All the benefits of market research in the apparel industry

Market research is critical (even) for apparel and fashion companies. Here’s why.

What do different brands operating in profoundly different industries have in common? Everyone needs market research to solve marketing and business problems.

But there is another certainty that is not often talked about….

In some industries, market surveys are indicated both before a company is started and on a cadenced basis in order to be able to make important marketing decisions well in advance and prevent possible crises.

Among them is definitely the fashion industry.

That’s right: we could say that market research & clothing “match perfectly.” And there is no shortage of good reasons to prove it….

While reading, therefore, you will discover all the benefits of market research for the apparel industry.

Do you happen to have a business operating in this area or are you planning to open one?

Then please contact us as soon as possible and request a free consultation for a market survey tailored just for you!

1) Market & fashion research: choose it before starting a business.

Maybe it will seem obvious, maybe not. But before you open a business in the clothing (and other) industry, you should commission a market survey to find out:

• The trend, present and future, of the market
• Opportunities for growth
• The sketch of your target customers
• Competition
• The ideal suppliers and/or retailers

And much more.

First and foremost, athoroughmarket analysis lets you know whether starting an online or physical business is a good idea or may turn out to be “business suicide.” This is no small thing to begin with.

But there is more.

Secondly, it is essential to know everything you need to get your business off the ground in a short time such as:

• What are the preferences of the target customers
• how to communicate with them
• which channels to use

Market research conducted before starting a business is a unique opportunity to decide whether or not to jump in and to plan short- and long-term strategies.

As we anticipated, in the fashion industry, surveys should also be carried out on a regular basis, so that marketing issues important to the smooth running of the company can be prevented and handled.

2) Market research on a regular basis allows you to discover future trends and thus adapt to them.

In an ever-changing industry such as fashion, the only way to be able to keep up and be able to grow is to know in advance the trends of the coming seasons and years and organize accordingly.

The only tool to accomplish this is constantmarket research. This way you will know in advance what customers will want to buy and what they will expect from your brand or store.

Read also: Quantitative and qualitative market research: all the differences between the two different approaches

3) Know your target customers as if they were your best friends? It is possible thanks to online market research!

Online market surveys allow you to analyze a large amount of Big Data and draw up a sketch of your target customers.

But customers’ tastes, just like seasonal “musts” change all the time. And it is precisely because of this fickleness typical of the fashion industry that we recommend that you regularly update the profile of your target clientele. So you can adjust business and marketing strategies and never fall behind.

4) Not only identity–but also customer needs and preferences!

Knowing your target customers means knowing how old they are, what their hobbies are, what they do for a living etc… But it also means knowing what they love, what they need and what, on the other hand, is not quite in their wheelhouse.

Market research also lets you know which influencers are most followed by your potential customers, on which social channels they speak out and more.

Of course, amarket research agency can also find out which products you should focus on the most because they are much loved by customers–andwhich products your competitors are focusing on!

5) Know your competitors like the back of your hand (to do better than them)? With a market survey you can!

Market research for the apparel industry should always includecompetitor analysis, so that you know exactly who you are up against.

This does not mean knowing who your direct competitors are; you already know their names. But how much do you really know about them?

Competitor analysis allows you to learn about many aspects of your competitors, including the strategies (successful and unsuccessful) used to attract customers and communicate with them.

Only then can you do better and improve your position in your target market!

Read also: Online market research VS surveys and interviews: we have a winner!

6) Market analysis to adopt successful marketing strategies.

Market research enables you to make informed marketing decisions and adopt winning strategies for your business, short and long term.

For example, you can know, well in advance, how and when to launch a new product or line, how and where to communicate with your customers, what strategies to avoid like the plague, and much more.

Knowing how to move also means avoiding reputational crises or, if they cannot be avoided, managing them as best as possible to come out on top.

7) Market research is essential to prevent and/or manage reputation crises.

All companies, especially the most exposed ones such as those in the fashion world, are likely to face a reputational crisis sooner or later. Only some come out clean, some don’t.

For some, the image and economic damage is enormous.

How to avert such a risk? The difference lies in how you deal with the crisis early and in your awareness/unconsciousness of the impending bomb ready to explode!

If you commission market research on a regular basis to monitor your brand reputation, you can prevent or quell a reputation crisis in time so that you come out as successful as possible.

Read the article in which we discuss the reputation crisis foiled by one of our client companies thanks to our help: Agent to Report – Reputation at Risk!

In conclusion

Market research, especially on a regular basis, is extremely important for apparel companies.

Today we wanted to summarize the general benefits of a market survey for your industry… But we know that each business has its own specific needs and goals.

We suggest, therefore, that you contact us to find out what we can do for you and your business!

We are ready to plan the perfect market research for your brand.