Fashion Buying 101: Things to Consider When Buying for Your Boutique
The buying process can be one of the most exciting yet stressful parts about running a clothing boutique. There are several things to keep in mind when buying for your boutique. Here’s a quick guide to help you make the best choices you possibly can while staying on brand and on budget.
Do Your Research
This is the fun part: staying up to date on the latest trends. Whether you rely on fashion publications, your favorite bloggers, or even your instagram feed to help you stay current on what people are wearing, it’s best to always do your research before making a wholesale clothing purchase. Does something you see inspire you? Add it to your wishlist! When you’re looking to restock your boutique, it will be easier to make informed decisions, while taking other things into account. Which takes us to our next point…
Where should you buy?
There are several options when it comes to online wholesale retailers. Choosing to make a wholesale purchase online allows you the added convenience of comparing and contrasting between various retailers before making a decision. Plus, the online sales, discounts, and coupons can be hard to pass up!
Another option when buying for your boutique is to attend fashion expos and events. While these can be expensive to attend, it’s a great way to network and meet other people in the industry. Not to mention, you get to see the clothes in person before making a purchase!
The Buying Process
First, you need to consider your budget, and look for prices that meet your expectations. This will be different for every boutique, but determining your budget is a necessary starting point.
Its also important to consider quantity when making your purchases. When it comes to how much to purchase of a certain piece, sometimes it’s best to base this on purchase history. What has worked in the past? How quickly do you typically sell out of a certain item?
Last but not least, make sure to keep in mind which sizes to stock. Most wholesale retailers have a minimum purchase requirement, so make sure you stock sizes accordingly. Do you always sell out your plus size clothing faster than your petites? Maybe consider purchasing more plus size clothing. Also, utilize size charts when you can.
Other Tips and Tricks
Something that takes your boutique to the next level is having a standout brand voice. What would you like your brand to convey? Channel your target demographic when narrowing down your picks and making purchases. Always ask yourself, would your ideal client wear this piece?
Stay on the lookout for sales, coupons, and other discounts. This is by far the most cost effective way to make a purchase for your boutique, because it leaves margin for profit that much higher.
Buying for your boutique can be fun if you are prepared. Following these tips and tricks should help make the process as easy as possible! What are your favorite tips and tricks for fashion buying?