#Asia The 3 biggest challenges faced by fashion and beauty startups


It is important to implement strategy to differentiate from other startups

photo-1446214814726-e6074845b4ce (1)

Having a significant amount of followers in social media platforms turns out to be insufficient to sustain business for startups providing fashion and beauty products. For promotional and branding purposes, the number of social media followers may help introduce the company to the public’s eye, but the company is unable to present a good product with fast and secure service, it would be difficult for the company to develop.

What companies need to keep in mind in running a fashion and beauty service-oriented business is securing a smart trick to increase sales. This article will discuss the greatest challenges faced by fashion and beauty startups, and how to turn the challenge into an opportunity for scalability and monetisation.

Also Read: Snap, crop, buy: Hong Kong’s fashion discovery startup Goxip raises US$1.62M seed round

Early monetisation

It will be a pride of its own for your own startup if you have managed to secure a certain number of followers in social media, but it remains crucial to not focussed too much on it, which is a generic strategy done by too many companies. Try to focus on your monetisation plan by understanding your consumer behaviour better. Make attempts to monetise early so your business can have a stabile revenue, as it helps you to understand your loyal customers earlier.

Curate your potential customers early on, perform an intense approach starting from when their number is still small, all the way until it grows bigger. Try to pay close attention to your business metrics that are related to your target market. Later as you begin to focus more on products and sales, you already know what the customers like since the beginning.

Also Read: Staying alive in the fashion world: lessons learnt by Getfash.com

Product quality is priority

Despite the abundance of e-commerce platforms and online shops in our society today, there are still many people who prefer to visit a brick-and-mortar store or boutique to see, feel, and buy fashion and beauty products. This is where the challenge is for fashion and beauty startups; how the products and services that you provide can “disrupt” a business that has been around for a long time.

Not unlike other tech startups, startups that provide fashion and beauty are also obliged to use the latest technology. It is all up to you whether you want to set up your own in-house engineer team or to outsource it. Whatever your choice is, make sure to process all customer feedback and give features and products that everyone can enjoy.

Focus on the best and the most unique fashion and beauty products, so that when customers can have a more positive experience and automatically turn themselves into a loyal customer.

Also Read: Tech plays matchmakers for fashion and manufacturing in the ASEAN region

Growth style

At a glance, selling fashion and beauty products seems like an easy feat compared to the works of other kind of startups. By only relying on social media, eye-catching photo and a wide variety of products, business can quickly secure customers with all the ease it provides.

The fact is running a tech-based fashion and beauty business is a tough and challenging feat. Only those who are ambitious and smart enough will be able to stand out, and successfully go through all existing challenges.

Many companies are able to grow rapidly due to their competitive advantages, but the beauty of fashion and beauty startups is the necessity to combine structural efficiency with grit and resilience as expected by customers. They need to understand in similar capacity that the two inseparable points in developing this business are the complex logic behind non-linear growth and the emotional needs that push fashion and beauty products toward the customers.

The article Tiga Tantangan Terbesar yang Dihadapi Startup Fashion dan Beauty was first written by Yenny Yusra and published on DailySocial. English translation by e27.

The views expressed here are of the author’s, and e27 may not necessarily subscribe to them. e27 invites members from Asia’s tech industry and startup community to share their honest opinions and expert knowledge with our readers. If you are interested in sharing your point of view, submit your article here.

Image Credit: Mariya Georgieva on Unsplash

The post The 3 biggest challenges faced by fashion and beauty startups appeared first on e27.

from e27 http://ift.tt/29FffJJ

This entry was posted in #Asia by Startup365. Bookmark the permalink.

About Startup365

Chaque jour nous vous présenterons une nouvelle Startup française ! Notre pays regorge de talents et d'entrepreneurs brillants ! Alors partons à la découverte des meilleures startup françaises ! Certaines d'entre elles sont dans une étape essentielle dans la vie d'une startup : la recherche de financement, notamment par le financement participatif (ou crowdfunding en anglais). Alors participez à cette grande aventure en leur faisant une petite donation ! Les startups françaises ont besoin de vous !