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CHALLENGES FOR NEW CLOTHING BRANDS IN EXISTING MARKETS

As a new brand enters the market, it finds it difficult to survive because of the known brands / established brands in the market. It becomes very difficult for the new brand to establish itself and then survive in the market. Also, the fashion industry is very dynamic. New changes take place very quickly. One change can either stay for 5 days or 5 months or even 5 years. So it is difficult for new clothing brands to enter and keep changing itself according to the needs of the consumers. New brands have to compete in the terms of pricing, quality and many more things. Let us understand them briefly:


  • CHANGE IN TRENDS

As discussed above, the fashion industry is very dynamic. It changes very quickly. Therefore it is very necessary for the new brands to understand the market needs and adjust according to it. New brands find it more difficult as established companies already understand the market and know how to work at that time, whereas new clothing brands along with competing with other brands have to adjust.


  • PRODUCTION ACCORDING TO THE NEEDS OF PEOPLE

It is very necessary for the new brands to study the market needs and then produce clothes accordingly. And there are different needs for different customers. But the brand must understand and plan strategically to survive for a long period of time. It must make sure that they produce those goods which can give them a good amount of profits.

Established brands had already studied the market in the past and knew which kind of clothes to produce in order to earn more profits.


  • COST OF GOODS SOLD

There is a huge amount of money involved when clothes are manufactured. It becomes very necessary for the brand owner to lower the production cost so that more money can be invested in further processes such as transportation, marketing, and many more.

Fresh brands at its initial stage should not compare themselves to the established brand as they are earning good profits to invest in many things.


  • QUALITY OF THE PRODUCT

Fresh brands must not compromise with the quality of clothes as they are the first priority for every customer. New brands must ensure that they are manufacturing or selling good quality products so that they can attract more customers.

Established brands sell good quality products and this is the reason why they are able to survive in the market.

Quality of the product is one of the factors on which new and existing brands compete.


  • PROVIDING AFTER SALE SERVICES

Customers look for brands or sellers which can provide them after sale services. In today's world, almost every established brand is providing after sale services such as providing free coupons, discounted coupons, and many more. Therefore it becomes little important for new brands to provide some kind of after sale services which can attract a number of customers.


  • FOLLOWING RULES AND REGULATIONS

Government from time to time changes its policies for every sector . There are changes in policies in the fashion sector . New brands must adhere and follow all the new rules and regulations. Because if they don't , they will be punished in the future which will destroy their brand name. Sometimes new policies are made in such a way that helps brands grow.

Established brands follow such rules and regulations to save their brand name in future, because if one needs to survive in the market, they must save their brand name.


When a new brand is established, it tries to increase the it's reach to more customers. But it becomes difficult for new brands to invest money in marketing at initial stages. Therefore one of the ways can be asking for reviews from new customers. Potential customers get influenced by reviews. And if the reviews are in the form of video then it's like cherry on the cake. One of the platforms where video reviews are available is MyRevue app. It provides video reviews of existing customers to many new customers. Potential customers who want to buy new products and brands look here. MyRevue can be very helpful for new brands as it can help them increase their sales and reach to many customers.


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