The world of fashion stands still for no-one. Not for customers, not for designers, and certainly not for brands. It’s called fast fashion for a reason, after all. In this fiercely competitive arena, brands do battle to engage the attention of customers who know that they can afford to be fickle.
As businesses churn out more and more clothing lines in an effort to stay current and relevant, consumers have a plethora of products. So much so that standing out from the crowd can be an ordeal, especially to nascent eCommerce brands trying to make a name for themselves.
In a new year and a new decade, fast fashion is undergoing a major image change, providing affordable and high-quality clothing as ethically and sustainably as possible. And vouchers are a driving force in helping new brands to make their voices heard.
For a more in-depth look at how you can use promo codes to your advantage, you can get our Ultimate Guide to Using Promo Codes.
Single-use promotional codes get customers’ attention without risk
If you’re new to selling clothes online, you may be surprised to see that the competition in the field eclipses even your boldest estimates. Even if you have a strong USP it can be hard to connect with your target market in the world of fast fashion. Consumers have become used to abundance and low prices, and it takes something special to motivate them to take a chance on a new brand.
Promotional codes can be helpful in this respect. But conventional promotional codes can be subject to misuse. Many new eCommerce fashion retailers have naively posted promo codes online, only to find them spammed by a handful of unscrupulous users. Promo code misuse can result in severe dents in profit margins at a time when new retailers are just finding their feet.When they invest in the software to create unique, single-use codes, however, they can get all of the engagement benefits without the risk of misuse. Because these codes can only be used by their intended recipients, they have an air of exclusivity as well as being immune to abuse.
Personalisation makes offers meaningful
Promotional offerings can be a great way to make a first impression and show people what’s great about your brand. Whether you’re committed to sustainability, passionate about delivering great prices or you simply have a great selection of products that leads the way in creating new trends, your USP is easier to communicate when consumers are willing to take a chance on you.
However, even single-use promo codes may not be enough to get uncertain customers to take a leap of faith in you, especially if you have a “one size fits all” approach to promo code creation. The cool thing about promo codes is that they can be personalised in line with customers’ previous purchases or interactions with your website. So you can deliver promotions that are more meaningful to them and engage their attention at the expense of your competitors.
Personalised promotions are no longer considered a novelty. The majority of consumers actually expect them. If you don’t offer personalisation, prepare to lose business to a competitor that does.
Leveraging scarcity marketing gets customers off the fence
Abundance is a real problem in fast fashion. Because consumers know they have so much choice, they can sit on the fence and wait for a better deal to come along. This can lead to high levels of shopping cart abandonment and huge swathes of inventory sitting unsold on your shelves.
Scarcity marketing, however, can get dawdling customers off the fence and target shopping cart abandonment. Even though online fashion has one of the lowest shopping cart abandonment rates (around 74%), that’s still a lot of lost revenue sitting in forgotten shopping carts.
How does scarcity marketing work?
Scarcity marketing uses limited-time offers and diminishing discounts to shake consumers out of inaction. It reminds them that they’re not going to get a better deal than the one that’s right in front of them.
For example, adding personalised promo codes to your email campaigns is a great way to engage prospects… but if they don’t claim the codes, you might want to experiment with adding time limits to your offers. Alternatively, try using diminishing discounts to ensure that those who reply promptly get the best offers while those who drag their feet miss out — until next time.
Likewise, limited-time discounts can also be a great incentive to revisit an abandoned shopping cart. You should exercise caution when offering these discounts, though. You don’t want to encourage shoppers to get into the habit of abandoning every shopping cart because they think it will get them the best deals, so use this trick sparingly!
Gamification gets customers to keep coming back
Just because fast fashion retailers often work in the eCommerce space, that doesn’t mean that they can’t provide a customer experience. Gamification is a great way for fashion retailers to build value in their brand and encourage customers to keep coming back.
There are lots of ways in which you can combine gamification with promo codes. For example, you might post an image of a model wearing a certain outfit on your website and offer a special discount to customers who buy every item that makes up the outfit.
Or perhaps you might want to hide promo codes around your website in the form of easter eggs which eagle-eyed customers can click on and use. Once single-use promo codes have been used, they’re gone forever, which can be a great way to stir up healthy competition between customers.
Bundle deals give customers better value
Speaking of outfits, matching accessories and garments are a fundamental part of upselling in the world of fast fashion. But this is historically easier to offer in a physical store than online. However, promo codes can be used to create bundle deals to help customers get more for their money and perceive greater value in your brand.
You can bundle all kinds of items together: T-shirts and shorts, underwear and socks, skirts and hosiery… whatever is of the most value to your customers. The software used to create single-use promo codes often comes with its own analytics. So users can track which bundle deals perform best, as well as identifying which items are purchased most commonly together with promo codes.
The world of fast fashion is rife with challenges. The abundance of competition and potential image issues in an age of ethical consumerism can make it harder for new eCommerce brands to establish themselves. When brands take advantage of the power and versatility of vouchers, however, they can add value for the customer and sow the seeds that can blossom into lasting customer loyalty.