Market Research before Fast Fashion Store Opening

                                        
With changes in consumer attitudes, fashionable, personalized and convenient consumption is welcomed by the youth. Therefore, in order to meet the increasing demand for consumers, a lot of fast fashion stores have made upgrades comprehensively. 
 
For entrepreneurs, it is necessary to do market research well before the fast fashion store opening. Here are some tips on it. 
 
To do market research, various aspects such as the status, consumption features and situation are needed for store owners. 


1. Understand the market status
 
The market status concludes the scope of the target markets, available sales channels, competition situation and other relevant things. 
 
The market scope determines the store location selection and helps to consider how to cover more consumers. Great sales channels are beneficial to save money for stores. 
 
What’s more, a good analysis on competitors together with effective strategies are needed to enhance the store performance. 


2. Investigate the nearby residence situation
 
To certify the target consumers, it is of great importance to have a better understanding of the local population, consumption capabilities, habits and so on. After that, investigate the competitors about their store opening and operation status. 
 
What follows shall be the construction and development of the near cities, such as metro stations, schools and so forth. 
 
To get useful information, investigative methods such as samples, questionnaires, visits and others are more likely to collect relevant information. Next, screen out the useless one and make a conclusion, then make judgement on the operation of a fast fashion store. 


3. Subdivide the target consumers
 
The next step is to conduct a further subdivision to the target consumers according to their occupations, consumption capabilities, etc. Divide them into several groups then determine the level of the fast fashion store. For example, fast fashion stores opened near schools are likely to attract students, who have limited consumption capabilities but great demand. Under such circumstance, a small or middle fast fashion store is a good consideration.