Advancements in technology have brought us the convenience of doing almost anything possible on the internet. That includes shopping and buying your groceries. From choosing your basic needs to purchase clothes from an online store such as NimbleMade.com, the internet has given us the liberty to be at work while looking at things to buy.
But have you ever wondered why most businesses right now choose to go online with their stores, especially clothing brands? Business analysts say it would be foolish for any brand to ignore this kind of channel that might help their businesses grow. Here are some of the Pros and cons of owning an Online Clothing brand.
The Pros of Owning an Online Clothing Brand
Compared to having a physical store or booth, Online Stores are much easier to set up. A lot of online marketplaces and selling apps offer easy access to their services, and a business owner hardly needs expertise in starting their online businesses with these channels. Websites nowadays also provide easy customization, and they would offer a pre-configured set up for anyone interested in selling their clothing line online at a cheap cost too.
Cheaper and More Affordable Set-up Costs
Compared to setting up a physical store, some marketplaces offer a more reasonable cost to start your own clothing line business online. They could offer a business owner a package with many freebies for the start-up, and some marketplaces also provide premium services, which include data analysis. And even a team of customer service reps that help you out for any specific requests you might have for your online clothing business.
Risk of Item Loss is Very Minimal
For online clothing businesses, there are very low possibilities for item loss. There would be no pickpockets or shoplifters to take your items, and the possibility of losing your item through a courier service is very low.
Your Store is Open 24/7
Having your online store gives helps you keep training your goods all day, every day. Even when you are asleep, your store is open for everyone to see. They can pay and buy your products without you also moving a finger. Anyone can drop by your online store any time of the day at their convenience.
Wider Customer Reach
Your scope of customers would not just be limited to people locally but possibly internationally. People who have access to the internet wherever they may be, can view your goods and see what products they can purchase for themselves or their loved ones even if they are living from a different country.
Less Employee Cost
Unless you have to pay someone to check on your online inventory and do some restocking, then paying employees would be minimal for you. That would mean more income for you and less on the workforce expenses you might be paying if you have a physical store.
If you have chosen to place your business in a marketplace, chances are the package that was provided by the marketplace comes with data analysis and reports. This would come in handy when you check on sales and also on inventory and manufacturing software that would save your time and energy to gather your weekly, monthly, or yearly sales for tracking purposes.
You don’t have to be always present at your store. You can check your inventory and do your selling and checking even at the comfort of your own home. You can go on vacation and not worry that your goods and products are not being sold. You can restock if your inventory is running low even on a Sunday night while you are eating dinner with your family or on a night out with friends.
You don’t have to worry about your goods getting wet because they will be delivered at your physical store. Your business would not be affected because inventory items are stuck in traffic. All of these concerns and problems are for business owners who have physical stores and booths, but not you who has his / her business online.
Promote Your Products Easily
Word of mouth marketing is compelling. For online stores, social media is also another tool to help you increase sales, profits, and customers too. With a simple click of a button, you can share your online store’s products or services through different social media sites.
The Cons of Owning an Online Clothing Brand
Physical stores at a specific location have limitations, while online stores do not need physical spaces to occupy. Therefore, allowing an unlimited number of business owners to set up their online stores too.
Marketplaces and Website Services Either Take A Cut or Charge Service Fees
Having your business online through a marketplace or a website means for each product or service you sell, they have a cut out of that profit. That means you, as a business owner, do not get to enjoy getting the maximum possible profit that your store earns.
No Personal Touch
Having your business online means there would be less personal interaction between you and your customers. Some customers would still prefer a personal touch of greeting or assistance when it comes to buying the products or services they prefer. Customers also might have doubts about getting the clothes from online stores because there is no way for them to check if the clothes would fit and returns can some times be much of a hassle.
Because customers do not have a chance to see your products or services personally, one might think twice about buying from an online store. People might think about the possibility of not being able to get a refund if the item is not in good condition or maybe a replacement if the clothes are the wrong size.
Pros and cons will always be present in any business situation. Either you have your store online, or you chose to have a physical store where people can just walk in, these will be present. Most business owners would then resolve this concern by having both types of stores. They would choose to start having a physical store first then start getting an online store afterward or vice versa. A business owner must be smart in making these choices.