Post on 19-Mar-2017
transcript
� Ecommerce giants like Amazon and Alibaba are a competitive threat� Technology is advancing Aand becoming the center of attraction � World-wide inflation rate will amount to 3.28% in 2017 and 2018� ‘Made in USA’ labels will suffer across the globe due to political tension� Terrorism is a menace to an industry that drives 40% sales from tourism� Devaluation of sterling post Brexit burdens retailers as prices rise on imports
CURRENT CHALLENGES TO OVERCOME
THE BRIGHT SIDE!
SPOTLIGHT ON DIGITAL SHOPPERS
SALES GROWTH STRATEGIES FOR FASHION RETAILERS
� Use modern technologies for in-store shopping
� Share HD media files with 5G internet by 2020
� Make online store website with shopping cart
� Digitize pop-up stores for latest collections
� Engage buyers with mirror catalog displays
WHAT IS IT “Omnichannel represents more than simply adding mobile and social
media to the mix” - Jason Bloomberg, Contributor, Forbes
#2 CREATE A SEAMLESS OMNI CHANNEL EXPERIENCE
� Share stories starring celebrities with your products
� Use Shoppable tags for fast fashion: ramp to shelves
� Cater to a niche. Don’t target to everyone online
� Personalize marketing for specialty boutiques
� Do a collaboration for an extra edge over rivals
� Outreach influencers to be brand ambassadors
INSTAGRAMMABLE PHOTO TIPS� Put spotlight on one fashion item � Tell a story via photo composition� Show customer generated images � Display product versatility
LEVERAGE THE POWER OF VISUALS ON INSTAGRAM
� Offer virtual fitting-rooms with 3D simulations
� Use hologram and video-mapping devices
� Make augmented reality app for personalization
� Do a collaboration with tech-based companies
#3
FASHION RETAIL FACTZeekit app lets shoppers virtually try on clothes before buying
USE HYPER-REALITY FOR PRODUCT CUSTOMIZATION
25% OFF
MANDY
10% OFF
50% OFF
� Improve point-of-sale solutions for mobile shoppers
� Tap on digital wallets via secure payment systems
� Give in-store smartphone payment service to buyers
� Offer complete buyer’s journey on your business app
VALUE OF DATA “In fashion retail, there’s a big demand for real-time data to
offer great customer services.” - Uwe Hennig, CEO, Detego
#4 ADOPT MOBILE PAYMENT SYSTEMS FOR ONLINE BUYERS
� Do conversational commerce via messaging apps
� Make online chatbots your brand ambassadors
� Use voice and face recognition tools
� Deliver hyper-relevant content in real-time
#5
FASHION RETAIL FACT Nordstrom launched TextStyle, a personal assistant for messaging apps
PERSONALIZE RETAILER-TO-CUSTOMER COMMUNICATION
� Use RIFD device to track product inventory
� Manage an efficient product delivery system
� Practice digital supply chain to share content
� Use cloud technologies with web services
� Fast-track trends and get rid of inventory
� Segment shoppers and fulfill demand
TOP TIPGuard your digital assets and produce original content
#6 HANDLE YOUR DIGITAL MARKETING LOGISTICS
� Adhere to search engine policies and updates
� Keep improving keyword search on your website
� Avoid heavy graphics that won’t run on mobile
� Register on credible local business directories
#7
WHO LOVES YOU “Google only loves you when everyone else loves you first.”– Wendy Piersall, Entrepreneur
OPTIMIZE YOUR FASHION RETAILING BUSINESS ONLINE
� Bid on PLAs in Google Shopping for PPC
� Run consistent ad campaigns across media
� Maximize CPC with Bid Adjustments
� Use social media targeted ads for CTR
TOP TIPAlways do geographic, demographic and
psychographic analysis of shoppers
#8 BOOST BUSINESS REACH TO A GLOBAL AUDIENCE
growth for apparel retailers with D2C opportunities is predicted - Moody's Investors Service7%billion of online sales in the fashion industry expected in 2017 - Retail Week Reports
growth for menswear market in the next three year - Financial Review2.3%
£7.5
of millennials patronize social media platforms
of people use digital screens for in-store shopping
of internet users own a smartphone
of people’s time is spent mobile apps
86% 54% 80% 90%
BONUS IDEAFASHION TRENDS FOR 2017
Design for thedisable
Create sustainableapparel
Fast fashion: fromramp to store
Offer affordableluxury fashion
Make customcollections
3D printed accessories Smart textile wearables
Data driven fashion
HOW WILL YOU ENTICE DIGITAL SHOPPERS THIS YEAR?Find more ideas on our blog.
GLOSSARY:
D2C (direct-to-consumer)RIFD (radio-frequency identification)PLAs (product listing ads)PPC (pay per click)CPC (cost per click)CTR (click through rate)
Sources: HTTP://WWW.THEAUSTRALIAN.COM.AU/LIFE/FASHION/BURBERRY-HIL-FIGER-FORD-LAUREN-GO-FOR-DIGITAL-FASHION-SALES/NEWS-STORY/B8D9EE8CDCAD3CC9DDA1C6A79E7B6D10HTTPS://WWW.STATISTA.COM/STATISTICS/256598/GLOBAL-INFLATION-RATE-COMPARED-TO-PREVIOUS-YEAR/HTTPS://WWW.FT.COM/CONTENT/D6115A12-E46B-11E6-9645-C9357A75844AHTTP://WWW.NEWSTALK.COM/THE-FUTURE-OF-FASHION--MERGING-TECHNOLOGY-WITH-DESIGN-HTTP://WWW.LEXOLOGY.COM/LIBRARY/DETAIL.ASPX?G=5D17A978-89C8-43B4-A103-8AF05627649CHTTP://WWW.RETAILDIVE.COM/NEWS/MOODYS-2017-WILL-BE-MOSTLY-STABLE-FOR-RETAILERS-BUT-TRAFFIC-CHOPPY/432543/HTTPS://WWW.BUSINESSOFFASHION.COM/ARTICLES/INTELLIGENCE/KAR-LA-MARTINEZ-LATIN-AMERICAN-FASHION-PLAYERS-WILL-COME-INTO-THEIR-OWN-IN-2017HTTPS://WWW.VENDHQ.COM/UNIVERSITY/RETAIL-TRENDS-AND-PREDICTIONS-2017HTTP://WWW.BUSINESSINSIDER.COM/THE-MOBILE-PAYMENTS-RE-PORT-MARKET-FORECASTS-CONSUMER-TRENDS-AND-THE-BARRIERS-AND-BENEFITS-THAT-WILL-INFLUENCE-ADOPTION-2016-5/?R=AU&IR=THTTP://WWW.CISCO.COM/C/DAM/EN_US/ABOUT/AC79/DOCS/RETAIL/CATCH-AND-KEEP-THE-DIGITAL-SHOPPER_POV.PDFHTTP://WWW.SMARTINSIGHTS.COM/MOBILE-MARKETING/MOBILE-MARKETING-ANALYTICS/MOBILE-MARKETING-STATISTICS/HTTP://WWW.AFR.COM/LIFESTYLE/FASHION/FASHION-ABLE-MEN-ON-THE-RADAR-AS-SALES-GROWTH-IN-MENSWEAR-OUTSTRIPS-WOMENSWEAR-20170113-GTR32D
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#1
Who doesn’t want more sales? From luxury fashion houses to high-street apparel studios, everyone wants business growth in this
digital age. Nevertheless, 70% of the surveyed industry observers believe conditions have worsened. 2016 wasn’t a bright year but it doesn’t mean future has to be depressing. It’s time for fashion retailers
to snap out of the slump! These proven strategies will skyrocket your sales in the years to come.