Business News | Fashion Retail: Improving Digital Capabilities for Growth
New Delhi [India]August 30 (ANI/Mediawire): Driven by digital convergence, fashion brands using personalization are able to better understand their customers, respond to market trends and adapt their sales.
The Indian fashion industry has evolved over the past few years, along with changing consumer behavior. The rise of e-commerce, new age start-ups and advancements in technology are the major factors that have fueled the growth of the Indian fashion industry to its current form. Businesses have also transformed in the era of digitalization, cutting-edge technological innovation and rapidly changing consumer needs and trends, as well as sustainability.
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Focus on customization
Technology has become the center of fashion personalization. Fashion customization brands aim to provide consumers with personalized fits and styles that are unique to their body type and style preferences.
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Fashion retail is one of the largest categories with the most direct-to-consumer (D2C) brands. Businesses have realized that D2C is not just about selling directly or getting better margins, it has more to do with a better customer experience. Brands plan their future growth strategy with full visibility into customer data and direct access to leverage consumer brand loyalty.
Foster consumer engagement
Consumers value the personalized experience of the offline shopping world and expect the same online these days. While face-to-face personalization relies on the observation and relationship of the salesperson with the consumer, technology-assisted personalization relies on automated tools. It combines cognitive technologies that collect and analyze historical consumer data and seek to enrich or build the customer relationship. Global navigation also changes based on customer preferences, and brands can filter products accordingly.
Use of localized and targeted content
Brands seek to maximize their growth by using localization. While entering new geographic markets is known to be one of the most popular ways to grow, second only to mergers and acquisitions (M&A), brands that have not yet succeeded need to adapt their products and services to attract their buyers to regional markets. . Changing the style and tone, using more cultural references or payment methods makes the product look very localized. This helps to build trust, improve brand recall and therefore boost sales.
The path to purchase is no longer linear
A customer today has much more information than he had before. So the type of experience the customer is looking for, whether personalization or discovery, they expect to be consistent. Brands rely more on consumer culture to influence others. With technology-based retail no longer the only option, influencers have become an important aspect for fashion brands today. Therefore, customization would play a very important role in the field of fashion.
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