HOW TO RECOGNIZE THE RISKS OF SUNGLASS BUSINESS？

• High-risk styles (form factor & color)
• Operational risks
• How to reduce the risks

When it comes to risk business in the apparel industry, what are the factors we need to consider?

The most important factor when dealing with a fashion-heavy industry is as simple as how trendy the sunglasses are!

Higher risk: apparel that is at the forefront of fashion

New styles inspired by the latest fashion shows often with more unique colors and unusual shapes to be more eye-catching.

Moderate risk: Long-lasting trends or classic styles with a slight twist

Popular long-lasting style with a unique aspect to it that makes it stand out.

Lower risk: Tried and true classic styles

Classic Aviators, Oversized Jackie O's Glasses, and the ubiquitous Cat Eye styles.

In addition to the actual product, we need to consider the risk associated with running a business that sells sunglasses.

Step 1: Finding a wholesaler                    Risk business index: ★★★★★

Pay attention to the quality of the merchandise you receive.

Make sure the frame and lens material is high quality and FDA-approved.

Make sure any and all regulations that need to be met are met.

Finally, make sure that their promised delivery time is actually achieved; otherwise, your hot-selling items may be in trouble.

Step 2: Store the merchandise               Risk business index: ★

Most sunglasses can be stored without special temperature or humidity controls and are not as bulky as other merchandise and are on the lighter end of the spectrum.

Step 3: Find the Right Marketplace     Risk business index: ★★★

Finding the right marketplace, whether you decide to go online retail or brick and mortar is just as important as finding a good product to sell (which you already have!).

Depending on the marketplace, you need to determine your customer base and whether it fits your brand.

For example, selling on Amazon automatically gives you a large pool of potential customers, but customer loyalty and retention are close to 0.

Your own e-commerce website should provide the highest level of customer retention and brand loyalty but also need to also focus on building a presence.

This also applies to a brick-and-mortar store (PoS)! You need to do research about where you want to set up shop.

Are the local people part of your target audience?

Does your merchandise fit the general age of the shopper?

Will your brand complement other stores or stand out in a bad (or good!) way?

These are all factors to consider.

To further explore this we need to take a look at the 4 Ps:

Product, Price, Place, & Promotion

 

Product:

Sunglasses can be considered a necessity to prevent early-onset cataracts especially if you live in a sunny location or just as a nice accessory piece to complete your outfit.

The demand for sunglasses will not go away and if you already sell goods that are associated with sunglasses (fashion apparel, sporting goods, etc.) 

it can add to and enhance your brand's image.

 

Price:

Sunglasses are a well-established commodity industry that keeps costs low and competitive.

Creating a unique design by creating a mold is expensive, but now much easier than before.

However, if you are looking for a style that doesn’t need retooling or an existing mold it can lower your costs even more!

Place:

As previously mentioned your location whether it be in person through the point of sale or online through a marketplace or website.

You need to find a location that fits your desired customer base.

For sunglasses locations near beaches or in the desert are a safe bet.

Promotion:

If you choose T H Sunglass as your wholesaler we can provide product photos that will help reduce your overall costs.

This saved money can then be redirected and focused on the final "P".

Promotion can make or break your brand.

Every company strives to become stuck in their consumer’s heads and make their brand name represent the item itself.

(Think Kleenex) You need to create thoughtful advertising that sticks with your ideal customer base and keep fine-tuning it along the way.

Of the risks mentioned above finding a good wholesaler is one of the most important factors.

Having a good brand ethos, without reliable products behind it will eventually collapse on itself.

T H Sunglass has been in the industry for over 30 years and with our experience, we can provide the products to elevate your brand to the next level.