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Trendy designs, affordable pricing and lightning-fast production cycles. These tick all the boxes for a digitally savvy, ‘want-it-right-now’ generation of shoppers. They’re looking for wide variety that is light on the purse strings, and international suppliers are giving them exactly that. To the detriment of local retailers. But why are these suppliers achieving such global market domination?

The meteoric rise of fast fashion suppliers such as Shein can be attributed to several key factors which local retailers must understand and respond to effectively:

Firstly, Shein has mastered the art of fast fashion by swiftly translating runway trends into affordable, accessible clothing. Local retailers must acknowledge that today’s consumers seek the latest styles at affordable prices, and they must adapt accordingly.

Secondly, pricing strategies are designed to appeal to budget-conscious shoppers. By leveraging economies of scale, they can offer trendy clothing at unbelievably low prices. Local retailers should strive for cost-efficiency and explore creative ways to maintain competitive price points. Perhaps Artificial Intelligence (AI) could be a consideration in terms of automating tasks to cut down overheads.

The power of data cannot be disputed in this sector. Shein uses data analytics to identify trends, forecast demand, and optimise its product offerings. This enables them to cater to the ever-changing tastes of consumers.

Local retailers must be prepared to invest in data analytics to better understand customer preferences and refine their inventory accordingly. The age of hyper-personalisation is here, and shoppers expect their suppliers to know what they want and then some.

Finally, Shein has tapped into the most powerful form of advertising – influencer marketing. Their collaboration with influencers and social media stars to promote their products means that they are, quite literally, on every shoppers device in one way or another.

This influencer marketing strategy effectively targets younger audiences who are rising up to become some of the biggest spenders. Local retailers should consider partnering with local influencers to enhance their brand visibility and connect with younger consumers.

Strategies for local retailers

While Shein’s global success is undeniable, local retailers can still thrive by adopting strategic measures to compete effectively. Some strategies that local retailers can implement to attract and retain customers include:

• A focus on sustainability
• Curate unique collections
• Seamless online shopping experience
• Customer engagement
• Collaborate with local artisans
• Transparency and ethical practices
• Localise marketing efforts

Ultimately, the success of local retailers hinges on their ability to connect with customers on a personal level, offering a shopping experience that goes beyond price and convenience. The sheen is certainly wearing off for consumers who have had bad experiences with global fast fashion outlets. It’s time for a ‘local is lekker’ revolution to ensure that local can survive, thrive and be sustainable for the long term.