Many people are interested in running women’s or men’s clothing & clothing wholesale business. This interest in business is natural because the more people here come to “fashion literacy” but they still take into account the price of the fashion that will be purchased. To keep looking fashionable with minimal capital, buying wholesale clothes is considered the right alternative. Interested in running a wholesale clothing business? Or just running a wholesale clothing business? If so, make sure not to overlook the SWOT analysis in the wholesale clothing business.
Identifying business strengths is important to be able to maintain or even develop strength so that competitors are unable to equal and even match. What are the strengths in your wholesale clothing business?
- The quality of clothes that can be maintained
- On time delivery
- Large parking area
- Comfortable room atmosphere
If everything is owned, your steps are to optimize strength by collaborating with quality material producers & ensure smooth distribution (if necessary cooperation with quality material producers as a backup), cooperation with professional shipping / owning business vehicles, adding CCTV or security guards in the parking area, and always change the paint before peeling / repairing the air conditioner if it is damaged.
Not only strength, but also business weaknesses are also important to know. By knowing weaknesses, you can immediately fix it so that it does not interfere with business operations and even threaten business continuity. The following are illustrations of weaknesses and improvement strategies:
Less strategic location. Location determines business success. A less strategic location will make it difficult for consumers to find it. The strategy is to have a website for online stores.
Brands have not become top of mind. Making a brand as top of mind is important to increase sales, but in fact it is quite difficult especially for beginners. One strategy can be to make artists as brand ambassadors in advertisements that are intensified.
Financial conditions are always bad. This happens because of the lack of capital or indeed how to manage the wrong money. For that, you can get an injection of funds from a financial institution loan or use financial planner services.
Look at the opportunities! This opportunity can be used to maintain the survival of the wholesale clothing business. Opportunities can be obtained from community issues, needs, & desires, government policies, or environmental conditions.
Technological developments are increasingly rapid. Internet, a manifestation of technological development. The strategy is to make use of the internet to promote the wholesale clothing business for Tanah Abang online so as to expand market share.
The profession of the people around the business is students. Students need trendy clothes to support their passion, but the amount they have to pay must be economical. Wholesale clothes at affordable prices will be their easy target. The strategy can be door to door promotion or word of mouth marketing.
Competitors in the local area do not excel in service. To get consumers’ hearts not only from the quality of goods but also from service. For that, maximize services such as 24-hour customer service, receiving complaints of defective items, etc.
Every business including wholesale clothing business must have a threat. The threats that have been detected must be immediately anticipated so as not to reduce sales, business setbacks, and even make the business go out of business.
Many previous competitors. Not that the old market leader, new business people can become market leaders. The strategy is to ensure that the wholesale clothes offered are different from those of competitors both in terms of the model and the quality of the material. Not to forget, excellent service must be optimized.
The rise of online shopping. People today prefer shopping online rather than having to go directly to the store. So, you must follow the development of the times by creating an online shop with responsive design that can be accessed both through laptops and smartphones.
Competitors offer relatively cheap prices. Every consumer is interested in low prices. This means losing consumers. To overcome this, you can optimize in terms of product quality, ease of payment process, or excellent service.
SWOT analysis requires a lot of time. In addition, for accurate results, surveys need to be carried out, for example through questionnaires for customers, marketing tools to find out the marketing strategies of competitors, especially through websites / social media, interviews for surrounding communities, and news for government policies.