Business

Brand Recognition: How to Make Your Clothing Brand Stand Out From Competitors

Published

4 years ago

June 10, 2020

In the fashion industry, there are brands that are easily recognized and then there are brands that cause people to questionably raise one eyebrow. This is normal. The fashion industry is a heavily saturated market and finding a way to stand tall in this ever-changing market can be quite tricky, but still very possible. In fact, the aspect of the industry being an ever-changing market is one of the biggest reasons why achieving success is possible.

According to just-style.com, the industry hitting its saturation point happened years ago and the battle to keep the attention of shoppers is what has lead to several retail business owners continually “slashing prices” just to keep their business afloat. But in the midst of change and adapting to the changes, could the saturation be hindering or helping retail businesses in the long-run?

The continuous changes in the industry are what most people like to call “trends.” The thing about trends is that as they change, your efforts to keep your brand relevant have to change too. This is going to require some calculated thinking and smart business moves… one misstep in your approach could make your brand recognizable for all the wrong reasons, which can, in turn, cause irreversible damage.

To give your clothing brand a shot at becoming a household name, follow these tips to stand out from your fashion industry competitors.

Ways to Make Your Clothing Brand Stand Out in the Crowd

Tell the Story Behind Your Brand

Storytelling is a major part of brand recognition. Why? Because even if you’re selling a line of clothes that are similar to thousands of other brands, it’s a pretty safe bet that they’re not going to have the same story behind their brand as yours.

What you may not realize is that more and more shoppers are becoming more interested in the people behind the brand than the brand itself. We are in the era of the informed shopper and they will conduct research on a brand or company before committing to a purchase.

By sharing your story, you’re giving the informed customer an original and genuine reason to shop with your brand. You, of course, don’t want your story to overshadow the products you’re selling but don’t be afraid to share your story with your audience…

Remember, people respond much better to people than meaningless objects. It’s your story that’s going to bring your products to life.

Make Sure Your Brand and Pieces are Consistent

Consistency is a design element that should be present from start to finish of your clothing brand… ultimately, consistency is what makes your brand memorable. Everything from your brand’s slogan to the design of your clothing labels, consistency is key in helping your brand become a household name.

It was mentioned earlier that fashion is an ever-changing industry, and it is, but while it’s important to keep up with the latest changing trends, it’s also important to implement consistency in the fashion industry’s world of chaos.

Consistency promotes trust, letting your audience know that you’re not changing and they can count on your brand to be the one thing that hasn’t changed on them. Consistency can come in many forms too. You can promote consistency through social media posts, how quickly you respond to customer inquiries, color choices, and by creating custom clothing tags… Wunderlabel Clothing Labels is a great company to help bring your custom labels to life.

Understand Who Your Target Customers Are

One of the worst things you can do for your brand is to not have a clear understanding of who your clothes are for. What age group are your clothes for? What do your customers do for a living? Are they single or married? These are all questions that not only play a role in who your target or ideal customer is, but it will also have a major influence on the types of clothes you sell to them!

Just look at the up and coming fashion trends you’re seeing now. You’re seeing people wearing clothes that you can’t find in any retail stores now. Why is that? Because people are turning to more custom looks. Clothing manufacturers are now turning to expert designers to create custom clothing pieces.

Custom pieces and uniqueness may be a fashion trend that’s hot right now but it definitely has the potential to turn into a timeless, revolutionary fashion statement.

Standing the Tests of Time

If you pay close attention to the popular brands everyone knows and loves today, you’ll notice that over the years, they never were complacent on their journey to success. In order to remain relevant through the years, they had to adapt to the changes that came with the industry without losing focus on what they wanted their brand to be recognized for.

Your brand can also stand the tests of time. If you can keep your business goals and the needs of your customers at the forefront of every calculated move you make, you’ll be able to grow with your customers, and eventually, become the household name you always wanted.

Business

Opportunities for Black Banx in Emerging Markets

Published

5 hours ago

May 5, 2024

Matthew Wiles

A significant digital transformation is underway in the world of finance, marked by the emergence of non-bank innovators offering a diverse array of financial technology products and services. This transformation is not confined to established markets; rather, it extends its reach into emerging economies, offering a compelling digital alternative to traditional banking institutions. These alternatives are particularly vital in addressing the issue of financial exclusion, which has left substantial populations underserved by traditional banking systems.

Among these innovative digital banking entities stands Black Banx, a fintech brand dedicated to fostering financial inclusion in emerging markets by seamlessly integrating banking services into digital ecosystems. Founded in 2014 as a visionary concept by German billionaire Michael Gastauer, Black Banx swiftly evolved into a global force in the global financial market Officially launched in 2015, the institution rapidly garnered international recognition, extending its services to 180 countries and territories from its inception. Within a mere 12 months of operation, Black Banx amassed over 1 million customers, marking its initial expansions in key regions such as the United States, United Kingdom, and Hong Kong. At present, with a customer base exceeding 40 million as of February 2024, Black Banx stands as one of the fastest-growing digital banks not only in developed countries but also in emerging markets.

What Are Emerging Markets?

An emerging market mostly describes the economic landscape of a developing nation progressively engaging with global markets during its growth trajectory. These economies possess some but not all of the defining characteristics of developed markets, which typically exhibit robust economic growth, high per capita income, well-established equity and debt markets, foreign investor accessibility, and a reliable regulatory framework, according to Investopedia.

As emerging market economies evolve, they tend to integrate more deeply into the global economy. This integration fosters increased liquidity within local debt and equity markets, heightened trade volume, and augmented foreign direct investment. Moreover, these economies witness the emergence of modern financial and regulatory institutions as they transition from low-income, less developed, often pre-industrial states to modern industrial economies with elevated standards of living.

With improving standards of living, the demand for financial security and opportunities escalates, underscoring the pivotal role of banking services. However, traditional banks face challenges stemming from bureaucratic processes and sometimes limited services. Conversely, fintech firms are gaining prominence owing to their convenience, user-friendly interfaces, and expedited signup procedures. Furthermore, their accessibility anytime and anywhere with internet connectivity enhances their appeal to the public.

Strong Demand for Financial Technology

The surge in digital banking adoption, particularly conspicuous in emerging markets, owes much to innovations originating in these regions. For instance, nearly nine out of ten consumers in the Asia-Pacific region, encompassing both emerging and developed markets, actively utilize digital banking services, with a significant portion expressing openness to expanding their usage through digital channels.

Enthusiastic adoption of fintech tools and e-wallets among consumers in emerging markets has propelled the market penetration of these innovative solutions beyond levels observed in developed markets. In the emerging Asia-Pacific region, the penetration of fintech apps and e-wallets surged to 54 percent in 2021, compared to 43 percent in the developed segment. This is indicative of the accelerating shift towards fintech transactions and services, as per McKinsey & Company.

A portmanteau of finance and technology, fintech refers to the burgeoning industry of companies utilizing computer programs and other technologies to provide support or enable banking and other financial services. In developed nations, there’s been a rapid expansion and adoption of fintech technologies ever since businesses and even governments started accepting digital financial transactions as a standard mode of payment. But even in emerging markets, the demand for fintech has also skyrocketed as more people report a diminishing reliance on cash for weekly expenditures.

Identifying Opportunities in Emerging Markets

Launching a successful digital bank entails navigating a myriad of challenges, irrespective of the market’s maturity. However, digital banking in emerging markets presents its own unique set of hurdles, particularly in securing widespread adoption among mass-market consumers. To thrive in any market landscape, a digital bank must first establish meaningful access to its target customers. While the initial interaction may appear straightforward in the digital realm, the reality proves more nuanced.

The proliferation of digital advertising notwithstanding, capturing customer attention remains a formidable task, compounded by the intricacies of onboarding procedures, even for digitally savvy clients. Moreover, the reliance on app downloads as a precursor to engagement further heightens the barriers to entry as first-time users may find them intimidating.

Building a solid trust relationship with customers is important for digital banks to maximize their opportunities in emerging markets. Trust, arguably the linchpin of sustained usage, demands meticulous investment in creating positive onboarding experiences and fostering comprehension of banking channels and products. However, achieving this trust quotient is not easy, especially in emerging markets with lower access to financial services and digital literacy.

Black Banx’s Success in Emerging Markets

Black Banx is a digital bank focused on empowering financial inclusion in emerging markets by integrating banking into digital ecosystems. It was founded by German billionaire Michael Gastauer who always believed that well-designed financial services have the potential to uplift even the most marginalized segments of society, providing them with enhanced economic opportunities.

Consequently, Black Banx is steadfast in its mission to promote financial inclusion while harnessing the advancements within the fintech landscape. Today’s digital technologies offer unprecedented tools to reconstruct banking paradigms, especially for those underserved by traditional financial institutions, with smartphones and laptops serving as gateways to financial empowerment. But while Black Banx makes use of the most advanced fintech technologies, including blockchain and artificial intelligence, it delivers an intuitive and easy-to-navigate user experience through its website and mobile app so even the inexperienced or less tech-savvy consumers won’t have a hard time using its platform to carry out financial transactions.

With his expertise and decades of experience in the financial industry, Gastauer has a keen eye for trends and what works in different markets. So instead of delivering different experiences for developed and emerging markets, the renowned fintech mogul opted to roll out the same suite of services to both because of his motivation to realize financial inclusion and offer only the best banking experience to all. As such, Black Banx facilitates seamless transitions between physical and digital currencies and even cryptocurrencies. The digital bank also tailors its channels to accommodate customers at various stages of their digital journey, ensuring that they feel guided every step of the way until they achieve their financial goals. All of these contribute to Black Banx’s success in emerging markets.