The fashion industry is a 3 trillion dollar industry.

This means huge opportunities for both existing brands and newcomers.

To get off the ground properly, startups need to place themselves in a fairly small niche, where their target customers are, and where there is a healthy amount of competition.

By doing this, startups increase their chances of growth.

What is a niche market and why should you find yours?

A niche market is a small subset of the market for a specific demographic, product type, a particular price point, and a certain quality.
The advantage of finding your own “pocket” is less competition. With less competition, you have higher chances to sell your product to the exact right people, that want and need your product.

You can potentially even charge more because of the lack of competition.

This also increases brand loyalty and gives the brand a bit higher buying rates. Since your target customer is right there, you will not have to spend as much money on marketing.

As long as you talk to the customers in their language, authentically, and by telling valuable stories, they will not have to be “sold to”.

They will get your brand from the get-go.
Answering the questions and going through the tasks in the following steps will help you determine your niche market.

1. What are your passions and skills?

You will be the engine behind your brand, or you and a small team. If this is your first business, you will soon realize the ups and downs, and how hard you have to work to succeed.

Your passion will make your work easier. What passions do you have that can be related to the apparel industry? Are you a biker? Do you love tailored suits? Are you streetwear obsessed? You will work 24/7 on your business, and if your passion doesn’t lie here, you should then NOT launch a clothing brand. If you truly are passionate and have genuine interests in related segments then you’re on the right track. Customers in niche markets tend to be very knowledgeable, and they will sniff you miles away if you are not authentic and know your stuff.

Tasks

Make a list of at least 5 interests. What do you enjoy doing? What industry do you know a lot about? Which of those interests can you benefit from in your new business?

I totally agree. Nowadays, the fashion industry has a huge influence. You don't have to be a famous designer or fashion designer. You don't have to work in some famous fashion house. The main thing is to choose a niche, a direction to go in. I chose to make and sew traditional Chinese hanfu dress suits. Nowadays, these suits are worn only for formal occasions, ceremonies or meetings. But when this suit is worn, it catches the eyes of all those who are around.

https://www.youtube.com/watch?v=_p3BKwbxpx8