Running a trendy brand can be the dream of many business owners, as being the go-to trendy company can award you a type of cult status. While the benefits of running a trendy business are immense, it is not without its own set of unique challenges. Understanding the right tips is key to building a trendy business that will continue to thrive now and in the future.
1. Keeping Up With the Trendy Cycle
The first challenge to building a trendy business is quite simply keeping up with the trend cycle. The speed of the trend-cycle has drastically increased in recent years; in fact, if you look back as little as five years ago, trends would come and go seasonally. Now, there are new trends seemingly every week. Fast production and access to globalized supply lines mean that it is possible for a business to keep up with the rapidly changing trend cycle.
If you are looking to build a trendy business, then you need to be able to predict the upcoming trends. Since the trend cycles are now moving so quickly, it is not enough to just respond. To avoid owning a glut of obsolete stock, you need to be able to predict upcoming trends accurately.
2. Avoid the Fast Fashion Trap
Trends are a hugely powerful motivating force for purchases, but that does not mean that your businesses should be completely dictated by trends. Studies have found that consumers are actively seeking out businesses that are sustainable. You should avoid falling into the fast fashion trap by creating trendy pieces that are sustainable. This means using environmentally friendly and ethical practices and materials to create pieces that last.
3. Collaborate with Established Brands
Collaborating with established brands is a great way to gain visibility and brand awareness for your business. As Anthem Branding explains, many trendy businesses collaborate with established brands like converse to create their own branded product. This type of collaboration can help you to expand brand awareness and show your company’s trendsetting potential.
4. Build a Trendy Brand Identity
Following trends can only get you so far; creating your own trends will bring your business the cult status it needs to grow and survive. Of course, you will need to focus on predicting trends, but you should also work on your brand identity. If your company name becomes synonymous with being trendy and fashionable, this awards you much more freedom to create long-lasting, sustainable pieces.
5. Curate Your Brand Identity
It is not enough to sell trendy and trendsetting products, but your brand identity needs to embody this too. You should make sure to curate a high-quality, trendy brand identity that will stand the test of time. One form of marketing that is particularly useful when building a trendy brand identity is influencer marketing. To ensure that your marketing is able to have the desired effect, you should make sure to partner with the right influencer, one who represents your trendy aesthetic. You should also choose influencers who are selective about the brands they work with so their endorsement appears more authentic.