Digital Innovation in the Fashion & Apparel Industry
The fashion & apparel industry are significantly contributing to global economy. Fashion is one of the most challenging fields, highly impacted by global economic uncertainty as well as distinct trends, cultures and industrial dynamics. For many years, a large part of the product range has only changed regarding design, material, or color combinations. However, consumers are steadily challenging the value proposition of companies.
Shift in the Role of Consumer
Today’s consumers want to interact, belong, influence and demand what they want to buy. Informed, selective, and in charge, they care about how they look in public, on social media, and about the perception of the goods they buy and own. Most consumers use digital channels before, during or after making their purchases. The role of the consumer has shifted from one of passive observance to enabled dominance.
Digital transformation – How to go about it
How to go about Digital Transformation? How to find the right balance between placing bets – provoking fast results with innovative ideas – and building the solid ground for the digital transformation. How to gather the relevant data and unleashing the power of analytics? What do you need to digitize for managing brand and reputational risks, managing the full value chain?
It’s simple – start with “Product Digitization”. Think about it. Your entire company exists to make and move and sell physical products to consumers who buy and use and love those same physical products. Your physical products touch every part of business that really matters every process, every decision, every customer interaction is in some meaningful way about your products,
Digitize your products and you will digitize every part of your business that really matter.
Digitized Product ID (QR Code, NFC) is a key enabling technology as it can provide item-level visibility for almost any merchandise item. Visibility is the key foundation for new processes and applications being introduced in fashion & apparel to optimize overall performance and enhance the consumer’s shopping experience, such as factory to shelf asset tracking and inventory management, store optimization, self-checkout, loss prevention, returns management, smart mirrors and dressing rooms, location-based services, mobile shopping and promotions, and others.
Reputational risk – protecting the brand in times of change
It can take many years to build a successful brand, and it’s a journey. Fashion brands have always needed to be ready and able to respond to issues of uncertainty, risk, and reputation, in dynamic times.
One important part of this is fighting counterfeits – in order to maintain consumers’ trust on the brand... So, enable Product Authentication technologies using mobile, cloud-based services, wireless in-store technologies, and Digitized Product ID (QR Code, NFC) and let the consumers authenticate in the store in seconds.
The other important part is shift towards omni-channel. Reimagine the role of your store – in order to deliver the immersive experiences, making convenience even more convenient – to protect your brand image forever to be “favorite”.
Digital transformation is about challenging and changing ingrained perceptions about what a company is, does and says, in order to increase relevance to consumers. The shift towards omni-channel is real and growing, most fashion & apparel revenues are still driven by offline, physical channels. Thus, a key enabler for success will be to ensure a consistent omni-channel consumer experience that encompasses physical, virtual and emotional aspects, from creating attraction, engagement to conversion and beyond.
Clienteling – Defining the Omnichannel Experience
Consumers still crave a personal experience while shopping; they want connection, excitement and spontaneity when committing to their next purchase. It is the convergence of digital and traditional channels, together with the rise of consumer power, that is leading to an increased demand for cohesive brand experiences and hence the value of information and analytics is growing more than ever before.
How can retailers recreate the magic of the personal connect in the store sand treat every customer like they’ve known them for years, reconnect in a personal way and offer seamless and quick checkout? The rise of the global customer, operating across geographies and multiple channels, makes it harder for brands to understand their consumer base fully.
The answer often is Digital Clienteling for delivering a personalized customer experience across multiple channels (Omnichannel) – and ultimately improving conversion rates and revenues.
The key element of a successful Digital Clienteling strategy to deliver omnichannel experience to consumers through effective brand Influence at the touch points (“Micro Moments”) with the consumers during consumer’s shopping decision journey. And the only way to achieve that in scale is to Digitize products and Brand’s Interaction during the Micro Moments.
Products are the first touch points between consumers and brands, the so-called micro-moments. Digiting unconnected products, enables products to interact with consumers at the micro-moments-which delivers rich experience. Research shows winning micro-moments multiplies the conversion rate.
79% of consumers say they’re more likely to revisit and/or share content on mobile if it’s easy and relevant.
A one-size-fits-all approach doesn’t work, so when planning media and creative, consider the times of day and frame of mind when they turn to their phones for help. If you can match one of these mindsets, the person on the receiving end will be more receptive to your messaging. Wondering how to do this? That’s where Brandwise helps you to take your engagement to next level, to know more click here to call for a demo.