Value is what consumers want out of every purchase they make. Value is the correlation between costs and quality of a product whether it be a good or a service. A high amount of value can be obtained on both a lower priced discount product or a high priced premium product as long as the price and quality are on par with one another. Consumers are unhappy when a product fails to meet their expectations based on its value which is typically from a disappointment in a product’s quality based on its costs. If a consumer purchases what they believe to be a high quality product and it turns out to be a cheap discount product that is priced/sold as a premium they will be upset.
Most businesses who sell goods either purchase and then resell a product or create a finished product from scratch by using raw materials in some type of manufacturing form. A business that creates / manufactures the final end product has more responsibility to create the end value for their customer.
Branding: Equity, Loyalty, and Values
Apparel brands that not only survive, but thrive are the ones in which consumers know what the brand/company represents, and what to expect when a product is purchased. Name brands like Nike, Adidas, North Face, and Puma are just a few apparel brands whose products primarily feature the brand’s name or logo. Brands must have both strong equity and loyalty. Brand equity is the value added to a particular product or business by its brand. A business with good brand equity has higher sales and profits than its competitors because customers think of its products first when considering their needs. This leads directly into brand loyalty, where consumers are driven to consistently choose products of a favored brand over its competitors’ offerings.
The values that a brand represents and holds themselves to affects the way consumers perceive a company. Brand values are the core beliefs that a brand espouses to their consumers. Consumers who share those beliefs are more likely to buy from a brand if they are aware of them. Whole Foods Market Inc. is a good example of a company who makes their brand values clear to consumers through their name and slogan, America’s Healthiest Grocery Store. Whole Foods Market inc. believes in the importance of healthy eating. So, consumers who believe the same are more likely to buy their groceries from Whole Foods Market Inc. than other grocery stores.
Quality Over Quantity
When consumers purchase any products they want to receive a return on their investment. In regards to purchasing apparel, this means consumers want to know that the garment they purchase is a good piece of clothing. A good piece of clothing means that for the price the garment fits correctly, feels comfortable, and the print, if there is one, looks of quality.
Decoration Location, Location, Location
The location of a logo or brand name can be the difference between making an entire garment look unattractive or selling garments just based on the presence of a logo. The location of a logo can even become iconic for a brand. For example, The North Face Inc. prints or embroiders their logo, the majority of the time, on the right shoulder. The North Face’s decision to locate their logo always on the right shoulder, conveys their brand from a distance. Further, a consumer cannot read The North Face Brand from a far distance, but based on seeing a print on the back top right corner of a jacket lets everyone know who the consumer purchased their clothing from.
Products with Little or No Decoration
More print on a garment does not necessarily mean a better garment. Many consumers prefer blank shirts, or shirts with little decoration. In fact, brands with strong equity, loyalty, and value can sell a blank t-shirt for at least double its actual cost, but usually even more. If a brand is valuable enough, then it can sell shirts with their own, often times one color, logo on it for a pretty penny. Additionally, there is an advertising value that goes along with selling a branded shirt.
How to Find the Right Products
It is imperative to conduct research on apparel to know which products should and should not be sold to customers. The best way to do this is to purchase samples from your apparel suppliers. Often times, suppliers offer grommeted samples free, or at least at a discounted rate. Once you receive samples, be sure to keep them so you can show them to clients when needed as well. Additionally, when conducting research it is important to look for products that can be retagged (See Retagging Apparel 101) below. Popular products that come with a tear away tag as 2 seperate (Brand + Legal) tags are a huge asset to your business.
Retagging Apparel 101
Retagging garments is one of the easiest ways to create a new apparel brand overnight with little to no other decorating of a product. Retagging starts with removing the tag that comes on a garment. The ideal re-taggable garments are ones that feature a “tear-away tag”, in which the tag can easily be torn from the garment. This is so the garment can either be rebranded, or so the customer does not have to deal with an irritating tag. A tear away tag garment typically is broken into two tags. One of the tags will include information regarding: the size, fabric(s)/materials within the garment, where it was manufactured, washing instructions, and other information that is legal information that is required to be included. The second tag is the original manufacturer’s brand that is typically not torn away by a decoration business unless it is being retagged, but then later on removed by the customer.
