How Do I Start a Sock Business?

Do you want to start a sock business? The global socks market is expected to grow at an impressive rate during the forecast period of 2022-2026, as driven by the increasing working population. Additionally, the acceptance of socks as a part of essential accessories with different attires is further expected to propel the market through 2026. Furthermore, the growing need to maintain healthy feet, especially in athletes, gym professionals, outdoor and diabetes patients, for example, is a major trend in the global socks market. For people who are interested in developing the socks business, we recommend researching the potential socks type on different aspects and evaluate the feasibility.

What is the Trend of the Sock Market?

The global socks market is segmented mainly based on type, material, distribution channel, target audience, and region.

Based on type, there are athletic socks, casual socks, formal socks, and so on. The athletic socks segment is expected to dominate the market on account of the increasing preference among athletes and gym professionals to protect from blisters. The growing establishment of health (training) clubs and fitness are also projected to this trend.

In terms of materials segment, cotton type accounts for the largest market share at almost one-third of the total market, and of course polyester and nylon are also main materials of making socks. Nowadays, eco-friendly materials like Organic Cotton and Recycled Polyester are predicted to have strong growth due to the future trend of sustainability.

On the market side, there are segments of a physical store, online, and others based on the distribution channel. The online segment is expected to register the highest growth during the forecast period. This can be ascribed to the numerous benefits of online shopping, such as easy production selection, affordability, the option to compare products and prices, and doorstep delivery.

Last but not least, besides looking into different target audiences worldwide, the regional impact could also provide insights. Like in the U.S. which accounts for 81% of the market of North America, the consumers are growing more awareness of sustainability. As in Germany, the Covid-19 reinforces the demand for clothing accessories. Germans usually own 24 pairs of socks which makes it a lucrative market. In Australia, there’s a trend for office workers opting for colorful, funky, “statement socks” in workplaces, which shows wearing some fashionable socks can be a good way to have a bit of fun with your outfit. A “socks and sandals” style could often be seen on London streets, which turns fashion faux pas into fashion trend.

How to Recognize the Market Situation and Prepare Inventory for Your Custom Socks Business

Before youBefore you start a sock business, the first starting out a custom socks business, it’s important to start with a flexible way to get a gauge for what people want. If you order a line of items that don’t sell well, it’s nearly impossible to earn the money back. Buying the right inventory takes research and planning.

1.   Identify your target audience

Identify the customer’s age, gender, annual income that you will be selling customized socks to. This is a defining factor for the right inventory of the suitable socks styles that will sell.

2.   Research your competition

Conduct market research, utilize online tools and identify the different types of styles, price points, and materials being used. This provides insights into what people need and the prices they are willing to pay. Try to improve and stay ahead of the competitors.

3.   Create an inventory wish list:

Identify what you need to launch your business and create a budget to stay within. Remember, it’s okay to start small.

Distribution Channel for Start a Socks Business — Offline or Online?

Here are a few things to keep in mind when considering a Brick and Mortar model or eCommerce business.

Offline business (Brick & Mortar Model)

If you plan to open a physical store, it’s vital to locate in a high-traffic area. It would be easier to gain exposure and get new customers. Though the cost is high considering the rent, employees’ salary, utilities…etc, the benefit is that some customers love to feel, touch, and see the product and packing in person. Here you can learn about steps to making customized socks. Furthermore, owning a physical store could increase your customer’s trust and turn your potential customers into buyers.

eCommerce Business

One of the main benefits of operating online is that you are exposed to the entire world. This also means it’s important to have enough marketing resources to promote to the right target audience when competing with the world. The low threshold allows you to start up small and start up as a side job. However, in addition to basic business knowledge, operating a platform or self-built website also requires knowledge of Adwords and SEO to stand out.

How to Find a Custom Sock Supplier When Starting a Sock Business?

Here you can find a full guide on how to find a good sock supplier.

Decide where to look for a sock supplier

While domestic suppliers may provide high-quality items with less shipping time, the prices are usually higher than overseas suppliers which are often from China, Southeast Asia, and Taiwan. If you want to price your products competitively in the long run, we recommend you seek an overseas supplier and try to build smooth communication.

Find a good qualified sock supplier

Online search engines like Google, Taiwan Trade, Global Source, Foursource, and so on could be a quick start. It vets all of its suppliers and provides useful information needed to evaluate the supplier.

For physical options, attending industry meetups and local trade shows allow you to see the samples and vendors all at once, saving much communication time. The old fashion way of finding networking in the industry is also effective.

Launch Your Custom Socks Business Now as a Quick Start

Here are some of the most visited online marketplaces worldwide. Selling on these platforms could be a good start and ensure enough exposure. Of course, for creating a brand with a premium price, you can also establish an official website on your own or open up using tools like Shopify.

#	Name	Region	Visit/month
1	Amazon	Global	5.2B
2	eBay	Global	1.7B
3	Mercado Libre	Latin America	683.9M
4	Rakuten	Japan	575.8M
5	AliExpress	Global	534.4M
6	Shopee	Southeast Asia	457.9M
7	Walmart.com	USA	410.3M
8	Etsy	Global	391.8M
9	Taobao	China	329.4M

Start a Sock Business with Us!

What remains constantly exciting in the promotional socks market is the need for socks never goes away. Socks are always perfect items to ship to remote everywhere since they are lightweight and unbreakable. If you are considering starting a sock business and looking for a good sock supplier, feel more than welcome to work with us! We are Paultex, a sock manufacturer based in Taiwan for more than 20+ years. We offer flexible minimum order quantities for startup companies and wish to be your reliable manufacturing partner.