There were times, when fashion was a term only being associated with either celebrities or rich ladies, now this term is associated with anything and everything available under the sun.
Children too are not spared from the glitterati, all thanks to the media and internet availability, which has squeezed the entire world to fit into a smart phone.
The market was worth Rs 59,520 crore in 2015 and accounted for 20 per cent of the total apparel market of the country. It is expected that kidswear will significantly surpass the growth of men’s wear and women’s wear by growing at a CAGR of 10.8 per cent to reach Rs 1,65,120 crore in 2025.
Kids wear or kids clothing has taken a huge turn in the recent years, not only in cities but also in tier II and tier III towns.
Kids fashion wear is the next booming business standing tall alongside men’s wear and women’s wear.
Here are a few tips to help the budding startup owners and entrepreneurs start a kids clothing retail store:
Identify Your Rivals:
Research, leg work and planning are important steps before establishing or deciding to start kids fashion wear retail store.
Research does not only involve the market study but also identifying the rivals. It demands leg work, dedication and swallows a little more time to know your rival.
Check out all the rival kids fashion wear retail stores within fifteen kilometers of driving radius. Make a list and make sure to visit each store at least once and figure out the ones, which has the most crowds driven towards their stores, because they are your future competition and they already have a good enough reputation in the locality as well as a healthy customer base.
Now visit the rival stores as customers to see the way they deal with customers, identify the strength and weakness of your rival, this will help in making your brand by working on your strong and weak points.
Observe the Crowd
After you are done with observing the rivals’ activities, observe the crowd in that area, especially during weekdays, festivities and weekends.
See if the crowd is only interested in clothing or accessories or both, so that you can plan accordingly to open kids fashion wear retail shop, where you are only going to sell clothing or accessories or stationeries or all under the same roof.
Many customers prefer to buy stationeries or accessories on their way back from office and they buy these products on regular basis.
If the customers belong to up town, then one can also opt to open a chocolates corner, which will keep the children and customer visit the store at least once a day.
Different customers demand different things of differing prices, which is not hard to satisfy the crowd but a thorough study will help in eradicating unnecessary space and wastage of money.
The location is to be decided after keeping the above points in mind. Make sure to find a plot next to any super market or a busy market place, where the crowd is always flooding in.
It is also advisable that open the store near a busy street or in any food court, which is surrounded by the IT parks or any working area. So that people can buy stuffs on their way back from office.
Make sure to open either next to supermarket or right opposite to it, this will also help you in fetching business.
Location should be as such where the crowd is always present be it thin or thick. It will draw customers on its own.