India is a land of diversity. The textile sector reflects the country’s confluence of culture and tradition. The clothing industry in India is extremely varied, with hand-woven and spun clothing sector on one hand while the capital-bound sophisticated mill sector operates on the other. The clothing sector has ample business opportunities to offer, both in wholesale and retail.What’s on offer?
A recent report shows that organised wholesale business in India is growing at the rate of 13% at present. This transition is impacting businesses across the country. It needs no further argument that wholesale clothing business is also opening up a world of opportunities. But, is being a wholesale clothing supplier profitable? Surveys show that:
The textile market in India is valued at 12,000 crore INR and is expected to reach almost 23,000 crore INR by 2020**.
The advent of cutting-edge machinery is successfully obliterating the potential pitfalls of traditional clothing business.
Wholesale business, being volume-driven in nature involves producing or sourcing products by bulk at discounted rates. This lowers the initial cost of setting up the business.
These facts indicate the market potential of wholesale clothing supply is immense. Make the most of this opportunity and consider starting your own supply chain. As a wholesale clothing supplier, you have the option of interacting directly with your supplier or manufacturer. While many wholesale clothing suppliers prefer dealing with the manufacturers directly, the formula that works best in this domain is: buy low and sell high.New minds, new ideas
This new age of consumers calls for a suitable new-age seller. No wonder, reimagining your roles is a crucial aspect of the process. Investing in boutiques and departmental stores provides you with ample ground to experiment with your trade.
Incorporating brand-new business strategies is also a good way of staying in the competition. For example, consider the buyer-first approach. Buy prioritising your customers’ needs, you help build trust in them. In the end, customers believe in brands
. Establish your own brand and involve your customers. Provide seasonal discounts and offer sales. Time them to overlap with festive, or wedding seasons to sell your products well.The Amazon advantage
Now, where to sell? If you’re a 21st-century entrepreneur, you’re aware that using the internet to sell is the best way to go about any business today. Register as a seller on Amazon
, sell to businesses
, get access to crores of customers, fast and easy shipping, secure payments and a lot more.
*Source: Times of India: Organized wholesale business growth at 13% and traditional market escalation is 7%
**Source: Ibef.org: Textile Industry & Market Growth in India: The growth of textile market at US$ 120 billion and by 2020 it is expected to reach almost 230 billion US$