3 Reasons You Need To Start A T-shirt Business
The Custom T-Shirt Industry Is A Popular And Growing Industry
There is a huge demand for custom T-shirts that have movie logos, games, Television series, and slogans on them. The need for these has increased exponentially in the last few years. No longer are custom T-shirts only bought by individuals. As well a t-shirt vehicle signs are also becoming popular if this is something you are interested in then see vehicle signs Surrey.
Companies today, especially start-up companies, use T-shirts as a branding strategy. This helps to increase brand awareness and garner people’s attention. T-shirts also help improve social awareness, raise your voice, and are supportive of a variety of causes. This can greatly influence the growth of the market.
According to Grand View Research, globally, the T-shirt industry has been valued at 3.64 billion US dollars as recently as 2020. The potential for further expansion is expected to exceed that, with an annual growth of 9.7 percent by 2028.
In the United States alone, IBISWorld has reported that sales of original design T-shirts online are going to surpass $516.4 million by 2021 and will only continue to grow exponentially. This has increased even faster than retail sector sales making T-shirt making an excellent income opportunity.
COVID-19 Accelerated Sales
Custom T-shirt sales have accelerated thanks to Covid-19. While Covid was busy negatively affecting most sectors, it has increased exponentially online. Fashion, thanks to its discretionary nature, is very vulnerable. In Europe and the United States, over 65 percent of consumers have decreased their purchases, except online.
Thanks to the pandemic, online sales have grown and will continue to grow. Data from Adobe Analytics has shown that T-shirt sales jumped as much as 47 percent in 2020. Per the SinaLite Marketing Data, after Covid hit North America, the number of T-shirt orders continued to spike as much as four times that of the pre-pandemic numbers. That’s at least a 330 percent increase in sales. Wholesale customers increased by as much as 16 percent.
Why That Happened
One possible explanation is that people shifted to more comfortable clothing. They were staying home and wanted comfortable clothes to wear instead of business attire.
T-shirts are affordable. They’re easy to make. This makes them an ideal brand to make and sell as a business. The average T-shirt costs less than $7 to make. Name-brand T-shirts can sell for as much as $40 to $50 and upwards.
Another reason is that T-shirt sales were purchased to help support small businesses during the pandemic and beyond.
For example, the founder of DS Projects, Dylan Hattem, launched a relief initiative called “This T-Shirt” on Instagram. The goal was to raise $20,000 for small business support and charity. The amount was quickly exceeded.
Selling T-Shirts Is Ideal For Making Extra Cash
Per Reuter’s analysis, the United States economy ended in the year 2020 with as many as 9.4 million fewer jobs. As many as 3.37 people permanently lost their jobs during this time.
Many have had difficulty paying off their bills, or worse, they had to dip into their savings to make ends meet. Still, others had to borrow from banks and friends or even family. Many had to resort to the food bank to eat.
The deeper we dig, the more we realize the lasting impact of Covid-19 on society as a whole. The more we see the necessity of having multiple sources of income.
The good news? It’s never too late to start another income stream. You can start today by launching your own T-shirt printing business.
Everyone owns a T-shirt, and many own more than one T-shirt. For this reason, a T-shirt business just may net you more income in a short period of time. If your T-shirts deliver a message and that message resonates with others, you’ll have even more customers.