When should a fashion or lifestyle brand open a store?
As we’ve seen, an omnichannel strategy aims to combine the convenience of e-commerce with the enhanced customer experience that physical retail can provide. A well-managed combination enables a deeper overall connection between the customer and the brand. However, the decision to open a store should not be taken lightly. The key is to understand your brand’s cost-benefit ‘tipping point’ – that point at which the cost-efficiency benefits to your brand of being online-only are outweighed by the potential benefits of having a physical presence. This will largely depend on your product range, your audience profile and your brand’s personality. Translating your brand’s online presence into a physical environment is a fine art, but when done well, it can be a valuable catalyst for brand awareness and loyalty.
First steps to omnichannel success
Of course, not all brands are ready to invest in a full bricks-and-mortar store right away. Fortunately, there are intermediate options available. For example, some brands such as SHEIN, ASOS and Depop have launched temporary pop-up stores to raise their profile and create shareable moments for their social media followers.1 Another potential approach is to partner with an existing bricks-and-mortar retailer and create a branded space within a larger physical store. This can be an attractive solution for brands with a strong online following who want to expand their audience, gain credibility and test new concepts on a wider scale.
While embarking on an omnichannel strategy can be daunting, it may be the right next step for your brand. It can unlock valuable new opportunities to build stronger relationships with your existing audience and even reach new market segments. What makes D2C brands so appealing to consumers is the way they differentiate themselves from traditional retailers by offering products that respond more directly to their needs and wants. If you can create a physical retail experience that reflects this, while delivering high-quality service, customers will definitely thank you.
