A boutique business is a great way for the small business to excel in service and profits by catering to the standards of the high-end market as opposed to focusing on sales quantity. This school of retail thought can be especially difficult to get right. But by focusing on proper data analysis, important marketing procedures can be fine-tuned in order to excel in your marketing niche.
Examples of this have been found in many of the most successful small companies around the world. Small Business owner and fashion designer John Fluevog has made a name for himself not only as a world class fashion designer but also a shrewd businessman. His unique skill set has allowed him to expand his customers while still attending to the affairs of his business.
John Fluevog was good enough to sit down for an interview with Globe and Mail to discuss the particulars of the fashion industry as a whole and how a savvy entrepreneur can handle their boutique business in a competitive market that is constantly offering more.
He also discussed the importance of proper approach when defining your niche in an industry and how this can allow you to discover your freedom and creativity in setting your business apart from the rest.
“I have been in the boutique business for a long time now and I can tell you that I’ve stayed clear of the trends mostly because I can’t follow them,“ he stated to the reporter “… I have a knack for doing my own thing. That could be why I have the individuality to stay in business for so long…“
This creativity can’t be simply shots in the dark. A small business has a better chance of making innovative and successful moves when incorporating high quality data from a appropriate inventory data software. The vendor histories and sales records found here will provide a clearer understanding of where your market is headed and what will be needed over the next few weeks, months and years.
While following the masses and shooting for large quantity sales numbers will involve considering trends, the boutique business is far more intuitive. While this does allow for a greater freedom when making future plans, without a clear consideration of industry records and cash flow tendencies, results can be unpredictable.
Cloud-based inventory management software collects all the data necessary for making these important decisions in one easy location. For the boutique business this means having all the important factors to plan ahead for innovative industry campaigns.
