Category: Retailers

The Ultimate Guide To B2B Wholesale Transactions

If you stopped for coffee today, you experienced a business-to-consumer transfer of money. In short,it is called a B2C transaction, which is natural when going about our everyday lives. On the other hand, business-to-business, a.k.a. B2B transactions involve the transfer of money from one business to another. In 2019, B2B ecommerce was worth $12 trillion globally and Forrester expects that B2B sales will surpass $1.2 trillion by the end of 2021.

B2B transactions are the norm when running a business, but they are not much like stopping at the local café. It can be a simple purchase but, there are often many components involved such as B2B loans, wholesale orders, and more. But what do B2B transactions look like, and what is the best way to manage them? Keep reading to learn the benefits and challenges of B2B sales, and how B2B wholesale platforms work.

What Can B2b Wholesale Transactions Look Like?

The relationships and transactions between two businesses are referred to as B2B. When it comes to B2B wholesale transactions, two businesses will interact with each other, and buy or sell products in bulk. These wholesale transactions tend to happen between wholesalers and retailers or wholesalers and manufacturers. People usually use the term, ‘business-to-business,’ to contrast with the term, ‘business-to-consumer.’ Generally, B2B transactions are considered wholesale transactions but not every business-to-business transaction has to be a purchase. A B2B transaction can be a line of credit, a revenue-sharing and loan agreement, a promissory note, or anything related to a fund transfer.

B2B Wholesale Transactions – Benefits

As B2B wholesale transactions are conducted between two businesses, the seller and buyer will both benefit. Here are some key benefits of B2B wholesale transactions:

Boost Average Order Value And Order Volume

B2B wholesale transactions boost average order value (AOV). The purpose of the B2B wholesale is to purchase products in bulk, with the seller earning a profit margin. This way, it will not only boost AOV but also the volume of orders over time.

Yield Discounts

As a buyer, you may get a volume discount when you purchase goods from a wholesaler. If you are an individual customer, you may have seen the benefits of a B2B wholesale transaction when you buy products from a wholesaler and get bulk discounts.

Maintain A Fixed Margin Of Profit

Another benefit of B2B wholesale transactions is that they help the wholesaler maintain a fixed margin of profit of about 3 to 10%. A fixed profit margin makes wholesalers less worried about business because the amount of profit they get after selling goods can be calculated in no time.

Lower Operating Costs

The best thing about B2B wholesale transactions is that they help to lower operating costs. To get the word out, billboards or TV ads and printed flyers can be used, and digital marketing campaigns are run from desktops. This affordable marketing helps to reach more business customers, which come with high streams of sales. Websites have become more interactive these days to provide the customers with detailed information about a product, decreasing the need for sales representatives. Customers can even try the product on virtually before purchasing it. These lower operational costs and, coupled with chances of more sales, are a win-win situation.

Challenges For B2B Wholesale Transaction Platforms

B2C shoppers experience the ease of use and efficiency that motivates the B2B buyers, but have different needs. The long-term contracts in B2B ecommerce come with more stability, but there are still challenges of B2B ecommerce sales.

Global Competition

There is no doubt that the world has become a global marketplace. Global competition comes with web exploration, which increases pressure on price and hurts the low margin of profit of wholesalers the most. But if wholesalers expand their footprints across the globe while selling their products at affordable rates, they can boost more profit margin and sales.

Retail Consolidation

The number of wholesaler supermarkets, retailers, office suppliers, DIY suppliers, and home electronic stores has dropped. Now, there are two kinds of wholesalers who are possibly changing the face of the B2B industry: those who will focus on specific niches and excel in them and those who will accommodate diverse businesses to keep growing.

Improve Efficiency

As the B2B wholesale transaction market across the globe is valued $12 trillion and B2B e-commerce sales are expected to reach $1.8 trillion in the USA alone by 2023, the improvement to your organization’s efficiency can give it a great competitive edge.

How B2B Wholesale Transaction Platforms Work

As B2B ecommerce faces multiple challenges, many wholesalers look to other B2B wholesale platforms for optimal efficiency. But how do these platforms work? They have some key features stated below:

Volume Orders And Online Payments

In B2B wholesale, a volume discount is included when you place large quantity orders. These platforms take into account that discounting large volume orders causes businesses to purchase more, increasing sales. When it comes to managing online payments, bulk ordering makes sense.

Availability Of Inventory

In the B2B wholesale industry, the availability of inventory is the main issue. These platforms need to consider the inventory available when logging in new orders. Generally, B2B e-commerce platforms have a map of the available inventory. To maintain efficiency, it is essential to keep track of your inventory in real-time.

Account Management

It is true that business-to-business wholesale transactions can be easily executed. An accountant can help manage company accounts, look at company history to view prices you paid for goods, view how many orders you have received, and much more. Knowing this information leads to increases in the average order value, and helps with future planning to reach the desired customers with the help of B2B wholesale transaction platforms.

Bottom Line

The market share of B2B wholesale transactions is increasing day by day. The value these sales bring over time is huge. At first, doing business in this B2B e-commerce industry seems challenging, but with these tips, you will be a B2B professional in no time.

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7 Strategies That Help Top Fashion Retailers Increase Sell-Through

There is no doubt that the fashion industry is growing, with an expected $873 billion in revenue by 2023. Apparel retailers are always looking for new ways to capitalize on this great opportunity and increase their sell-through rate. There are two main points that fashion retailers are likely to overlook when looking for new sell-through strategies to multiply their ecommerce revenue. First of all, when it comes to ecommerce apparel, traditional marketing strategies will not work. Secondly, you cannot apply generic digital marketing strategies across all fashion brands.

When it comes to ecommerce apparel, the sell-through strategies must be tailored to your goals and needs. We spoke to Patricia Lacognata, CEO of ShopCoutureCo, to gather the best strategies used by top fashion retailers to improve wholesale sell-through and explain why they work so well. Lacognata has overseen huge growth in online sales while distributing shoes, clothing, and accessories of brands from Brazil to the USA for the last two decades. Are you ready to follow in her footsteps? Here are some of her best strategies that are sure to push sell-through:

Take Strategic Steps

You must take strategic steps, overseeing your business operations regularly to determine how and when you should grow.

“We started at the grass-root level and very organically. We had plenty of products that we wanted to sell in the American market and took this venture to the next level. We worked with a PR company that helped us to reach more people via editorial coverage. Our company has been featured in a number of top national news channels and magazines across the country. All these strategic steps boost our brand awareness that comes up with a high stream of conversions.”

Patricia Lacognata, CEO, ShopCoutureCo

Brand Optimization For Special Merchandise

When the ultimate goal is to increase sell-through, do not hesitate to talk to your manufacturers about the feasibility of producing special merchandise, i.e., capsule and exclusive collections. The customer comes to your store for a specific need that you want to be able to expand upon. After discussing the possibilities, make a pitch for collaboration with your retailer clients on special merchandise. Discuss some new style options with vendors to fill a void in the market, and surely your customers will love the new curated capsule collection. But make sure to introduce something that you have not seen on the market. Once it gets successful, you can expand upon it.

Inspire Impulse Purchases

According to a survey conducted by Finder, around 85% of people in the US have succumbed to the enticements of impulse shopping. It is said that a person spends more than $80 on impulse buys on average per shopping trip. Around 80% of these sales take place in brick and mortar stores. Placing small items that are cheap at retail checkout counters can significantly boost your sales. All you need is to make sure that these products are not expensive and complement the other products and fashions sold. For instance, try placing hair accessories, makeup, and costume jewelry near the checkout counter.

Create Personalized Line Sheets And Share Them With Retailers

In this digital world, staying ahead is not as easy as it seems. You need to know how to entice customers in an interesting way to boost your sell-through ratio. When it comes to online apparel platforms, create personalized line sheets that cater to the specific needs of the retailers. 

Ensure All Stakeholders Have The Same Vision For Success

With the aim to achieve an optimal sell-through ratio, it is crucial to choose the right partners. Your major stakeholder should have the same vision for success when scaling your business. 

“I have been careful about choosing the partners that are committed to the bottom-line focus of my company. My company’s goal is not only to increase profit but also make a positive impact on society through fashion. The more profitable our company is, the more we can make a positive impact on society. That’s why it is necessary to pick the right partners and get them on the same page.”

Patricia Lacognata, CEO, ShopCoutureCo

Track Key Data Of Top-Performing Categories And Share With Retailer Clients

There are some categories that buyers most engage with on apparel ecommerce platforms. Tracking this real-time data will help to analyze some unseen factors to find the gaps in your purchases and understand when and where it is possible to grow. This helps to measure sell-through as well. Share this visually focused data with current and potential retailer clients. Once you have forecasted trends, you can understand the demands for new products or features and make sure to deliver on that demand.

Analyze Data And Improve Constantly

It is true that physical retail stores are being challenged every day by new ecommerce apps and platforms. This can be a main reason for reduction in sell-through ratio. In this case, it is essential to continuously improve selling skills. When analyzing real-time data, understand that customers are the center of any apparel retailer. For this reason, you need to ensure that you engage with your customers and build a relationship first. This will allow them to trust your recommendations. Be more interested in why they came into your store rather than what they came in to purchase. This will improve your sell-through ratio in the long run.

Bottom Line:

There is no magic formula to increase sell-through in your brick and mortar or online retail store. You will have to find and experiment with strategies adopted by fashion retailers that work for your business to help multiply revenue. Do not hesitate to test these strategies that are sure to help in raising your retail sales. After formulating the in-store sales strategy, expand upon it and sell on multiple channels like Instagram, Facebook, and email marketing promotion.

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5 Tips to improve B2B and B2C ecommerce pricing strategies

It is not easy to maintain and survive in today’s market where a new competitor is arriving every other day. Customers, be it direct or indirect, are hard to keep loyal to a specific brand when offered several options at competitive prices. As a customer, you must have experienced a time when the features of a competitive product caused you to change your mind when making the decision to purchase the product.

One of the most significant factors that stimulates customers’ buying decisions is budget, i.e., the pricing offered by the company. A customer evaluates a product based on the quality and durability offered within the budgeted price. However, the product offered by any company includes several other costly components such as marketing cost, salaries of staff, rental and holding cost, etc.

With so many costs included, it is challenging to offer the customer a convincing price to hook them onto the product and generate consistent sales. To address such challenges regularly, suppliers need to fabricate strategies for pricing to facilitate B2B and B2C customers.

Tips for improved B2B and B2C eCommerce

For sure, the 20-80 rule prevails for many suppliers in the market, but is not enough to rely on for the business overall. Out of numerous pricing strategies like economy pricing, premium pricing, psychology pricing, etc., you may adopt one or a combination of some that suit you best.

Choosing the best competitive price that covers all the incurred costs along with a reasonable profit margin requires specific practical strategies. Here are five tips to construct enhanced pricing strategies.

  1. Market Prices

Keeping a regular check on the market prices offered within the industry is essential. B2B customers are well aware of pricing when making wholesale purchases, and are even offered special discounted prices from sellers. 

Loyal customers, including both B2B and B2C, may agree to pay higher prices for an added value on products. However, keeping them hooked on your product in the long run requires a continuous evaluation and comparison of the competitors’ pricing.

Research for the competitive price will extend based on the line of products you are dealing with. For example, research will vary for different collections if you are selling clothes or shoes, i.e., casual, formal, fusion, etc.

  1. Wholesale Price Effects

Not all companies can afford or practice forward or backward integrations to support their products and services. This interdependency for business on other business results in B2B business, and contributes to a significant amount of profitability when making wholesale sales. Direct customers, i.e. B2C customers, contribute in relatively smaller amounts. However, their purchases are often more frequent than those of B2B customers.

For offering the best competitive prices to your B2B customers, research will also be needed to review the pricing offered within wholesale markets. This practice of reviewing the wholesale market will enable you to attract retail customers by offering the best possible prices.

  1. B2C Customers

Direct customers, i.e, B2C customers, contribute relatively smaller amounts to your profitability; however, their number of purchases is multiple to that of B2B customers. It is crucial to understand the current trend prevailing in the retail market. The dynamics of the fashion industry are constantly changing. These changing trends depend on various factors that include climate change, cultural inheritance, modern needs, etc.

These retail customers’ needs vary throughout the year, affecting their preferences and ultimately their desire to pay for a specific product. Offering discounted prices and other loyalty campaigns are ways to attract B2C customers during these seasons, i.e., marriage, Christmas, New Year’s Eve, etc.

Remember that sentimental values are often associated with purchases to price the product at an amount that factors in the emotional value experienced by the customer. Therefore, value-based pricing is one way to improve your pricing strategy to increase product sales periodically, if not permanently.

  1. Dynamic Pricing

Not all products can be offered at the same price throughout the year. Raising prices during peak purchase seasons may work for some sellers, while other sellers grab the attention of the customer during seasons by offering reduced prices on products. These discounted prices attract large volume purchases, creating a win-win situation for sellers and buyers, and eventually profitability.

However, pricing products can also be profitable when calculated by carefully analyzing and managing data that shows customer purchase behavior. Customers’ needs, including when they purchase, how much they are willing to pay, and when the product is purchased, change throughout the year. The decision of pricing your products differently requires additional efforts that should be supported with reliable data obtained from both internal and external sources.

  1. Optimizing Channels for Selling

Recognizing the power of eCommerce is key. Customers worldwide have numerous choices today at their fingertips, making them unwilling to deal with the hassle of visiting physical stores. Why waste effort and time when you can have the product directly at your doorstep within a few clicks?

Ecommerce has created numerous opportunities for businesses and dramatically helped sellers reach their focused market without worrying about physical distances. Within the extended market, sellers need to cater their pricing strategy to many geographically scattered markets with competitive pricing.

Customizing your business process to support discounts or offering special prices may help your pricing strategy. This can be done through proper planning and investing in digitalization which is a common but challenging practice today. 

The integration of eCommerce into your pricing strategy empowers the customer to self-serve in many cases. With this ease of shopping, customers often do not mind paying a little extra for the convenience of obtaining the item without leaving the house.

Bottom Line

Pricing strategies are numerous for both B2B and B2C customers. For B2B, a seller needs to analyze the size of the business, which usually has recurrent customers with long term business relationships and sales cycles. On the other hand, B2C customers tend to have different purchase behaviours throughout the year.

Choosing pricing strategies that cater to the customer and obtaining credentials for profitability is a challenge in today’s dynamic market, but can be done using the business tips above.

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How to Improve Your Boutique Sales

The biggest challenge small businesses such owner of a boutique or a flower shop face is attracting customers. Are you struggling as well? These competitive digital times call for taking timely measures to stand out from the crowd; otherwise, you would be buried under the competition or be just another business that closed because it couldn’t meet the expenses.

So how do you boost the sales of your boutique? These tips can help:

Know Your Customer

This should go without saying. Knowing your customer is the key to success. It’s impossible to sell something if you don’t know whom you are selling to.

Knowing about your customer helps you set business goals and develop an effective marketing plan. Do not make key decisions based on guesswork. Spend time on identifying the target audience and study customer behavior.

Create a Virtual Store

Hands down, in 2021 and beyond, it’s impossible to skyrocket your sales based on a physical store alone. In case you haven’t, it’s high time you consider going virtual. In fact, there is no harm in closing a physical store and completely selling your products online. This could save your business so much cost!

Use the Power of Social Media

Social media channels like Facebook, Instagram, Snapchat, TikTok and others are powerhouses for marketing your products. The new generation that you would probably be selling your products to is crazy about social media. They even shop via social media! Therefore, it’s absolutely mandatory to create a social media presence.

It’s important, however, to focus on those social media channels that your target audience loves. Then, focus on organic and paid marketing techniques to attract the audience and then drive them to your website for boosting sales.

Understand What Motivates Your Buyers

Invest the time in learning what motivates your buyers. This includes learning their challenges, needs, fears and concerns. While learning about your customers, also educate them to help them move down the sales funnel.

A customer makes a purchase when he has a need. So as you understand your customers’ needs, solve it, and you will have a much chance of converting them into a lead.

Identify the Objections in Sales and Overcome Them

Many businesses fail to realize that objection is an opportunity. Objection is a sign that a buyer was engaged, but something happened because of which they didn’t complete a sales. What you must do is identify these objections and find a way to overcome the.

Let’s check an example.

You are too expensive. In this case, compare your prices with that of your competitors. So many your product is really priced higher. Does it mean you should lower the price? No! Instead give more. Present them with facts. Most customers want a combination of quality, unique design and wonderful services. Take this as an opportunity to define your strengths. Tell your customers what they are receivers and what value does the product bring to them.

Sell Diversified Pieces

Another way to boost sales and stand out from your competition is to sell diversified pieces. Why not strive to become a boutique that sells exclusive apparel or clothes from international brands?

Finding such exclusive yet diversified pieces isn’t that hard, you know. Check out ShopCoutureCo. It’s an American company and the largest western fashion supplier that can help you bring all the trendy fashion wear made from the best materials to your boutique.

 Train Your Staff

Your employees must be knowledgeable enough to assist the customers in completing a purchase. Certain tactics can help your staff in serving the customers and improving retail sales performance.

Did you know that speaking to your customers at an angle instead of straight on makes them feel more comfortable? Another way to make them feel welcomed is to use their name in the conversation. In other words, tell your employees that greeting the customer and assisting them should be considered a priority.

While training your employees, the most important lesson to teach them is to think like the customer. That will help them deliver an impeccable customer experience.

Always Have Hands-On Inventory

One thing that a customer hates is a boutique or a store that’s always out of inventory, whether it’s online on in-store.

To keep your retail business running, make sure you manage the inventory. Use a modern POS system for managing your inventory. That way, whenever a customer makes a purchase, the number of items left in the stock is updated automated. The software notifies you whenever you are about to run out of a product, especially if it’s a hot-selling item.

You won’t ever have to apologize to a customer that you are out of stock and ask them to come back again in a few days.

Offer a Loyalty Program

A highly effective way of bringing old customers or entice a customer to make repeated sales is by offering a customer loyalty program. This program allows you to stimulate repeat business by providing rewards to customers as well as better deals so that they spend more money.

There are many ways to go about a loyalty program. You can either offer a rewards card or send them discount coupons via email or snail mail to keep them coming back for more.

Keep Up With the Trends

In the fashion industry, trends change like behavior. What worked yesterday may not work together.

You don’t want to be using outdated marketing efforts, right? This could damage customer experience and cost you so much money.

Stay head of the trends by knowing what’s happening in the world of fashion. Marketing techniques change as well, so you must keep an eye on the latest marketing trends as well. Similarly, know what your competitors are up to and strive to be better.

Conclusion

Driving sales is no easy feat. It requires a lot of hard work and research. But with the right techniques and some trial and error, you can successfully retain old customers and bring new ones to your boutique.

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Dropshipping – The Fashion Retail Trend

In the current post-COVID scenario, many businesses are adopting new features as well as technologies for survival. Some are forced to change their business model. The retail fashion industry is one of them. Brands have started giving importance to online presence. But there’s another trend taking over called dropshipping.

Dropshipping allows you to sell your products without keeping them in stock.  Did you know that the global drop shipping market size is expected to reach $557.9 billion by 2025? The rising inclination of customers towards online shopping coupled with internet users’ proliferation has positively impacted the market growth. The most admirable quality of dropshipping is that eCommerce companies are not limited to the country’s internal boundaries. You can even sell and deliver products across borders.

Opening an online store without hassle – no inventory, no packaging, and no shipping is everyone’s dream. Why would you want to miss out on this trend? Macy’s has set a great example of being the early adopters of the dropshipping trend. The retail giant has used this practice for broadening its online assortments and delivering items like fashion apparel and even appliances that take up large amount of space in their warehouses and stores. 

Compelling Reasons Why Dropshipping Is the Future

Check out these sustainable reasons that explain why dropshipping is the future:

1: An Opportunity to Spend More on Marketing

A traditional retail fashion store requires a huge storage room to store the inventory.  Storage is a huge expense for small retail businesses, and dropshipping solves that problem effectively.

Rather than worrying about keeping the stock and maintaining it, you can focus on your boutique or fashion retail store’s marketing. Another cool thing is that you never run out of stock!

2: ShopCoutureCo. Handles the Shipping

Dropshipping is so much easier. Not having to keep an inventory is one advantage. Another one of its many benefits is that the product is shipped to the customer on your behalf. This means the ShopCoutureCo. handles the shipping. You don’t have to pack the items in the box and ship the package. What a way to save money, right!

3: The Flexibility

If you have ever wished to start a business alongside your 9 am to 5 pm job always stopped because of hassle, dropshipping is the answer.

It gives fashion retailers the flexibility to start their business alongside their jobs. Plus, you can turn a dropshipping business from anywhere as long as you have internet.

Don’t forget it’s important to communicate with your suppliers and customers to run and manage the business successfully. You won’t have to rent extra space to start the business. You will be able to balance it around current commitments without the fuss.

4: More Products

Customers like a fashion retail brand that has all the exclusive fashion wear in store. It’s hard to keep a large variety in a physical store. Overall, it’s a costly affair. The good news it’s so much easier to manage things in dropshipping.

Since you are not stockpiling products, you have a lot more choices. Space and upfront costs are no longer the issues. So sell clothes, accessories, shoes, and any other fashion wear you like to make your retail brand stand out.

5: Scaling is Easier

Let’s say you want to take things slow and start with a few products only. As months go by and you receive great response from customers, it makes sense to expand. A dropshipping business is easier to grow.

So can grow your business without hiring extra staff or incurring extra cost. Scaling is quicker, easier, and less expensive than a traditional eCommerce store.

6: Increased Use of Mobile Devices

Smartphone users are increasing. Even our grandparents, who said they would never use social media, are now on Facebook.

Since technology is progressing and mobile devices have become mainstream. The older generations are following the suit of millennials. In other words, your target audience is mobile dependence. This is a sign for online entrepreneurs to create a digital presence.

Starting a dropshipping fashion business lets you be where your customers are – on their mobile devices.

7: Shorter Delivery Time

Remember when it used to take 2 months when you ordered something from AliExpress? We all used to wait because the prices of the products were low.

In today’s competitive times, a customer doesn’t want to wait. Thanks to the dropshipping business, you can deliver them their favorite fashion items in a short time. Hands down, your customers will prefer buying from your store because you care about offering speedy delivery!

How to Find a Supplier for Starting a Fashion Business?

If you are reading this section, you must be convinced to start a dropshipping business. But how to find a good supplier?

Check what fashion brands are available at ShopCoutureCo. You will find many Brazilian suppliers are available, including Agali accessories, Iodice, Lanca Perfume, Morena Rosa, etc. Wouldn’t it be great to find all fashion wear under one roof to be able to start your business from the comfort of your home? It’s recommended to do thorough research on a supplier before deciding to work with them. Checking out reviews and ratings will help.

Make a list of 5 to 6 potential suppliers you would to work with and start contacting them. After doing all the legwork, you would be left with 2 to 3 good options. See if they let you place a sample order. It’s absolutely important to test the quality of the suppliers’ products before working with them.

Conclusion

Dropshipping, the fashion retail trend, is not a fad. It lets you avoid taking great risks yet pursue your dream.

You don’t need huge investments either. The dropshipping business is not a fad. It’s here for a long ride, and 2021 is the best time to start your fashion website.

Of course, the competition is high, but if you can bring exclusive fashion products and put customer care at the center of everything, you will drive sales successfully.

In order to be successful, sell the fashion times that customers want, not need.

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Best Brands in the World at Your Fingertips via Digital Tradeshow

Last year, so many trade shows were canceled due to the pandemic; however, the desire among retailers and suppliers to connect remains strong. COVID-19 continues to impact various industries, and the fashion industry is no different.

Businesses are slowly opening in some parts of the world but by following safety measures. The apparel industry is back to business as well, but not like usual. Now, producers have launched virtual shows, and leverage video communication and social media to connect with their audience.

Trade shows have always been the most effective marketing technique. The face to face networking opportunity with the customer and brand is beyond compare. If it’s done right, you may call it the goldmine for lead generation. The pandemic has breathed fresh life into trade shows by making them go digital. In other words, a customer doesn’t have to leave their house to interact and engage with your brand. The digital tour takes them everywhere!

The Pandemic is Driving Change

Fashion creatives are well aware of what they are missing, the emotional and storytelling impact of fashion shows. But they had to open their eyes to new alternatives. It is pretty much how football teams adjusted to the reality of empty stadiums. The fashion industry has to adjust to the displaced realities.

The pandemic is still an awful stage. However, it has forced people to step away from the treadmill and address how they want to express themselves. A lot more needs to be done to display a collection rather than a catwalk.  The concept of catwalk shows was invented in the 1940s. Today, the fashion industry is a whole different beast.

It was amazing how Knight created a CGI avatar of the beauty Kendal Jenner, for Riccardo Tisci. The advert starts with Jenner photographer herself and Knight creating a digital body with a model in a motion capture suit. There was a minimalist background.

Brands tapped into AR, animation, VFX, and CGI to give the audience a new digital experience when it comes to fashion. The digital reinvention of fashion shows is now considered a viable alternative to physical shows and shoots. It’s also friendlier to the planet. It is believed that COVID-19 has accelerated the dawn of the 4th industrial revolution in many industries, and fashion is one of them.

Top Virtual Event Platforms Bringing Brands and Buyers Together

Thanks to virtual fairs, customers have been exposed to retailers from all over the world. These are some top digital trade shows bringing all the best brands are now at your fingertips:

Coterie Digital

It’s a community-oriented platform that organizes digital trade events and connects fashion brands and buyers via a centralized event. The participants will have the option to explore a range of designers and labels featuring contemporary women’s apparel accessories and footwear.  You will also come across some merchandized communities and international pavilions in one centralized place. 

Swimshow

Swimshow is another popular commerce platform connecting brands, retailers, designers, and buyers. This platform enjoys a great reputation for building relationships by connecting buyers and manufacturers locally, nationally, and internationally.

Swimshow normally features more than 25k lines and 75k buyers, featuring beachwear, swimwear, lifestyle, and other accessories.  

Magic Digital

Magic’s Digital trade events have been offering brands exposure to the global retail audience via a centralized yet digital marketplace. It has allowed retailers to build an engaging brand story using this customizable B2B eCommerce platform to reach the right buyers at the right time for lead generation.

MICAM Americas Digital

It’s another destination to bring global footwear brands and designers in one place. Along with a wide selection of products from different brands, the participants can discover shoppable editorials, educational sessions, and several other business resources.

 Videos Matter More Than Ever

Personalized videos for sales and marketing were a critical component of the digital marketing strategy of businesses even before the pandemic. Now that most people are quarantining and businesses are respecting social distancing boundaries to contain the spread of the virus, the virtual experience is more crucial.

According to Verizon, when COVID hit, streaming increased by 21 percent. Now, videos are considered a highly imperative aspect of online sales. Video conferencing platforms like Microsoft Teams and Zoom have made it easier to connect with others, communicate, collaborate, and even host events.

For brands that were used to meeting their customers in person (such as the fashion industry itself), investing in videos is the way forward. Organizing digital tradeshows is one way of doing that. The digital event allows the buyer to connect with their favorite brand and examine their collection with a 360-degree view to feel the texture, design, stitching, and more and make a purchase. All this is happening without leaving homes. Who would have thought that you could check the latest collection of big brands via a virtual event!

What’s The Future of Virtual Events?

Virtual events are definitely economical when it comes to connecting with the audience. To some extent, these events provide brands with a log of attendee interests and trends, which could help them steer their marketing efforts in the long run. Some experts say that logins are equal to marketing leads. Others say the value of staying on top of a customer’s mind cannot be replaced. Both are facts!

Now that the geographical constraints have been removed, there is less friction. Notable speakers from brands are also committed to a video call instead of traveling to attend a conference. The attendees don’t just remain seated, they are engaged as well.

Virtual events do have some limitations. For instance, it’s hard to replicate the energy that comes from in-person experiences. Customers have a limited attention span, the programs need to be snap and to the point. With greater audience and brands as participants come greater responsibility.

Most events are delivered live, but participants would also like video-on-demand archives. Virtual events may not completely replace physical events, but they will certainly complement them. Digital trade shows like these will continue even after the COVID-19 pandemic is long gone.

ShopCoutureCo. believes in the Phygital concept, would you like to schedule a virtual visit to meet our showroom? Click Here

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