Retail is the business of purchasing clothing from suppliers and distributing it to consumers. Three to six months before the buyer can buy the clothes in-store, retailers make initial orders for resale. The clothes must be sold after they have been produced and made.
There are various different processes in the fashion industry:
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- The method of organizing the distribution of goods from the original collection of designs to be manufactured to the introduction of items to retail consumers is known as fashion marketing. The purpose of fashion marketing is to maximize a company’s revenue and profits. Therefore, understanding customer demand and reacting with suitable goods are essential components of successful fashion marketing.
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- Marketers give guidance to designers and suppliers on the type and quantity of products to be manufactured using price monitoring results, media reports, focus groups, and other methods of determining customer tastes. Thus, marketers are in charge of finding and determining an apparel producer’s target buyers, as well as reacting to their tastes.
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- At both the wholesale and retail stage, marketing is used. Companies that do not market their goods at retail would position them in possession of retailers, including boutiques, department stores, and internet distribution companies at wholesale rates. They use runway displays, catalogues, and a sales team armed with sample merchandise to find a near match between the manufacturer’s and the retailer’s items.
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- Marketers that work with businesses that market their goods in stores are mainly concerned with matching products to their client base. However, marketing also includes promotional practices such as print and other media ads at both the wholesale and retail levels to create brand awareness and credibility for various attributes such as consistency, low price, or trendiness.
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- Merchandising is closely linked to selling in that it aims to increase revenue and profits by persuading customers to purchase a company’s goods. In the most basic form, merchandising entails delivering the right goods to the right buyers at the right price, at the right time and place.
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- Therefore, fashion merchandisers must rely on information from marketers about customer preferences to make decisions about things like stocking appropriate merchandise insufficient but not excessive quantities, offering items for sale at attractive but still profitable prices, and discounting overstocked goods.
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- Merchandising also includes using shop windows, in-store shows, and special sales activities to show merchandise in an appealing and accessible manner. In addition, merchandising experts must react quickly to spikes in demand by purchasing new supplies of the desired commodity.
The Internet has grown in importance as a shopping source, posing new problems and possibilities for merchandisers. As a result, merchandising has emerged as one of the cornerstones of the global fashion industry in an age of increasingly varied buying opportunities for retail consumers and intense market rivalry among retailers.
Wear designers and suppliers market their products to retailers such as fashion buyers and the media fashion journalists and consumers. In addition, the famous couture houses worldwide have started to offer private viewings of the new fashions to their customers as early as the late nineteenth century.
