How To Scale Your Clothing Brand In 2024?

The clothing or retail market in the UK faced challenges over the past few months due to inflation, supply chain issues, and rising energy and material costs. However, according to Feb 2024 stats, “the market may reach over 75 million pounds by 2026.” (Statista). Additionally, the research concludes that women’s apparels generate more revenue than men’s and children’s garments.

These findings may help you choose the right target audience for your brand. It will help you run a clothing line that may help you scale profitably. Apart from the target audience, parameters like brand recognition, product pricing, quality and demand decide the business’s success.

Thus, the blog may help you know- “how to scale your clothing brand profitably in 2024” easily. It lists strategies that base recent clothing trends in 2024 to create the best scaling strategies.

6 Strategies to grow your clothing brand profitably in 2024

According to clothing trends from Vogue magazine 2024, “women skirts, collared tops, midi skirts and denims rule the trends.” Additionally, with pastels as the theme for clothing this year, Luscious lilac stands out as the most popular shade in 2024.

Moreover, what could be a better way to say Hi to spring than embracing softer shades? Apart from lilac, powder blue, pale pink and soft lemon. These colours go well with evergreen black.

Thus, these trends may prove profitable and update your summer/spring clothing collection for the 2024 year. Knowing the trends is just the beginning of rolling in profits. Here are other strategies to follow:

1)  Identify successful categories and re-price them

Every thriving clothing business shares some clothing line or categories that could be successful. However, it did not turn out as per expectations. The reasons can be – high price, low marketing or low stock.  Do not lose hope.

Re-launch the line with revised prices, discounts and marketing strategies. Identify the aspects that did not turn up last time. Get the best marketing experts to help you win the right audience and maximise sales.

2)    Research your customer market

You may have several options under the clothing line. However, choosing the right clothing line that matches customer’s demands is important. Identify the customer needs, budget, and styles they prefer. Sometimes, the style may not align with the ongoing trend.

So, do not follow the trend here. Follow the customer’s demand. It will help you gain a competitive edge in the market. If confused, carry surveys, visit shops for random customer views, and research forums to know your customers well. Research limits the failure chances.

3)   Launch a new sub-brand

One must look at the big picture to improve the profit margins consistently. Spreading brand structures makes sense if your customers prefer you. Research your existing customer’s expectations of your brand. Host webinars, surveys, polls and emails that consistently focus on understanding customers emerging demands. Now, analyse the stats you receive by comparing them with existing business brands. It helps a business decide whether or not to go for a sub-brand.

It may be a good idea for brands seeking new market expansion. It is a big decision as creating a sub-brand requires capital, market expertise, research, product development and launch. As a growing business, you may cover the expenses easily. However, it may impact the parent brand’s functioning. Check financial facilities that provide a flexible cash foundation for a new sub-brand.

You may get secured loans for business purposes instantly to finance sub-brand needs. It provides business flexibility to expand operations in the new market, research, product development and marketing assistance without worries. Besides, it eliminates any fears of impacting the parent brand’s functioning.  Identify the asset to pledge against the loan. Additionally, choose it only if you can repay the dues timely.

4)   Identify the best ways to promote the brand

Identifying the right branding and promotion strategy is critical for business growth. It begins with identifying the platforms your target audience uses the most. Promoting your brand on those channels will benefit you the most.

For example, individuals usually prefer Instagram and Facebook for apparel shopping. Running relatable business reels about your new offerings, price drops, collection discounts, etc., may boost engagement. It increases the queries and chances to converge a customer quickly.

Additionally, identify the advantage of promoting your brand through paid advertisement. If your brand has existed for a long in the market with good awareness, ad promotion may help. Identify the yearly marketing budget according to your business plan. You must not exceed the number on the business plan.

Apart from paid marketing, implement the best optimisation and content marketing plan. Create engaging blogs, articles, videos and descriptions that capture the attention.

5)   Collaborate with the best influencers

A brand must provide a memorable experience. Just selling products is no more than a label. Thus, communicate your brand’s voice that aligns with your target audience’s needs. Partner with someone that matters to your audience. It is not necessary to partner with celebrities. Choose fresh faces that align with your target audience’s goals. However, it may still prove expensive.

 If you do not want to lose a chance to grab maximum eyeballs, go for it. Check financial facilities that cover the need without troubling finances. To pay comfortably, check options like long-term loans from a direct lender near you. It helps you spread the loan costs by minimising the monthly liabilities. Thus, grab the opportunity without impacting other business operations.

6)      Encourage repeat purchase

Do you attach something in the shopping bag that encourages customers to walk in again?

Does the customer scream surprisingly on a discount coupon in the new denim pockets? 

Customers love the free complementary that brands shower them with. Who would not like a matching scarf with a new crop top? Some complementary purchases do not have to be expensive. Instead, it should be creative. Freebies, free services, and coupons encourage repeat purchases. It makes customers look for more with every new purchase or product.

They wait for your new collection and this aspect creates repeat purchases. Additionally, this aspect helps you utilise the existing and non-selling stock. You can sell it for free with other items.

Bottom line

These are some best ways to scale your clothing brand in 2024 respectively. Identify brand goals, customer preferences, budget, and analytics to re-market products. It helps you analyse and invest in a profit-optimised strategy. However, constantly reviewing the customer changes to the trends and utilising this to your benefit may help you gain a competitive edge in the market.

Roscoe Tanner is the Editor-in-Chief, leading a large team of writers at LoansForever. He has expertise in writing for various borrowing options like personal loans, long-term and short-term loans, unemployed loans and many more. Roscoe joined LoansForever in 2015 but previously worked with many reputed loan companies. He performs the major role as the editor, covering key aspects of loans and finance. Roscoe Tanner wants to serve at large in the progress of the company and to present a modern alternative to the traditional financial industry in the UK. He is a Certified Financial Planner and has a god-gift of connecting with people through his valuable suggestions and writings. His expertise as a writer and editor in the finance industry is based on his education qualification. Roscoe has done a Master of Business Administration (MBA) in Finance.

Leave a comment

Your email address will not be published. Required fields are marked *