As we all know due to the outbreak of Covid-19, our world has turned upside down. Our work from the office has changed to work from home, our travel plans have been postponed, our family or work meetings are both mostly virtual. Businesses have slowed down and lessened the revenue.
But there is always a silver lining for every situation, nationwide lockdown has created a gap between the sellers and the customers, making the sellers look for a solution. And the best solution would be to take the retail business online and start an eCommerce store.
The textile industry has turned the pandemic crisis into a huge opportunity for a booming business. The Indian textile industry has contributed around 2.3 percent to India’s GDP, 12 percent to export earnings, and 13 percent to industrial production. On top of that, exports of readymade garments were around US$ 1.04 billion (as of November 2020).
As we all know, garments are one of the key necessities of a human being, after food. That is why even in the lockdown online textile industry had flourishing sales. Right from selecting the item to trying them, paying for it securely, even the convenient item return policies have made consumers so comfortable purchasing the products online.
It is a prediction by many industry experts that this trend will increase day by day and will definitely give birth to many online retailers Unicorns.
In this article, you will get to know all the steps that one needs to start an online textile business. Whether you are a beginner or you already own a business in this industry and want to have an online presence, we got you covered.
1. Do Some Ground Work and Research Your Market
You need to start first with the research work, to start an online textile business. Target some specific group of people defined by their demographics. Targeting everybody can lead you to a lack of inventory and confusing marketing.
You have to go for KYC – know your customer. Thus, picking out your target customer is what you need to do in your primary stage. While researching you should keep in mind your competition, product, and the offering of the future market.
Know that you have to start with a special group of the target audience and then expand it with time.
2. Write a Business Plan and Start-up Capital
A business plan is a road-map of the various aspects of business that defines your ultimate business goals and the process to achieve them. The variables of your plan will depend on the prototype you choose, whether it is wholesale, retail, or simply drop-shipping. Decide the sourcing, how, and when of your materials.
You can even source ready-made garments in large volumes and sell those garments through online websites. While making a business plan you will also get an idea of a number of people you need to hire for the business. You can buy a business plan if you need.
This way you will get a clear view regarding the requirement of capital that will tune with your business model. You can raise the capital through your savings, bank loan, loan from friends/ family, or from some third party.
3. Define Your USP and Decide on the Brand Name
The USP (unique selling point) sets you way apart from your competitors. It is the significant plus point that will help you to take over your target market. You need to define your USP or else your brand will be lost on the online web.
A USP can be anything – like a special material that you use, or some special design that no one can copy, or a specific customer group that you are targeting, anything that makes you different from everyone. Later flaunt your USP, and let the world know what WOW factor you are offering them.
The next thing after defining your USP is to decide your brand name. This will be the name people will remember you with. It must be catchy, easy to pronounce and remember, and most importantly resonate with your USP. Make sure it’s available for Business name registration and domain name for the website.
4. Choose an eCommerce Platform
As you have decided to sell your product online, you need to choose the eCommerce platform to take in selling online. This online storefront will link your store with potential customers.
While there are lots of platforms that will be ready to provide you the service, you need to gauge the opportunities and obstacles for each. You can check out the websites of your competitors and other big brands to get an idea for the same.
Make sure the eCommerce platform has all the must-have characteristics that you need for your online business. It should be easy to use with no confusing UX and most importantly it should be safe and secure.
5. Get Your Domain Name and Create a Website
There are many hosts on the internet that can provide you with your domain easily. Make sure to get it registered for a trademark to avoid any legal issues in the future. It makes good business sense to go for additional domain endings like .com, .in, .net, and other such endings.
This would make sure that customers land on your website even if they forgets your domain name. Remember to get SSL (Secure Sockets Layer) certificate from your host
Building a website gives you the advantage of accepting orders at any time of the day, providing real-time assistance, and showcasing all your creativity in one place. You need to choose what kind of website you want for your business – either a one-page website, online brochure, or proper eCommerce website.
You can simply hire a team or outsource your work to the agency that will help you with all kinds of online support you need to run your online business.
6. Promote Your Business ONLINE!
We are living in the age of social media, where most people start and end their day on social media. It’s basically everywhere, hence the best place to promote your business. Come up with different strategies, campaigns, taglines, and hashtags.
Follow what’s trending and make your content around it, it increases your chances to go viral. Social media marketing needs a great deal of planning and execution in itself, but it will surely help you with your business profits.
This was all about how you can start your online business in India. There is enough room for everyone to start, and the ones with the USP will definitely earn recognition among all online businesses.
2 thoughts on “How to Start your Online Textile Business?”
Excellent and fascinating content! Useful and appropriate information too, Thank you.
Yes covid did make harm in business. I believe in 2 years everything will be forgotten.