Partnerships and brand collaborations are effective ways to build your business and venturing into new markets. Learn how the Omnilytics fashion retail data platform can help you identify brands to collaborate with in this article.
Step 1: Identify complementing categories
Look for complementing categories for the partnership. For example, if you are selling bags, you will be looking at partnering with a brand for shoes. You can research on the type of shoes and the brands to partner with on our Trends Performance module.
In this example, we are looking to collaborate or launch a partnership campaign with a shoe brand in the US market. We selected the US market and the shoe category from the main filter. The price range was also narrowed to products within USD50 to USD100. From the analysis, flats, sandals & flip flops and espadrilles showed fairly high trend score compared to the other sub-categories.
Step 2: Determine the rights brands to collaborate with
Its really important to ensure that the brands that you want to collaborate with emulates the same vision and values as your business. This is to ensure you maximise the benefit of the collaboration and tap into the right market.
From the 3 sub-categories identified, select the sub-category that is most aligned with your brand. Click into the product thumbnail and scroll down to the product visuals to identify brands that would compliment your brand.
Here are some of the factors to consider when deciding on the right brand(s) to collaborate with:
- Brand goals and values
- Target market (eg. mass, masstige, luxury, etc.)
- Brand fashionability (eg. basics, fashion, lifestyle, etc.)
Effective brand collaboration is important to make sure the partnership is fruitful and long lasting.
Hope you found this article helpful! If you have any questions or would like to explore the Omnilytics dashboard further, feel free to reach out to your respective Client Success Manager.