(Newswire.net — December 31, 2020) — Given the current situation with the pandemic, many businesses have now adjusted to setting up an online retail sales store in order to maintain their profits and customer satisfaction. Even though it has been hard for some major companies to keep up with many high demands, it’s actually become a golden opportunity for small brands such as Little Luxury Closet to grow.
There is uncertainty for the future as to when mortar-and-brick locations will go back to business, but the e-commerce business is here to stay. It’s estimated that this type of industry will be worth $4.927 billion dollars in 2021. There are currently over 2.14 billion people worldwide that are using online services or buying goods.
Little Luxury Closet has chosen to expand their delivery services and make it worldwide, knowing that they are in a market that will always be in demand. The niche is selling children and baby clothes that are trendy and stylish. The founder of the business Paulette Sharov, explained that, “I was inspired to create the company because I’ve always been passionate about fashion and even dressed up my nieces and nephews. I knew that this kind of niche was unique and wanted to develop a business based on that.”
What the future holds for e-commerce businesses
According to research carried out by Nasdaq, it is estimated that 95% of retail purchases will be made online by 2040. It was recorded by Statista that in 2019 that 14.1% of all retail sales worldwide was done online and it’s estimated to grow to 22% in 2023.
Startup companies are now finding it easier to be a part of this current long term trend and have been majorly successful and growing more rapidly than ever. Major businesses will now have to adjust to using the structure of omni channels in order to interact with customers, but small online startup businesses have already started out with this form of structure, giving the leeway on successful online growth.
What made Little Luxury Closet stand out
The founder of the company Paulette was already familiar with the online digital world and saw how other businesses operated successfully through social media. She explained that, “The power of social media presence is greater than what we think it is. I started an instagram account and promoted my brand that way and gained over 30,000 followers in a short time frame.”
However, the online brand grew even more popular when celebrities such as Lil Baby, Toya Wright and Queen Naija bought clothing items for their children. This resulted in the now popular “moonshine jacket” being sold out after parents saw the celebrity babies wearing it.
The instagram account shortly gained another 30,000 followers and the brand has had major attractions from customers ever since.
Founder Paulette originally had the idea for the business in 2019, but it wasn’t until this year in April she had the inventory ready for sale. “I am honestly proud of the success my company has had so far and it does have the potential to continue growing in the new year.” she says.
Little Luxury Closet is an online store and does not have a physical store. Even though there is a possibility of a physical store in the near future, Paulette believes that it’s actually easier to operate online and have your business grow that way first.
Even though it has been predicted that at least 42% startup companies fail because there’s usually no market, that wasn’t the case for this luxury children’s fashion brand. Startup companies are becoming increasingly popular, with 35% of workers in the U.S. being freelancers.
In a way, the pandemic has given the chance for small businesses to grow online and has proven that entrepreneurs can beat the odds when there is such a high demand by customers. Children’s apparel is expected to be worth $232,085 million by the end of this year and has seen an 8.9% increase. The U.S is in the lead worldwide when it comes to selling children’s clothes, with the expected revenue of $40,114 million this year for this market in particular.