Active wear is not merely for workout sessions anymore. In fact, people are wearing active wears at many places other than their gym or yoga classes. The Active wear industry in the US is estimated at 58 billion USD in which 29% is contributed by athletic footwear while 71% is contributed by apparels. The industry experts have predicted the sales rise of 2-5% every year as far as Active wear industry is concerned on account of changing lifestyle of the consumers.
Everyone aspires to be fit these days, which bolsters this business opportunity. These statistics indicate a global opportunity to venture into online active wear business by setting up a wholesale activewear sets marketplace. The requirement for premium, lightweight, execution driven specialized active wear that is tailored for functional purpose, for example, snowboarding, yoga, cross fit, dance and aerobics, is evergreen. A great deal of dynamic brands might look up to date yet sometimes neglect the purpose of the apparel. Along these lines, specialized active wear has a chance to make an imprint – another incredible open door to your new wholesale active wear business.
Venturing into an online active wear business is much more than finding the manufacturers producing stylish gym apparels and accessories. You will need to gain insight into the dynamics of this business and keep a close eye on how this business will thrive in the future. Before setting up a wholesale active wear sets marketplace, you must perform strategic analysis of this wholesale business in terms of the market size and choice and preferences of the end consumers living in the area you are thinking of catering to with your wholesale active wear business. So, you need to follow certain steps if you wish to set up an online wholesale activewear business.
Firstly, you need to create a business plan, which will act as a road map and guide you in your business operations. Then, you need to take care of finances. For this, you need to organize your cost sheets, create purchase and sale order forms, and ultimately, network with various manufacturers, importers and re-sellers to create a strong supply chain network. Creating a strong, reliable and dynamic supply chain network is the key to success in the wholesale business.
Although, you are not dealing with the end consumers directly, but their choices and preferences have a huge impact on your wholesale business. Thus, you need to choose your re-sellers wisely. You need to collect market data from your re-sellers to improve your wholesale business continually, in terms of introducing new products.