London Fashion Week (LFW) is one of the biggest dates in the global fashion calendar, bringing together 250 designers and orders worth £100 million in February and September every year.
Such a big event might seem a long way from small, independent fashion retailers, but there’s a lot to be gained from paying attention to what’s happening on the runway. Independent fashion stores saw a 24% boost in profits during September 2018’s LFW, and you could be enjoying a share of that.
1. Trends influence what people buy
Just like fictional magazine editor Miranda Priestly said in The Devil Wears Prada, runway fashion influences department stores and high street retailers. What the models are wearing at this year’s LFW will be what your customers start looking for in the coming weeks and months.
Keep a close eye on the trends that will translate well for your brand and to your customers. This will inform what kind of stock you invest in as seasons and stock changes and give you a head start with wholesalers.
2. Customers are looking for sustainable fashion
The fashion industry has been heavily criticised for its wastefulness and carbon footprint. This year at LFW, Mulberry will be kicking the week off with “a three-day programme of events themed around its commitment to sustainability”, and the Positive Fashion Exhibitionwill be confronting fashion’s ecological future.
If your fashion retail business is making positive steps towards greater sustainability, make sure your customers know about it. Push sustainable collections, talk about your ecological practices, and advertise stock that helps your customers feel more proactive about the environment too.
3. Fashion is experiential
Buying clothes can be utilitarian, but many shoppers make purchases because they enjoy expressing creativity and personal styles through clothing; everyone has different preferences. This February, there will be events celebrating and showcasing Canadian design, up and coming brands, sustainable designs, and more.
Keep an eye on the different shows and think about which items and styles will appeal to your clientele. Pay attention to the details and start introducing them to your shop. Coral pink is set to be big in women’s fashion this Spring Summer, would that appeal to your audience? If so, start demonstrating how it can be worn and what it can be matched with using mannequins; inspire your shoppers.
4. Influencers are a powerful fashion marketing tool
Fashion Week attendees used to be people in the fashion industry and the press, but now fashion influencers are just as likely to be on the guest list.
Influencers can reach significant audiences in terms of both size and readiness to buy. Your local area and existing customer base will have its own ‘micro influencers’ – people with smaller followings but who still have a lot of influence. Getting in touch with them and striking up a sponsorship deal, or even giving them discounted items to post on their Instagram, will create buzz you can’t get elsewhere.
Make London Fashion Week a success for your fashion retail business
You can raise £3,500 to £3,000,000 with Capify, and give your retail business a serious promotional boost. Spend it on engaging with influencers, social media campaigns, new stock – anything that will help you cash in on the hottest week in fashion!
Repayment is easy and affordable with a Capify Merchant Cash Advance. Every time one of your customers pays with their card, a small percentage will be taken as payment. Meaning you’ll always be able to afford it.
Get a quick quote to find out how much you could raise.
