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Clothing stores (boutiques) can be strictly designer based (i.e.only one designer’s collection is sold there), or they may sell a mix of designers’ labels (brands) that are specifically catered to the local market.This is one of the reasons why a business such as a clothing store or a boutique as some folks would want to call it, are in existence.
Therefore, the clothes move from the manufacturers to the consumers.
In between there are [people who are mainly the ones who go between the manufacturers and the consumers.
Players in the Clothing store (Boutiques) industry are defined as having only one location and typically focus on providing high-end or niche products to consumers.
Changing fashion trends and of course consumer well-being is essential to industry growth because products are generally more expensive and rely on consumer discretionary incomes.
As a result, the start of the recession and its lasting effects on the US economy hurt industry performance.
Per capita disposable income fell as many individuals lost their jobs; accordingly, consumer confidence plummeted and consumers cut spending, causing the industry to contract in 2009.The clothing store (boutique) Industry revenue has since recovered; however, the industry is facing more stringent competition than ever before because of a rising number of imports and consumers’ shift to online shopping et al.The clothing store (boutique) industry is indeed a very large industry and pretty much thriving in all the parts of the world.If you keep tabs on the clothing store business and retailing business generally, you would have noticed that It is now a common phenomenon for retail outlets to leverage on technology to effectively predict consumer demand patterns and to strategically position their store to meet their needs; in essence, the use of technology help retailers to maximize supply chain efficiencies.No doubt data collected from customers goes a long way to help retail stores serve them better.Statistics has it that in the United States of America alone, there are about 31,615 legally registered clothing stores (boutiques) responsible for employing about 65,810 employees and the industry rakes in a whooping sum of bn annually.It is important to state that, there is no company with a dominant market share in this industry. If YES, here is a complete sample online clothing store business plan template & feasibility study you can use for FREE.Okay, so we have considered all the requirements for starting a clothing store.Another common trend in the retailing industry of which clothing store falls under is the pricing system.Aside from having varieties and quality of the items in a convenience store, one of the easiest ways for players in this line of business to sell the items on their racks as fast as they can and keep re – stocking is to ensure that the prices of their items are a bit lower than what is obtainable in elsewhere.