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Product Differentiation

    • 4 posts
    August 15, 2014 5:28 PM EDT
    Hi guys,

    I'm new here so please forgive me if this has already been inquired about (when I searched I didn't see anything).

    I'm considering starting a dropshipping business online (so I won't have to keep/pay for my own inventory) for men's formal accessories at an affordable price. I'm considering selling dress ties (slim, extra long, bow, etc.) shoes, watches, and pocket squares. The ties would go for around $20 and in my opinion the designs are nice for the price, I can upload photos if necessary. I know there are sites such as thetiebar that already offer low price ties, so I was wondering if any of you had some advice on ways to differentiate/ put a new spin on the ties to separate (other than price).

    Any help is appreciated.

    Thanks
    • 4 posts
    August 15, 2014 5:31 PM EDT
    Forgot to mention that I'm realistic and aware this isn't a revolutionary idea, and the goal isn't to make a ton of money and get rich off of it, but I think it can at least be profitable.
    • 22 posts
    November 6, 2014 12:18 AM EST
    Hello Dkatz! I understand that its difficult to start up a business like this especially when it comes to clothing industry, most people look for the style and the price tag of course. If you can offer stylish/ quality AND affordable, then it can work for your advantage. Since you've mentioned that your products' pricing seemed reasonable for the quality, then there wouldn't be a problem. You should focus on marketing LOCALLY first, then when you achieved a good reputation, then it is a time for you to expand your market. You can use IG and other social media sites to market your product. You can also use flyers, brochures, catalogs, business cards and other print ads to market your business. Freebies & promos/ discounts are also nice way to market your business.
    • 97 posts
    November 6, 2014 4:53 AM EST
    Maybe you can advertise yourself on websites and blogs about fashion for men.
    • 3 posts
    March 19, 2015 9:45 AM EDT
    Accessories make up 10% of clothing sales, dresses 70%, it's a marginal game so to bring in the custom you really need to diversify. The only way to break that is by volume with 10,000s to 100,000s products and for that you need some pretty good supporting infrastructure.
    • 1 posts
    April 7, 2015 11:54 AM EDT
    Hey there. And this is just my two cents, but have you considered a tie subscription service? I know there are a ton of companies that offer full wardrobe subscription services, but those don't make a whole lot of sense to me. Something like ties I like to change up pretty often, so getting two or three new ones per month would make sense. You could set up a low maintenance fee and charge for the ties that your customers keep.

    If you are solely looking to differentiate on product alone, you are really just dealing with fashion trends, and unless you are a taste maker you will always be playing catch-up. Placement and distribution might be a good way for you to differentiate your product.
    • 4 posts
    April 21, 2015 7:29 AM EDT
    Make them 'gift ties' with really amazing gift packaging provided with the tie if required? Perhaps you could deliver direct to recipients with hand written gift messages provided too as part of the service.

    Amanda
    www.trulyace.com