The textile industry of Pakistan is a prominent one amongst the most, nearly contributing to 9% of total GDP of the country. In the modern day, the retail fashion brands have mustered an immense popularity and over the last decade, it has been a pleasant occurrence for the people of the country. In the past, the concept of fashion itself was naïve and shallow. The transformation took place due to the globalization which really fostered this development and over the last two decades the local economy has benefited from it wholly.
Although, the retail fashion industry escalated in the recent century, the real challenge faced by every label is how one brand is different from the other. In other words, everyone might be offering the same product and it may sound banal, but how to be dissimilar is the real task at hand. Many play a ploy of marketing gimmicks to attract a huge segment of the market, however in recent times people are well informed and the façade shown by many can not prevail for a long time. So, what’s the way to go about it.
Unique Selling Point (USP):
When it comes to being different, everyone orbits around being unique in what they offer and this is the reason a clothing store becomes a fashion retail brand. To achieve unique selling point, any brand has to inform its market about how the features of their product is different from the others. In other words, this can be a specialty that they are offering or at least implying in contrast to others. For example, Monark menswear has bridged the market gap by offering the people with smart clothing according to their fit, what they have done is eradicate the practice of getting the garment altered every time a person bought from a brand adding convenience for the buyer.
Much of the success is achieved by the companies who partner up together for a common goal or objective. This is clear enough that a common goal is profit maximization or achieving high revenues, but in times where there is a huge choice it is very hard to stand out and highlight your product different. For example, Under-armour a renowned sportswear brand recently collaborated with the Hollywood eminent star Dwayne the Rock Johnson to launch a range for active wear and training, and it turned out to be a global hit. Similarly, in the local market, Munib Nawaz collaborated with Hush puppies to launch a collaborated line of shoes. However, there are times when a collaboration turns out to be adverse, this can be due to multiple factors but most notably when two brands who do not have similar associations collaborate, most of the times it turns out to be a failure.
In today’s world where the market has been inundated with competition and choices, brands have to stand out and appear different by maximizing their shopping experience. This is to say, that companies should be looking forward to create an environment in their retail stores that not only satiate their need but also elicits a sense of belonging to the brand, this can be done by improving services at the stores which include the dealing of sales staff, the stock placement in the stores, the ques at the cash till, the overall ambiance of the store which includes, fragrance, light, music, décor and more. In a nutshell we can consider these elements as the visual merchandising and in fact VM is a key component of shopping experience. In addition, VM translates a brand’s association which can be utilized by a buyer to relate himself with the company and creating loyalty.
All in all, in a capitalist market there are copious choices for a person to purchase from. However, what makes a brand different is how they stand out amid an overwhelming market of players. This is achieved by offering something different, co-brandings and an enthralling shopping experience.
Whitney is a creative writer and content strategist from M Tech. I am a graduate of the University of London. Currently, I write for various websites and working in Bestway Software House. I am interested in topics about self-education, Social writing, motivation and Technology.