Everyday, fashion startups are constantly launching around the world. Starting a new fashion business comes with its own challenges. Popular social media platforms such as Instagram and TikTok have been powerful marketing tools for small businesses to promote products and share new ideas with the world.
In this article, we will explain how fashion startups are the future rather than big fashion corporations. We also will mention a couple of fashion startups that are shaping the future.
What are Startups?
As stated by Investopedia, a startup is a young company founded by one or more entrepreneurs to develop a unique product or service, then brought to the market. One of the first challenges for startups is to prove that there is potential in their product to investors. Startups bring innovation and competition to the market. Other challenges include funding, and the risk of failing.
Startups also play a huge role in the economic growth of the economy, as they create jobs, meaning more employment, which leads to an improved economy.
How fashion startups can be successful on social media
TikTok is a unique social media platform available in over 150 countries with over a billion users, according to Wallaroo.
With new technology, the future of the fashion industry is becoming more digital. Fashion startups can leverage the digital world to open up new doors and opportunities for their business. Today, influencers have a huge impact on what the new trends are, especially among Generation Z. The newest fashion and clothing trends stem from TikTok, making the app a great marketing tool for many small fashion businesses.
One viral video could make a business become successful overnight. In this day and age, social media is the reason behind many successful businesses. Designer Lirika Matoshi gained prominence thanks to the internet and influencers. The “Strawberry Dress” gained popularity in the summer of 2020, and took over everyone’s “for you” page on TikTok. It was the best-selling item from Matoshi’s collection along with the “Strawberry Mask” according to Vogue.
Fashion Startups & Society’s Behavior
Fashion startups are also changing the way people live their lives. Rent the Runway, a New York-based company, has been changing the way people dress for years. The company offers a fixed fee to rent specific clothing for a fraction of the retail cost. For special occasions and events, the company lets its customers swap out pieces of clothing and accessories anytime they want.
The clothing rental company blossomed through social media, becoming popular through their loyal customers who swear by Rent the Runway. With having such a wide variety of clothing and accessories to choose from, Rent the Runway opens new doors for its customers to discover new brands and styles while staying on a budget.
Another online startup that is popular amongst social media influencers is Shoptiques, a large online shop where you can find unique clothing from all around the world that includes New York, Paris, London, Sydney, and more.
Fashion subscription services are also a big hit amongst millennials and Generation Z, thanks to social media. Subscription services such as FabFitFun, BirchBox, and Stitch Fix have an enormous following and change the fashion industry with accessibility and affordability. With these recurring fashion subscriptions boxes, your wardrobe can continually update with the latest trends and stylish essentials.
Why fashion startups are the future.
Small businesses mean business. With new innovative ideas and designs, they differ from traditional retail stores, and the way that people interact and discover great new fashion products stems from small companies.
Therefore, make sure to shop small, and check out the newest fashion companies. You will never know what they have in store. Your purchase has a big impact on a small business, and when you make that purchase, realize you are funding their livelihood and dreams.
Don’t forget to check our previous article about how 21st Century Technology has also taken a huge part in the fashion industry’s new era. Click here!