Best Practices for Fashion Retailers in 2020 - Offer an Elevated Omnichannel Experience - PowerPoint PPT Presentation

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Best Practices for Fashion Retailers in 2020 - Offer an Elevated Omnichannel Experience

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A successful omnichannel presence is a must for a brand. The blog will walk you through the best practices that any fashion retailer must follow. Read on to learn how to stay tall in the competition while offering a streamlined, unified, and smooth user experience across all touchpoints. – PowerPoint PPT presentation

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Title: Best Practices for Fashion Retailers in 2020 - Offer an Elevated Omnichannel Experience


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Best Practices for Fashion Retailers in 2020 -
Offer an Elevated Omnichannel Experience
https//katalysttech.com/
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Omnichannel retail is the new norm. The fashion
landscape is changing fast as more and more
customers are becoming omnichannel shoppers. This
breed of customers employs at least one digital
channel in their shopping journey. Precisely,
fashion retailers are dealing with a new class of
customers. They explore products on the website,
gather reviews from social media, compare prices
on online marketplaces, and buy it from the
physical store. And by any chance, if your brand
is not available on any of the channels, your
future is bleak. While may it sounds depressing
this is the reality!
Your limited presence can abate your brands
reach against your digital counterparts, thereby
putting a full stop on your journey. According to
Apparel Omnichannel Survey by Mckinsey, The
average omnichannel customer purchases 70 more
often than an offline-only shopper and reports
spending more than 2,000 on apparel each year.
The figures indicate that customers are moving
faster than retailers can anticipate. This is
also why a concrete omnichannel strategy is
essential for long-term sustainability.
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  • Omnichannel Retail Orchestrating Unified
    Customer Experience
  • The term is simple to understand yet complex to
    implement. Omnichannel retail connotes to a
    strategic business model that demarcates the
    business presence in a full-fledged digitized
    economy. The intent is to offer a seamless and
    fully-integrated buying experience across all the
    possible touchpoints which customers use to
    interact with bran. Regardless of the type of
    store your brand must deliver consistent and
    robust value, coupled with excellent
    user-experience.
  • Best Practices For Flawless Omnichannel
    Fulfillment
  • Undoubtedly, it puts pressure on retailers. They
    not only have to manage multiple channels
    simultaneously but also craft specific strategies
    for each channel, creating synergies at the brand
    level. To further electrify the situation,
    customer preferences keep on changing, forcing
    fashion brands to remain agile and adaptive at
    the same time. Whether you operate in an emerging
    market or a matured market, you should follow
    these best practices to drive profitability and
    strengthen the bottom-line of your business.
  • Optimize every channel Channel optimization is a
    determining factor for omnichannel success.
    Including a channel for the sake of competition
    is unhealthy until you make customer-centric
    investments for growth. Every channel offers a
    different and viable opportunity as customer
    expectations differ across channels. You must
    define signature moments for every touchpoint and
    create an action plan to deliver them at the
    right time to the right customers. It is
    recommended to locate the points of engagement
    and reinforce them to appease the shopping
    experience.

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  • Work on your digital capabilities Digitization
    is embracing every vertical, and the fashion
    segment is no exception. Advanced technologies
    are offering multiple ways to digitize every
    channel, whether it is in-store or online it is
    now possible to enhance the user experience by
    leveraging technology. Chatbots, virtual
    stylists, virtual trial rooms, apparel
    customization software, digital catalogs, 3D
    visualization are some of the interventions
    showcasing how brands are employing tech in
    fashion for creating an immersive environment. As
    a fashion brand, you must give up on the
    piecemeal approach and seize new business
    opportunities while serving the customers through
    digital transformation. 
  • Offer personalized experiences Personalization
    is mandatory if you wish to offer a best-in-class
    omnichannel experience. It can be a key
    differentiating factor when it comes to enticing
    customers with tailor-made suggestions and
    recommendations. Personalization rests on the
    premise that every customer is unique and should
    be offered a bespoke experience for long-term
    engagement. Thus, fashion retailers must strive
    for personalization on every channel. You can
    craft a customized merchandise strategy tailored
    based on what your customers value when they shop
    through a specific channel. Apparel customization
    and fashion personalization is a leading strategy
    that empowers customers to design their own
    outfits online and in a physical store. At the
    same time, they enjoy a highly engaging shopping
    experience. It is recommended to remove channel
    silos for a seamless shopping experience. 
  • Focus on table stake as well as differentiating
    factors Irrefutably, differentiated experiences
    can drive higher margins when managed
    strategically. Fashion brands must understand
    that table stake factors are bare minimum
    requisites for every channel and cant be
    compromised. Surprisingly, their presence may not
    lead to customer satisfaction however, their
    absence may cause customer dissatisfaction. For
    example, shopping convenience is a table stake
    factor that should be available across all the
    touchpoints. However, it cant create a
    competitive advantage unless coupled with
    innovative strategies to attract, retain, and
    foster relationships with the customers.

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  • Create actionable insights Lastly, it is equally
    essential to understand a customer journey map
    across different channels and capture the right
    data and convert it into meaningful analytics
    that can support decision making. It is futile to
    offer a one-size-fits-all solution to your
    customers instead, you must study their
    behavior, shopping patterns preferences,
    motivations, and sentiments by relying on big
    data and artificial intelligence. When customers
    are offered data-driven practical and highly
    personalized experience, shopping becomes fun for
    them, which is one of the most compelling levers
    for achieving customer delight.
  • Katalyst Technologies Your Ideal Digital Partner
  • The retail framework will keep on evolving as new
    trends will penetrate in the economy. However,
    customer experience will always remain evergreen
    inspiring brands to invest in the right
    technologies to cater to their customers who are
    unique and demanding. If you are a fashion
    retailer or manufacturer with a spark to excel in
    omnichannel retail, you must collaborate with the
    right partner who can help you to streamline your
    brands presence across all the channels.
    Katalyst is a leading company that facilitates
    the digital transformation of the businesses by
    helping them embrace and employ disruptive tech
    in their business model.
  • Let us hear from you.
  • Source Link - https//katalysttech.com/blog/tips-f
    or-fostering-omnichannel-experience/

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Demo Form https//katalysttech.com/free-demo/
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  • Katalyst Technologies is a leading IT services
    and solutions company servicing clients in the
    manufacturing, wholesale distribution, life
    sciences, e-commerce, logistics, and retail
    sectors. We provide industry specific IT
    products, strategies and solutions for companies
    implementing large-scale and transformational
    projects. Our business and technology experts are
    highly-skilled and work seamlessly across
    multiple geographies, with a global footprint in
    the U.S, U.K, India, and Germany. We specialize
    in the areas of Digital e Commerce,
    Enterprise Resource Planning, Supply Chain
    Management, Engineering and Manufacturing,
    Professional Services and e Publishing.

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