What Sets You Apart in the Custom Suit Market : A Competitive Analysis
The custom suit industry is about more than the craftsmanship required to produce the suits, but about how your business can stand out from the competition. The first step to attract new customers is to understand what makes your brand unique. This post will dive into how you can set your custom suit business apart from others in this competitive market.
Understanding Your Competitors
In order to understand what makes your business stand out from the rest, you need to see what you’re up against. You may be competing with an innovative online brand with a quick turnaround time, or a traditional tailor with many years of experience. A traditional tailor likely offers an experience with personalized touches, but probably lacks many modern conveniences. On the other hand, online brands will provide speed and convenience, but are likely falling short on personalization. Knowing who your competition is makes it easier to identify where your business stands out.
Finding Their Strengths and Weaknesses
Next, it’s time to look at the strengths and weaknesses of your competitors. This is essential for identifying gaps in the market. Then, you can position your brand to fill these gaps. Pay attention to what customers love about your competitors, is it the fitting process, design options, or fabric choices? How can this be incorporated into your business? Don’t forget to see where they fall short, is it their customer service, or are prices too high for the quality of the piece?
Establishing Your Unique Selling Proposition (USP)
As a business, your USP is your competitive advantage. This is what makes your brand the go-to for a custom suit. How do you want to stand out?
- Personalized Experience : Is your fitting process one-of-a-kind?
- Craftsmanship : Does your suit-making process blend tradition and innovation?
- Design : Do your suits reflect each client’s unique style?
Listening to Your Customers
Your current customers likely have suggestions on how to improve their experience. So don’t forget to ask their opinion! What do they appreciate most about your services, what are you doing right? Customers can provide constructive criticism as well about what you can do to perform better. This feedback can help you define your USP and address any issues you may have.
Your Brand’s Story
Your brand has a story behind why you decided to sell custom suits. Is your brand a part of a family history of tailoring? Or are you trying a new method of sustainable suit-making? Whatever your story is, make sure it is consistently shared across all social media platforms. Sharing this compelling narrative can set your brand apart from others in the market.
Staying Ahead of Market Trends
The custom suit market is constantly evolving. In order to maintain a competitive edge, be sure to focus on industry trends and adapt your strategy accordingly. Make sure to stay up to date on new fabric technology, and design preferences.
If you’re ready to set your custom suit business apart from the rest this is the perfect time to start. First, conduct an analysis to determine who your competitors are, study their strengths and weaknesses, and find your unique selling proposition. After that, make sure of customer feedback to ensure your approach fits the needs of your customers. Be sure to keep up with market trends to keep your customers coming back. Once you understand your competitors, and what makes your brand unique you’ll be ready to attract new customers for your brand that stands out!