Why Is Market Research Important for Your Garment Business?
Marketing research is important in a garment business because it helps you understand what customers like, what trends are currently going on in the market, and who your target audience is. If you design or stock products without research, it is possible that they may not match the preferences of the customers and the sales will be affected.
Marketing research also reveals the prices at which customers prefer to buy and what type of fabric (such as cotton, linen, silk) is in high demand. Based on this, you can improve your collection and pricing.
Apart from this, marketing research helps you understand the way your competitors work – such as what they are selling, what are their prices, and what kind of promotions they are using. This helps you present your brand in a different and better way.
By doing research, you can identify areas where there is demand but supply is low, so that you can launch your products at the right place and at the right time. Overall, marketing research protects you from pitfalls and helps you move your business forward in an informed manner.
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