavior:
When you initiate all your sale transactions through an offline store, it becomes difficult to track customer behavior. Tracking who your repeat customer is becomes cumbersome. Even if you can shortlist a few, you cannot be certain of their buying pattern.
This obstacle will not show up when you build your own online marketplace. You can comfortably gather all the valuable insights concerning the purchasing process and also come up with corresponding marketing efforts.
If you have an idea to sell designer clothes for cash, then start by building an online marketplace.
As per fashion resale platform, Thredup, the global second-hand clothing market, which stood at $36b in 2021, is likely to hit $77b in the next five years.
Building an Online Marketplace – The first step towards initiating the sale and resale of clothes
People love buying different types of clothes. In fact, after using a piece a few times, they look forward to initiating a resale. This is particularly true for fancy wear that does not have the scope of being worn repeatedly.
Amidst this, they would love to have a ready platform where they can start selling. This is reason enough to build a resale marketplace. A similar marketplace can also be developed for selling brand new wear.
Such platforms can transition into becoming two in one hub, wherein both sale and resale transactions can be initiated.
If you do not have expertise in building such a platform, then we are here to bring in our years of experience and expertise. All you need to do is call +1.408.621.8481 or write to us at email@example.com and we will be happy to assist you.