|sowmya||Oct-21st , 2019||0 comments|
Today’s customers know exactly what they want and how they want it. The fashion retail industry is constantly evolving to meet this demand. Here are 3 trends that you MUST know if you want to keep up.
Even as the digital world prepared to declare the death of brick and mortar stores, studies show that it isn’t so. Nearly 80% of total retail sales in Asia Pacific still happens in physical stores. Many digital native brands have recognized this need to have physical stores, and as reports show, are planning to open up nearly 850 physical stores in the next five years. These brands include the likes of lingerie startup Adore Me, which plans to open 300 stores in the next five years, and athleisure footwear company Allbirds plans to open stores in four cities in the next year.
The clicks-to-bricks retail trend, as it is being called, does not mean that e-commerce isn’t important. In our recent blog on Phygital, we discussed the importance of marrying the strengths of digital selling with those of physical stores. This opens up the need for seamless integration between e-commerce and physical stores, a challenge which can only be met by efficient fashion retail software..
“Custom-made” and “made-to-order” have always held an allure for shoppers the world over. This personalization extends from personalized recommendations to custom products and packaging. A Deloitte study showed that 1 in 5 consumers are willing to pay a 20% premium for personalized products. Consumers have a choice and they want a tailor-made product.
A good fashion retail software helps you integrate this customization throughout the customer journey. RetailbeanLite, for example, allows you to build your e-commerce on top of the fashion retail software. This helps right from gaining actionable insights into your customers shopping behavior to allowing them to customize the products as they like it. Bespoke tailoring on cloud by RetailbeanLite, for instance, allows customers to order made-to-measure clothing. This can be extended to include personalized monograms or embroidery or anything else that the customer needs to make it one-of-a-kind.
While we discussed the clicks-to-bricks trend, omnichannel goes one step beyond that. Customers are shopping through various channels – websites, mobile apps, physical stores, social selling and more. “Shopping journeys now go through a variety of branded touchpoints, digital for sure, but physical touchpoints too, and they are nowhere near linear shopping journeys,” says Ray Hartjen, Marketing Director at RetailNext. “Brands need to be nimble, agile and responsive to shopper needs, and they need to deliver seamless, friction-free paths for their shoppers to navigate.”
The lines between shopping channels have blurred, creating a need to provide a holistic approach to the complete shopping experience. An omnichannel retail solution provided by fashion retail software, which helps retailers create this seamless experience is an absolute must.
Keeping Up with Fashion Retail Software
These are just 3 trends to look out for in fashion retail. Stay tuned to our blog for more! Meanwhile, check out RetailbeanLite, and see how it can help you keep up with these 3 fashion retail trends.