Fashion Retail: fashion within the retail industry.
Fashion retailers tend to prioritize revenue expansion and customer acquisition, optimizing operations to offer frequent assortment changes, as these constant changes have been shown to increase store or website traffic.
The term "fashion retail" refers to retailers found in the fashion industry. This sector tends to be one of the most innovative within retail and also lends itself to studying and testing different marketing and sales ideas due to the constant changes in consumption and its young and technology-dependent audience.
There are currently endless ways and tools for distribution and marketing in the fashion industry. Physical stores and digital media coexist to be able to expand their demand, inform the consumer and improve the shopping experience. Through discounts, capsule collections, online sales, social networks or fashion films, brands have created a new relationship with the customer. Today, we want to tell you about the "fashion retail" trends that you should know about.
Currently, there are three trends that are extremely important within this industry:
- Handy. The company has the duty to facilitate the purchase as much as possible. Focusing on the consumer is essential for this reason, it is necessary to seek and enhance the facilities, the variety of products and the most adjusted price. It should be taken into account that the customer wants his product at the time he needs it, not necessarily during store opening hours.
- Omnitech. Omnichannel has been a before and after within the retail industry. If we add to that an accompaniment during the customer journey, we have a really competitive offer. Technology must always be present in all strategic sales decisions, since it improves the shopping experience and allows the product to always be given in a personalized way.
- Diversegment. We have to get rid of traditional sociodemographic profiles. It is useless to segment by age or sex when the patterns are increasingly diluted. Adaptability to different lifestyles will play a priority role in meeting our target audience.
The key to macro trends...
When we talk about macro trends we find many of great interest, for example, it is worth highlighting the "Stand Out"; the consumer's search for a different product, that stands out and that can shine. Here, we no longer only base ourselves on the price or the quality of the product to make a decision, but also on other more intangible elements.
On the other hand, an interesting concept is that of "Fun Catchy", a trend that seeks to connect with the consumer based on fun. A sponsorship, a promoted experience... everything to link a concept (original, modern, artistic, etc.) with a brand.
We cannot finish this article without first placing special emphasis on inventory management. Reducing errors and mitigating out of stock is essential for the commercial success of any strategy that is applied, since this is something that can lead to lost sales and dissatisfied customers. Among the ways in which inventory management can help reduce out-of-stocks are the following:
- Automatic replenishment of stocks.
- Accurate inventory tracking.
- Planning of seasonal stocks.
- Wholesale purchase.
- Planning of periods of maximum demand.
- Use of drop shipping providers.
- Outsourcing of order fulfillment.
And the best way to manage it all is through QuartzSales, which, being completely customizable according to the needs and commercial objectives of our clients, fits perfectly into any segment of the retail industry, offering you agility in each task in order to increase your productivity, reduce your expenses, manage orders and everything you need to help you build the perfect store.
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Until next time! ;)