Fashion Retailers often see their website as the only way to sell. They ignore the potential marketplaces that have to drive sales and give them much-needed cash flow as a start-up. Whether you are a small business or an established fashion brand looking to either expand your reach or test international markets, the online marketplace is for you.
Benefits of Fashion Marketplaces
Fashion marketplaces can not only help you move huge volumes of inventory but also gain brand exposure. For example, marketplaces invest a lot of money to acquire traffic from various sources. What they need are products that their customers would love to buy. So, if you can provide the products that the customers on their website would like to buy, they will divert their traffic to your products by featuring you on their homepage, up-selling sections such as related products and emails.
This, in turn, can help you build brand authority as it’s much easier for you to catch media attention when present on such marketplaces. Having a marketplace can be an effective way of reaching out to a larger audience, beyond your current reach on Social media and Google, without burning a hole in your pocket by investing in building a website and social media presence upfront.
Here are a few more reasons why you should list your brand on Fashion marketplaces
You can generate sales without investing in building a website.
- You don’t need to invest in building a social media presence as the marketplace will do it for you.
- It helps you to make your brand omnipresent because marketplaces have a larger target audience and a widespread reach.
- You can collect product reviews and feedback from customers to improve your products.
- Marketplaces make heavy investments in PR, so you have high chances to get featured by Fashion magazines, and media companies.
- Marketplaces can also help you with new customer acquisition.
Many fashion retailers only think of eBay or Amazon as marketplace options, but there are so many marketplaces available to showcase your product without diluting your brand. Let’s explore some of them.
1.NOT JUST A LABEL
NOT JUST A LABEL is a global sales platform for showcasing today’s fashion brands and has already provided a sales platform to over 30,000 designers. At NJAL, designers can gain exposure at no cost and can independently finance their progression as there is no fee for designers. They receive brand development and business support as well as promotion, education, mentorship on everything. From public relations, marketing to manufacturing support and legal advice, everything is taken care of. NJAL has supported many designers to evolve into established international labels. Mary Katrantzou, Damir Doma and Rad Hourani are some labels that wrote their success story with NJAL.
NOT JUST A LABEL has recently introduced a membership program that will provide access to its new e-commerce platform, which directs visitors back to a designer’s personal online store at no commission.
Nineteenth Amendment is a unique platform where designers can create and sell their work at a pre-order policy. Shoppers can place an order to buy an item at a pre-purchase price. They provide shoppers access to exclusive fashion items, made just-in-time, and at a major discount. All the orders are manufactured on demand with partner manufacturing facilities across the US and Puerto Rico. Their proprietary technology makes this business model possible. They emphasize on reduction in inventory costs for quick-turn production and on-demand retailing. With the presale model, there is no waste and the designers don’t get stuck with inventory they can’t sell. This makes Nineteenth Amendment ethical, sustainable, efficient, and all-around unique fashion. They have 4 different plans for designers to choose from depending on their personal requirements.
ASOS Marketplace launched in 2010 with just 20 sellers and since then it has become the leading online platform for independent brands and vintage boutiques. Today, they have over 800 online boutiques from all over the world, with a wide selection of clothes, shoes, and accessories, for both men and women. A 10% selling fee applies for each item sold, with no listing fees or pricing menus. Boutique owners pay £50 per month (which includes being given an account manager by ASOS, the ability to customize a storefront and a premium listing on Marketplace) and a 15% fee on each sale. The Marketplace has also proven to be pivotal in unearthing new design talent for the ASOS website. It is especially a great platform for smaller vintage brands.
Carnet De Mode
Carnet de Mode is an international marketplace that provides a ‘unique’ selection of fashion items. It was started in Paris and talented designers present their ready-to-wear and accessory collections—garments, shoes, leather goods and jewelry with this marketplace. CDM has set out to solve the problem of finance for production, as well as communication and marketing. Most emerging designers don’t have an online presence or an e-shop and customers don’t have access to them and can’t find original and unique pieces. CDM is solving this by offering designers a platform that gives them a customized online shop to present their collections. It is also offering to manage the sales and logistics for designers worldwide. They provide a risk- free model and only take a commission on the sales they bring to you on Carnetdemode.com. The setup, e-shop, and exposure are free.
Lyst is a global fashion search engine that is bringing together 5 million products from the world’s 12,000 best brands. It was the first to launch a universal cart in the fashion industry, which enabled shoppers to check out from multiple retailers in a single, unified checkout. It has a huge selection of brands and buyers can find a 10$ dress to a $30,000 dress on Lyst. They use extensive data to help the fashion industry discover key insights about shopping trends. Buyers can search for designers, products, colors, and specific search terms to find exactly what they are looking for on the website. In order to get featured on the website, there are a set of requirements that a brand has to comply with. Brands can apply directly on their website and their team will take care of it further.
Poshmark is another marketplace where people can buy and sell fashion products from boutiques or their own closets. The marketplace has made a community of 4 million sellers over the years. It is a widely used marketplace and the company has recently paid out $1 billion to its community of sellers. Poshmark is actually similar to social media websites and has a community feel to it. You like, share, follow; and the more you engage, the more likely you are to make sales. To be able to list your products, you will have to download the app, set up a virtual shop, add pictures and prices. Once you make a sale they will provide you with a pre-paid, pre-addressed label ready to be put on the box. You just have to drop it off at a USPS mailbox or even have it picked up for free from your home. They have made the shipping process easy, and Poshmark also collects data on shoppers to offer personalized suggestions, and individual stylists to make fashion recommendations.
7. eBay & Amazon
eBay and Amazon are the pioneers of online shopping. They were the first few marketplaces that were launched. eBay, is not just for buying or selling but also reselling second-hand products. With the help of eBay integrator, you can also auction goods across 30 countries.
In fact, Sophia Amoruso, the CEO of NastyGal started her vintage/thrift shop on eBay in 2006 and had 550,000 customers. She later went on to have a full-fledged brand ‘NastyGal’ and her revenue skyrocketed from $223,000 in 2008 to $23 million in 2011. She even wrote a book about how she started with a small online shop on eBay and went on to become an established brand. Her success story was also turned into a TV show on Netflix.
Amazon, on the other hand, started as an online bookstore and now the marketplace sells everything from fashion to home decor to everyday essentials.
Amazon is now investing a lot of resources in building itself into a fashion destination. They launched a ‘prime wardrobe’ service, where they were giving shoppers a week to try out clothes before paying for them. A virtual trial, where people can virtually try on clothes before buying them was also in works to make the shopping experience easier for the customers.
Other specific marketplaces
Of course, this is not an exhaustive list. There are plenty of other fashion marketplaces where you can go to sell your Fashion products, such as:
Zel0ra – it’s a great marketplace if you’re an Asian brand
Furthermore, there are many Fashion marketplaces particularly for Sustainable Fashion brands, such as:
- Kindred Black – Contact them if you’re an eco-friendly luxury brand at [email protected]
- TheGreenLabels – Contact them if your brand aligns with their featured sustainable brand, such as these.
There are benefits when you sell your products on Fashion marketplaces, but you have to be careful while choosing a marketplace to sell your products. Before you make the decision you should consider things such as traffic, listing optimization process & methods, fee structure, marketplace support, rules, and regulations, etc.