Development trends of the fashion industry and marketing strategy in 2021
In 2020, there is strong fluctuation in the global economy due to pandemic COVID-19. This event has changed the behaviors of consumers in choosing products and purchasing methods. They are also stricter on campaigns leading to the change in marketing strategies of brands.
Here are some marketing trends that high-fashion brands can apply in 2021.
1. Social media x E-commerce
Not only did COVID-19 break out and completely freeze outside shopping, but in recent years consumers have also tended to shift their in-store demand to online platforms. However, the impact of the pandemic on E-commerce has likely changed the way retailers do business.
More and more people shop online for new products without product experiences instead of already-known products. It only increases the number of online orders rapidly, it also changes the demands of customers.
In the first period of 2020, we witnessed a decent for most businesses, but E-commerce showed that many businesses adapted well. To create sales, many brands discounted continuously, sold quickly, and supplied vouchers to users on E-commerce. Therefore, although the average value of products was lower than usual, the number of sales was increasing actually because shopping online was the only choice in this period to buy products including fashion products which require to try on. Hence, even when other shopping channels are affected, E-commerce can guarantee the sales of a business and replace the direct shopping method.
E-commerce brings in the amenities to both sellers and buyers. For businesses, E-commerce allows them to solve and complete the transaction virtually and quickly. Besides, thanks to social media, product information is clear that gives better shopping experiences to the consumers. If E-commerce is the final channel for customers’ decisions, content in social media is the portal for products to be recognized.
Besides, marketers invest in KOL/influencers whose followers match with the target consumers of brands so that they can do marketing on the right customers.
2. CSR becomes the main marketing activity
According to the statistics, fashion sits in second place in the populating industry worldwide. When the environmentalist predicted that the ocean pollution due to the waste from the fashion industry can reach 1 ton of plastic per 3 tons of fishes, the giants in the fashion industry such as H&M, Adidas immediately made commitments on “solid fashion”.
This trend was born as a promise of famous fashion brands for a new era that humans get satisfied with beauty demands without harming the environment. It works perfectly in this era when disasters happen increasingly while the beauty demands of humans can’t stop.
It is considered a beneficial trend for both consumers and businesses. Consumers are ready to pay higher for environment-friendly products. They believe they are contributing to building a solid environment via their right shopping behaviors. At the same time, buyers can change their loyalty if the brands can spread meaningful messages that influence their feelings.
“Let’s shop clothes made from one material only” Christopher Raeburn – a designer and creation director of Timberland.
3. BOPIS trend – Buy Online, Pick-up in store
Along with discount campaign on E-commerce, retailers also apply BOPIS to meet the customers’ desire. BOPIS stands for Buy Online, Pick-up in store, a great way to stimulate the online traffic and keep their offline and online experiences unified.
This combination of BOPIS allows brands to interact directly with customers, update their demands, and supply more convenient shopping methods for everyone.
In the retail field, buyers want to have more choices and flexibilities in completing the transaction. They consider speed and effectiveness as the main elements to interact with a brand or not. BOPIS satisfies all the conditions above by allowing customers to buy the products and pick the exact time to get them.
4. Take advantages of new platforms
TikTok is the most developing platform, and brands cannot miss this chance to approach their target customers there. TikTok has a high organic reach. Brands can create viral content that will help audiences identify brands easily at a low cost or for free. Using hashtags is also a way to help push video views higher on TikTok.
After one week of co-working with an influencer in TikTok, Levi’s got double views on their products. This campaign also attracted more customers to visit their E-commerce channel.
When stores are forced to close or reduce their operation method, many people come to Shopify. Basically, Shopify supplies tools allowing businesses to open a digital version of their store in many online channels including social media to optimize sales.
For many people, this is their first experience with Shopify, and Shopify supplies support services in the pandemic such as free trials in the first three months so that the users can get used to its platforms.
In fact, since the social distance was applied, the number of new sellers in Shopify has increased 8%, while the number of buyers of a new seller has increased by 45%. Totally, the value of goods sold via E-commerce and online stores of Shopify has raised 46% which was predicted to happen only when did businesses acquaint with this new method.
Building digital marketing plans to push sales in 2021 in the fashion industry
The end of the year is the golden time for businesses to increase sales and make marketing plans for next year. With the fluctuation of the fashion industry this year, brands should consider some marketing activities as below:
■ Optimizing user experiences in mobile with Social x E-commerce services, creating new social media.
■ Increasing the traffic of online channels with Social Group Marketing combining with Influencer and E-commerce.
■ Increasing the competitiveness in online channels with short product videos, review Livestream with KOL.