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Published March 2024
What every fashion sourcing entrepreneur needs to know to get product off the warehouse shelf and into the market
While creating a product may be the first thing entrepreneurs consider when visiting the SOURCING at MAGIC event, getting that product to market is an essential next step. Nichole Simms, the CEO and Founder of Creative Visual Solutions, led an in-depth session at the February 2024 edition that delineated the path to selling a brand — from marketing and visual merchandising, to customer service.
Simms began her onsite presentation by emphasizing that business entrepreneurs must understand two key things - a product’s target market and what will attract the target customer to the brand. Once an entrepreneur understands and establishes these two key things, everything else will fall into place; from the retail venue, store or website design, to communication and customer service.
Some of Simm’s practical and useful tips from her on-site session included:
> Grow Customer Lists: Offer incentives to draw customers to the store or website and then be human in those communications; people want to buy from a person. Email marketing has a 40% ROI, the highest form of any marketing, while text messaging offers a 98% open rate. If a customer is sharing a phone number, it means the brand is important to them
> Start Blogging: This marketing tool is an easy way to establish the producer’s expertise, but also creates the opportunity to tell the story of the brand.
> Advertise: Use Google ads or whatever media reaches the target customer. Advertising can be directly related to sales, but can also be about brand recognition and building traffic
> Visual Merchandising: This is key to keeping customers on your website or in store. Consider lighting and color to stay consistent with your branding, and the "power of three", such as mannequins, images, or signage - people respond to groups of three
> Open Store Layouts: A store's layout should feel open and roomy, not claustrophobic. Depending on the customer, they can be on the diagonal, rounded, or rectilinear - with Simms adding she prefers symmetry
> Clear Signage: Signage should be everywhere in the store. Research shows that displays with communicative signs sell 30% more than those without
> Servicing the Customer: Customer service should be viewed as a conversation between the brand and the customer
> Think Systemically About The Products: From making responsible sourcing decisions all the way through to creating an effective sales strategy
> Consider Your Brand's Unique Value Proposition: What do you do well? What does your competitor do well? What do your customers want and need? The sweet spot for any seller lies where those three fields intersect
> Retail is a Team Sport: As the brand grows, build a team of trusted individuals that not only can sell but also reflect the brand. Be sure they look the part and are skilled in building customer trust
"With these essential foundations, and having the right team and trusted partners in place as the brand grows, building a retail empire of your dreams is possible."
SOURCING at MAGIC is here to support today’s entrepreneurs with the resources they need to succeed.
Join us at our upcoming events in Las Vegas on August 19-21, 2024, and our return to New York for a curated assortment fueled by entrepreneurial spirit this September 22-24, 2024.
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