As a future online boutique owner, one of the most exciting parts of the process is buying inventory for your online store! It’s like shopping at your favorite mall…x1000!
Picture this: rows of exquisite dresses, racks filled with trendy accessories, and shelves adorned with unique handmade crafts – all waiting to find their way to the homes and hearts of your customers.
But amidst this exhilarating adventure, there’s an art, a science even, to stocking your online boutique that goes beyond just picking what you like.
Once you’ve filed your LLC, received your EIN number, created your business bank account and gotten your reseller’s permit, you’ll have access to more vendors than you can count. If you’re at a trade show it can be tempting to want a peek at everything!
But here’s the thing: buying inventory is not a shopping spree! That’s because you’re not buying for yourself, you’re buying for your customer.
If you don’t know who you’re selling to, you’ll end up with boxes and boxes of product piled up in your living room full of clothes that you can’t sell. That’s every boutique owner’s nightmare.
In order to make your dream business into a real business, you have to be able to sell the inventory you buy. And you can only do that if you buy the right way. There are three keys on how to get inventory for online boutique correctly when starting an online boutique.
So let’s start from square one.
Who is your target customer?
Most new online boutique owners skip this VERY important step before launching their boutique. But it’s one of the most expensive mistakes you can make.
If you don’t have a clear picture of your target customer, you won’t know what to buy or what to sell it for. And you never want to play the guessing game with your money!
Answering this question will be a big step in clearing any confusion. It will help you focus your buying budget, create a buying plan, and know which vendors to contact (and those to skip). That way, you’ll save money, time and energy— and you’ll only buy things that your target customer will be attracted to.
Analyze trends
To stay ahead of the curve when buying inventory for your online boutique, it’s essential to become a trend whisperer.
First, immerse yourself in the world of fashion and consumer preferences. Follow industry influencers, read fashion magazines, and keep a close eye on social media trends.
Additionally, analyze your target audience’s behavior and preferences. Use tools like Google Trends to identify rising search queries related to your niche. Attend trade shows and fashion events to gain insights into upcoming styles and innovations.
Collaborate with fashion-forward individuals or hire trend forecasters if your budget allows.
Ultimately, trust your instincts, but always back them up with data and research. By staying tuned in to the ever-evolving trendscape, you’ll become a trendsetter rather than a trend follower in the world of online boutiques.
Create collections
You don’t want a shopper to just buy a piece here and there from your boutique. You want to organize your inventory cohesively so that a shopper **WANTS** to easily buy everything you’re offering.
That’s the power of creating collections, when you know your customer. The right way on how to get inventory for online boutique means curating pieces that work well together, from apparel to accessories. You want to take into account every aspect of your target customers’ style so you can cater to her.
Your online boutique should be her favorite place to shop. And that’s because she should be able to create multiple looks from the pieces she purchases. The easier you make it for her to shop, the more she’ll spend. That’s a win-win!
Buy the right amount of inventory
Inventory is an investment. So you want to be strategic, not only with what you purchase but how you purchase. When you are starting out, I recommend buying a case pack per style.
As you get more customers, you’ll get an even better idea of what sizes are more in demand. When you know the size range of your customer, you’ll know if you should stick with the vendor you currently have or switch to one who offers quantities in their case packs that suit your customer’s needs. Having the right supplier will help you get more bang for your buck.
Feedback and Adaptation
Listen to your customers’ feedback. Engage with them through social media and surveys. Understand what they love and what they desire. Use this invaluable information to adapt your inventory. A boutique that evolves with its customers not only survives but thrives in the competitive e-commerce landscape.
Remember, buying inventory for your online boutique is not just a task; it’s an ongoing journey.
Stay passionate, stay curious, and keep exploring. With the right blend of business acumen and creative flair, your boutique will not only survive but flourish, becoming a go-to destination for fashion aficionados worldwide.
What’s Next?
The journey doesn’t end here! If you’re hungry for more guidance on steering your online boutique toward success, I’ve got something special for you.
Dive into my free video training: How to Launch (and Grow!) Your Dream Online Boutique So You Can Leave Corporate Life Behind… (Without Taking *Forever* To Figure It All Out On Your Own!)
This training introduces my proven system that helps you make sales from Day 1. So, grab a seat, soak in the knowledge, and let’s elevate your online boutique game to new heights.
And the best part? It’s an on demand training — that means you can watch it on your own time!
Click here to sign up to get free video training and turn your boutique dreams into a thriving reality!