The strategy focuses on expanding leather bags, belts, and accessories into international markets. It begins with comprehensive market research to identify lucrative international areas for leather products. This involves analysing competitor brands, understanding consumer preferences, and assessing pricing strategies. Additionally, legal requirements and cultural influences on product appeal are considered, along with distributor and retail partner identification.
Developing a strong online presence is another crucial strategy. This includes creating a multi-language website, implementing SEO for global reach, and leveraging social media and influencers. Ensuring customer support and offering international shipping enhances global engagement.
Lastly, establishing distribution and retail partnerships is pivotal. This involves identifying reliable international distributors and negotiating terms. Building relationships with retail chains and providing sales and branding guidance are vital steps. A robust logistics system ensures timely delivery, with quality control measures in place to maintain standards.
The strategies
⛳️ Strategy 1: Perform comprehensive market research
- Identify potential international markets with high demand for leather products
- Analyse competitor brands operating in those markets
- Understand consumer preferences and trends in targeted regions
- Determine pricing strategies suitable for each market
- Research legal and regulatory requirements for importing leather goods
- Identify environmental and cultural factors influencing product appeal
- Pinpoint distributors and potential retail partners
- Calculate import duties and taxes on leather goods
- Conduct a SWOT analysis for each target market
- Collect consumer feedback through surveys and focus groups
⛳️ Strategy 2: Develop a strong online presence
- Create an international-friendly website with multiple language options
- Implement an SEO strategy targeting international keywords
- Utilise social media platforms popular in target markets for brand advertisement
- Collaborate with international influencers for product endorsements
- Provide online customer support catering to different time zones
- Include an easy-to-use international shipping option
- Display product pricing in multiple currencies
- Ensure mobile optimisation of the website for global users
- Create online advertisements specific to each market
- Offer virtual consultations and showcase options for customer engagement
⛳️ Strategy 3: Establish distribution and retail partnerships
- Identify reputable international distributors specialising in fashion accessories
- Negotiate terms and conditions with potential distribution partners
- Set up a local distribution centre in a strategic location
- Build relationships with international retail chains
- Provide sales training and branding guidance to retail partners
- Offer promotional partnerships with local retailers
- Coordinate exclusive product launches or events with partners
- Implement a robust logistics system for timely product delivery
- Establish quality control measures at distribution points
- Monitor and evaluate the performance of distribution channels regularly
Bringing accountability to your strategy
It's one thing to have a plan, it's another to stick to it. We hope that the examples above will help you get started with your own strategy, but we also know that it's easy to get lost in the day-to-day effort.
That's why we built Tability: to help you track your progress, keep your team aligned, and make sure you're always moving in the right direction.
Give it a try and see how it can help you bring accountability to your strategy.
