How to start your own streetwear brand?
Profits will come from streetwear, with sales projected to surge to $185 billion. Streetwear is estimated to account for 10% of the global apparel and footwear market. You can tap into the enormous profit potential of streetwear by starting your own e-commerce business. From market research to analytics, here's how to build your own streetwear line.
Understanding street style
Street style emerged in the 1990s and has since become mainstream. The definition of streetwear has evolved over time, but at its core it is casual clothing that blends sportswear, skateboarding, hip-hop, and punk elements.
Before launching your own brand, it's wise to assess the style you want to sell. You might find that your understanding of streetwear leans more towards the high end than your competitors. Or, you might realize that your style is more sportswear than punk, lacking some of the rugged streetwear elements. Differentiating and serving a niche market is certainly good, but you also need to ensure your brand represents your target market and ideal audience.
Expand your competitors
Understanding your competitors' scale not only gives you insight into the streetwear industry but also helps you identify market gaps. Ask yourself what they do well and how you can create better products and improve the customer experience. Pay attention to the clothing they sell, their marketing methods, their visuals, and the usability of their websites.
Taking the time to browse your competitors' social media channels can also give you insight into what their customers are doing. Research which of their posts and photos receive the most attention, and what comments they leave. Beyond social media, you can also conduct surveys to find online reviews. Carefully read customer feedback, both positive and negative, and note how you can improve the customer experience.
Research your target market
If you're already selling clothing and other goods on e-commerce platforms, you're already ahead of the curve. You can send emails, conduct surveys, or share user feedback on social media platforms. Understand what kind of streetwear customers want, their favorite brands, and their preferred designs or customization options. The more information you gather, the easier the startup process will be.
Even if you don't yet have a defined audience, you can still research your target market and gather more information for your streetwear collection. Browsing Reddit or Facebook groups is a great starting point.
Keep operating costs low
Starting or expanding a business requires time and capital, both of which are typically limited. Research shows that 66% of small businesses face financial challenges, and 43% consider operating expenses to be their most significant expenditure.
There are always free or low-cost ways to start and run a business. Print-on-Demand (POD) can help you generate high profits with high-quality products. Our reliable and fast production and logistics services can also help you expand your e-commerce business. Most importantly, you don't need to pay any upfront costs; you start earning revenue as soon as your products are sold. There's no need to store inventory or incur any additional expenses.
Understanding your printing options and their impact on design and product quality is crucial. Otherwise, you may end up with poorly designed products and high return rates.
Develop a marketing plan
Developing a marketing plan can be daunting, but you can start small and gradually expand your streetwear line. Begin by promoting it through social media or your existing email lists. However, to achieve sustained growth, you need to reach an active audience that already aligns with your target market.
Collaborating with influencers who love streetwear and enjoy sharing product photos is a great starting point. Depending on their follower size, you can pay a fixed fee, a percentage of sales, or exchange products for exposure. Another option is to look for businesses that share your vision but aren't competitors. For example, skateboarding companies, YouTube channels, or companies that only sell sneakers might be interested in collaborating.
Create some topics
Whether you're still struggling with business operations or trying to maintain sales, now is a great time to make your mark. Host a contest where participants can earn extra points by promoting it on social media or sharing the event with friends. Apps like Rafflecopte, Shortstack, or SweepWidget can help you manage the contest details and encourage viewers to share event information, increasing their chances of winning free products.
Provide excellent customer service
The customer service you provide is just as important as the products you produce. Research shows that 90% of Americans consider customer service when deciding whether to do business with a company. Offering online chat options, checking orders with customers, and making every effort to ensure everything goes smoothly are crucial for building customer trust.
Study your results
Even if your business is doing well, researching performance and data is crucial. Otherwise, you will miss valuable opportunities to improve processes, discover your business strengths, and gather evidence.
Research which pages and channels are most effective at attracting customers. You might find it's time to abandon advertising on Instagram and focus on TikTok instead. Or you might discover that many people don't complete the checkout process. Developing a shopping cart recovery app that encourages customers to complete their orders or improves the checkout user experience can effectively boost sales.
Improve your process
As your streetwear business grows, it's time to optimize your operations. Examine everything from the products you sell to your financial management to make informed business decisions. You might find yourself spending too much time on social media and not enough time engaging with customers.
Using tools to keep operations organized and freeing up more time to focus on industry development can also save time and money. Outsourcing bookkeeping, using project management tools like Monday.com, and setting up automated “Zap” on Zapier to streamline business processes are all effective ways to simplify operations, improve efficiency, and increase profitability.
