Fashion digital transformation



“See now, buy now” trend e time to market nel settore fashion

  • By: Tecla

The needs and desires of the fashion consumer have led to a considerable acceleration of the time to market for big players in the fashion sector: in an omnichannel context that is increasingly consumer-driven, the time that passes between a product’s launch on the runway and the chance to buy the product has dropped from the standard 6 months to a few weeks, to today’s “stream now, buy now”. Fashion addicts can now purchase must-haves in real time as they see them modelled on the most prestigious runways.

Fashion fast

 

Naturally, not all fashion & luxury brands have a global store network or the productive and logistical power to showcase the articles in fashion shows and insert them in stock at the same time.

In particular, luxury brands must speed up the time to shop, without losing the aspirational and exclusive character on which the relationship with their target is based. This balance is brilliantly illustrated by several brands that have eliminated the gap between runway and delivery of the collections.

It thus becomes crucial to act on data governance, both the consumer’s and the products’, which must increasingly follow the ambitions of the end customer, not only in terms of delivery time but also personalization.

To build an information structure on the consumer and to the consumer, and to support the need for a time to market that increasingly requires immediacy of all the channels managed, the digital information of the fashion brands must follow an integrated strategy based on three crucial steps: omnichannel commerce, product information management and personalization aligned to the customer’s normal behavior.

1. OMNICHANNEL COMMERCE

The ecommerce site of the fashion & luxury sector must include both an online sales platform and a services platform to back up instore, to stimulate both the drive to store and the mobile commerce experience at the point of sale, reducing the time of delivery to the customer to a minimum.

Inventory management that allows integrated visibility of the catalog of ecommerce and of the single points of sale to identify the fastest and least expensive delivery method, enabling the transfer of articles between one point of sale and the other and managing functions like ship from store, reserve in-store and click and collect, proves to be a crucial driver in permitting companies to succeed in the competitive arena of fast fashion.

Explore the subject of Retail Omnichannel Commerce in the specific IDEAS section

2. PRODUCT INFORMATION MANAGEMENT (PIM)

The short lifecycle of the product (approx. 6 months) and the trend towards continuous change, make it essential to have an optimized product information management system, originally contained in the ERP, by adopting a Product Information Manager that improves the customer experience on all channels and guarantees complete and correct product information over all the channels and for different goals (paper catalog, web, social, B2B, etc.).

Explore the subject of PIM in the fashion sector in the specific IDEAS section

Fashion Product Information Management

 

3. PERSONALIZZAZIONE & CUSTOMER INSIGHT

Data analysis tools that enable a single overview of the contacts, including their reactions online and in-store, their purchase behavior and their interests, make it possible to create a profile to which the fashion brand must respond by personalizing both the commerce offer and the correlated contents created ad hoc.

A strategic reading of the instore shopper experience data is made possible by implementing Clienteling systems, the point of sale’s actual CRM , which allow personalization of the customer experience by viewing the purchase log, preferences, wish-list, sizes, and as well as activating shop assistants to make relevant up selling and cross selling proposals.

The data gathered in-store, thanks also to the use of technologies like Wi-Fi and Beacon, must be naturally integrated with the CRM and with the ecommerce platform, so that the online shopper experience is coherent and seamless with the physical channel.

To complete this journey focused on personalization, it is necessary to integrate evolved web content management solutions with the ecommerce platform on the online channel. This is to propose targeted product recommendations and shoppable contents to the customer that are in line with their interests.
These solutions are the perfect response to the trend of experiential ecommerce, where content and ecommerce data “collaborate” for a valuable customer experience, as well as to the need to speed up time to market as it uncouples the changes to the front of the ecommerce site from the IT area. This enables a significant reduction in the timing required to on-board new products.

The digital transformation journey for the fashion world proposed by Tecla is based on a business oriented analysis of the specific needs, on our purchase expertise with big players of the fashion & luxury sector with the best technologies available, including:

IBM WCS Commerce, IBM WCM, Coremedia LiveContext, PIM Product 360° of Informatica, Sap Cloud For Customer, IBM Sterling Store Associate, IBM Commerce Insights and IBM Digital Analytics.

Contact us to find out more about omnichannel commerce in the fashion sector

 

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