Fashion E Commerce – Mogo Theme http://mogotheme.com/ Tue, 20 Sep 2022 06:32:00 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://mogotheme.com/wp-content/uploads/2021/07/icon-4-150x150.png Fashion E Commerce – Mogo Theme http://mogotheme.com/ 32 32 ET Ecomm Summit 2022: How fashion tech platform Fashmates is redefining the e-commerce retail shopping experience with personalized style and attire https://mogotheme.com/et-ecomm-summit-2022-how-fashion-tech-platform-fashmates-is-redefining-the-e-commerce-retail-shopping-experience-with-personalized-style-and-attire/ Tue, 20 Sep 2022 06:32:00 +0000 https://mogotheme.com/et-ecomm-summit-2022-how-fashion-tech-platform-fashmates-is-redefining-the-e-commerce-retail-shopping-experience-with-personalized-style-and-attire/ Amid two unprecedented pandemic waves, e-commerce has evolved into a disruptive force in the retail industry today. In 2022, the Indian e-commerce market is expected to grow by 21.5%, to reach $74.8 billion. It is expected to continue growing for 188 billion US dollars by 2025 compared to US$46.2 billion in 2020, according to an […]]]>
Amid two unprecedented pandemic waves, e-commerce has evolved into a disruptive force in the retail industry today. In 2022, the Indian e-commerce market is expected to grow by 21.5%, to reach $74.8 billion. It is expected to continue growing for
188 billion US dollars
by 2025 compared to US$46.2 billion in 2020, according to an IBEF report. With an exponential growth trajectory charted for online retail in India, offering a product or service is simply not enough for brands to thrive in today’s competitive market.

Especially considering how factors, such as increased internet penetration, increasing accessibility and easy access to the latest technologies, are changing the needs and demands of customers and the e-commerce experience they are looking for right now. This and many other factors have led companies to abandon a one-pronged approach (like simply having a website online) and rethink, redefine and recalibrate their business strategies. The evolving nature of consumers has, in fact, also paved the way for vertical retail trends such as direct-to-consumer commerce, mobile commerce, phygital shopping, content and building communities to deliver a valuable overall experience. and transparency to attract, engage and retain customers.

Spotlight on ET

As e-commerce continues to redefine the retail experience, the second edition of the E-Commerce & Digital Natives Summit 2022 recently bought the who’s who of the tech world, straight from over 30 decision makers, industry leaders industry and solution providers, more than 150 senior executives in e-commerce, D2C to logistics to engage in a physical exchange of ideas on creating the best online shopping experience for consumers. The summit featured engaging panel discussions, exclusive fireside chats and engaging industry presentations discussing the latest trends, innovations and technologies. Two of the most important topics discussed in this high-level congregation were how brands can drive sales and ensure seamless omnichannel enjoyment for the new-age consumer.

Harish Ramchandani, the founder of Fashmates, a leading AI-powered personal styling platform that offers outfit-based shopping recommendations for online fashion brands, shared his key insights during an exclusive session on
How do you drive incremental sales by offering outfit- and style-focused shopping experiences?

“The problem is that today’s fashion e-commerce scene is focused on selling individual products instead of creating a custom look,” he said at the ET Ecomm summit.

The value proposition of his company Fashmates is that it drives product discovery, as well as increases customer engagement, conversion rates and average order value for brands and retailers. The founder explained how Fashmates achieves this for its brand partners.

Personalize the online experience

“If you change your approach from selling products to creating whole outfits/looks around the product and customizing it to suit your customers’ needs, the whole game changes. A customer can then see multiple visually similar products from choice and is likely to purchase not one but several products in a single visit,” Ramchandani said.

Use the latest technologies and data

Fashmates, for example, has 2,50,000 stylists on its platform across the globe, a sophisticated advanced AI stylist, styling software, and a cloud of trend, customer, and merchandising data — all of which contribute to generate a high-quality, interactive and buyable style. content for their brand partners.

“We take the catalog of brands, put it into our style engine, and then using what omnichannel connectors are, we put the outfits back on your website. Those sharp looks are then made available across all channels (e- Commerce, advertising, social, direct), as well as in-store. The result is that your customers end up buying multiple products in one transaction,” said Ramchandani, adding that Fashmates has so far styled more than 9 million looks.

The fashion technology platform is also based on “a bank of clients’ comprehensive style profiles ranging from fit preferences, size, to what they want to show off or minimize in their outfits, customizing the outfit to suit. customer needs that drive sales.”

This powerful setup is helping the brand redefine shopping experiences around style and gear across the globe. On average, Fashmates style outfits and appearance-based solutions result in 4x product discovery, 3x customer engagement, 32% increase in order value, and 46% decrease shipping costs.

To watch more insights from Harish Ramchandani on how to boost sales, watch the full video from the summit session below:



Meanwhile, Fashmates co-founder Arvind Singh also shared his insights on how brands can deliver seamless omnichannel enjoyment to the new era consumer during a panel discussion at ET Ecomm Summit.

RY5A8111Spotlight on ET

He emphasized, “Personalization is a must for an omnichannel experience. This usually comes with issues of data privacy and personally identifiable information, which in a way are the only growth opportunities we are working on with our brand partners. Another aspect from the consumer’s perspective is that the shopping experience should be easy and fun and should be a feel-good experience. In our experience, these two areas of opportunity can really change the game of e-commerce, he said.

To watch more insights shared by Arvind Singh, watch the ET Ecomm Summit video below:



The Indian e-commerce market is expected to welcome 300 to 350 million buyers by 2025. E-commerce is clearly not a choice for brands. It has become the need of brands and the wish of consumers. And again, the ET E-commerce and Digital Natives Summit is a key milestone in facilitating the exchange of innovative ideas between industry stalwarts and key executives on creating the best shopping experience for consumers. new age consumers.

]]>
This was the only new stock I bought in August https://mogotheme.com/this-was-the-only-new-stock-i-bought-in-august/ Sun, 18 Sep 2022 10:30:00 +0000 https://mogotheme.com/this-was-the-only-new-stock-i-bought-in-august/ Farfetch Limited (FTCH -8.22%) may not be well known to US investors, as the company is based in London and led by a visionary founder-CEO from Portugal. However, there’s a lot to like about this e-commerce platform, which seems to consolidate the online market for global luxury goods. Last month, Farfetch struck a transformative deal […]]]>

Farfetch Limited (FTCH -8.22%) may not be well known to US investors, as the company is based in London and led by a visionary founder-CEO from Portugal. However, there’s a lot to like about this e-commerce platform, which seems to consolidate the online market for global luxury goods.

Last month, Farfetch struck a transformative deal that may be undervalued by the market. Against the backdrop of a 70% drop in its share price this year, this battered tech stock could be a big opportunity. That’s why it was the only new stock to enter my portfolio last month.

What Farfetch does

Farfetch was founded and run by José Neves, a Portuguese owner-operator now based in London. Neves has a unique combination of skills: mastering both software engineering and the unique particularities of the global luxury industry.

Luxury brands are mostly family businesses, historically skeptical of technology, with unique concerns that may go beyond maximizing this year’s finances. But Neves’ unique background as both a software engineer and designer of luxury clothing (one of his previous ventures even won a British Fashion Award in the Retailer category in 2006) won him the trusted luxury brands where others could not.

Farfetch’s startup on the eve of the 2008 financial crisis was also fortunate, as the recession pushed brands and retailers to embrace its marketplace to expand their reach. The pandemic that began in 2020 was another catalyst to grow the offering on Farfetch and further strengthen its network effects, with e-commerce sales growing from just 9% of the $350 billion luxury goods market in 2017 to around 22% today.

A combination of Amazon and Shopify

Farfetch is basically three different and very attractive companies.

The first is the Farfetch market. Like with Amazonthird-party seller’s business, Farfetch does not take ownership of the inventory; instead, it connects store inventory from suppliers around the world, in an attractive asset-light model, aided by a booming advertising business.

Second, Farfetch Platform Solutions (FPS) is the Shopify to the luxury industry; Farfetch’s API-based software powers direct-to-consumer websites for luxury brands and retailers.

Third, Farfetch bought its own brick-and-mortar retailers and luxury brands, starting with London department store Browns in 2015. In 2019, Farfetch acquired Stadium Goods, a high-end sneaker platform, for $250 million, and New Guards Group, a luxury brand incubation platform, for $675 million.

While this may seem counterintuitive to investors who would like a “pure play” e-commerce stock, these acquisitions have many advantages. With Browns, Farfetch bought a very cheap asset and grew its sales 20x since 2015 through the use of technology. Farfetch is also using Browns to experiment with its vision of “augmented retail,” which combines online and in-store connected technology.

Stadium Goods and New Guards are growing businesses themselves. They provide valuable data that helps inform Farfetch’s software, while providing the company with the opportunity to acquire the next big luxury brand. For example, Farfetch acquired Palm Angels, one of the New Guards brands, in 2021. It also acquired beauty retailer Violet Gray in 2022 and is just beginning to offer a curated selection of beauty products on its market.

Image source: Getty Images.

A perfect storm in 2022

The recent discount came because Farfetch is having a perfect storm in 2022. Russia was its third-largest market, but now it sucks. China, the second-largest market, has seen sales drop 30% to 40% this year due to both demand destruction and supply constraints caused by COVID lockdowns. (Farfetch gets other international revenue, but reports in US dollars, so the strong dollar limits revenue.) Meanwhile, AppleChanges to Privacy Identifier for Advertisers (IDFA) have led to increased marketing spend, squeezing margins.

With all of these headwinds, Farfetch expects gross merchandise volume (GMV) growth of just zero to 5% this year, following GMV growth of 33% in 2021 and 49% growth in 2020. Encouragingly, Farfetch continues to target adjusted earnings before interest, tax, depreciation and amortization (EBITDA) to break even, through a reorganization and restructuring currently underway.

However, given that the company will catch up with the Russian shutdown and the Chinese recession next year, these headwinds could turn into headwinds for growth comparisons in 2023. For his part, Neves expects the company to return to its 30% growth target next time. year and beyond.

A big fashion deal

Farfetch is expected to rebound not only due to macro factors, but also because it reached a transformational deal in August that could boost results next year.

The company is to acquire 47.5% of rival e-commerce platform Yoox Net-a-Porter (YNAP) from the luxury giant and parent company of Cartier Richemont (CFRUY -3.00%), with an option to purchase the remainder in five years if YNAP achieves certain measures of profitability. Richemont had previously invested in Farfetch’s Chinese joint venture with Ali Baba in 2020; Richemont CEO Johann Rupert has said publicly that Alibaba’s tech team told him they couldn’t even duplicate what Farfetch had built, calling its software “truly remarkable” technology.

As part of the YNAP deal, Richemont will take a 10% to 11% stake in Farfetch, rising to 15% to 16% if the acquisition goes through. The big part of the deal for Farfetch is that Richemont will bring its luxury “houses” (subsidiary businesses) to the Farfetch marketplace, while also implementing FPS for its houses’ direct selling websites. Richemont had over $3 billion in digital GMV in 2021, almost as much as Farfetch’s total in 2021, which could nearly double Farfetch’s business in a short time. If Farfetch manages to turn YNAP around, great. If YNAP’s turnaround is not successful, Farfetch may outsource it to a strategic buyer or hold an initial public offering.

The important takeaway is that Farfetch has acquired a major competitor and appears to have reached trailing speed by consolidating the luxury e-commerce market for itself.

Low valuation, room for growth

Farfetch is currently trading at just 2x sales and 1x GMV.

With its 2021 GMV of $4.2 billion representing less than 2% of the luxury market and around 5% of the luxury e-commerce market, Farfetch still has plenty of growth potential. And with a solid contribution margin (gross margin less demand generation marketing expenses) of 31.7%, the company should be very profitable once it scales above its infrastructure of company.

Besides these turnaround catalysts for 2023, its reduced valuation and multibagger potential is why Farfetch was the only new name to make it into my portfolio last month.

John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a board member of The Motley Fool. Billy Duberstein has positions in Amazon, Apple and Farfetch Limited and has the following options: January 2023 short calls at $210 on Apple, $20 short calls on October 2022 on Farfetch Limited, $7.50 short calls on Farfetch Limited in October 2022, $7 short calls on Farfetch Limited in September 2022, and $8 sell shorts in September 2022 on Farfetch Limited. Its clients may hold shares of the companies mentioned.

The Motley Fool holds positions and recommends Amazon, Apple, Farfetch Limited and Shopify. The Motley Fool recommends the following options: Shopify January 2023 $1140 Long Call, Apple March 2023 Long Call $120, Shopify January 2023 Short Call $1160, and $130 Short Call in March 2023 on Apple. The Motley Fool has a disclosure policy.

]]>
Ethical fashion platform, The Canvas, opens at the Oculus, Westfield World Trade Center https://mogotheme.com/ethical-fashion-platform-the-canvas-opens-at-the-oculus-westfield-world-trade-center/ Fri, 16 Sep 2022 16:20:00 +0000 https://mogotheme.com/ethical-fashion-platform-the-canvas-opens-at-the-oculus-westfield-world-trade-center/ Enter Wall Street with StreetInsider Premium. Claim your one week free trial here. New York, New York–(Newsfile Corp. – September 16, 2022) – The Canvas, a New York-based marketplace for independent and ethical fashion and lifestyle brands and designers, is taking three new spaces in the larger Manhattan’s retail and transportation hub, the Westfield shops […]]]>

Enter Wall Street with StreetInsider Premium. Claim your one week free trial here.


New York, New York–(Newsfile Corp. – September 16, 2022) – The Canvas, a New York-based marketplace for independent and ethical fashion and lifestyle brands and designers, is taking three new spaces in the larger Manhattan’s retail and transportation hub, the Westfield shops at the Oculus. This makes The Canvas one of the largest retail tenants by square footage in stores.

“We are delighted to welcome The Canvas to Westfield World Trade Center,” said Michael Worthman, Vice President of Leasing for Unibail-Rodamco-Westfield (URW). “The Canvas’ ethical fashion proposition aligns with our goals of satisfying socially responsible shoppers going through the Oculus, providing rental and pop-up opportunities for emerging and diverse local businesses and brands.”


The Canvas at the Oculus, Neesmith Onzeur

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9095/137352_01a136cee47e7994_001full.jpg

The Canvas at the Oculus will be its flagship New York retail store, a 4,200 square foot fashion destination nestled between Kate Spade and Sam Edelman, showcasing an artfully curated collection of over 60 fashion and lifestyle brands. ethics. One floor below, The Canvas has also signed leases on two other spaces. Details will be announced soon.

Can't see this picture?  Visit: https://i3.wp.com/images.newsfilecorp.com/files/9095/137352_01a136cee47e7994_002.jpg
Devin Gilmartin, Founder of The Canvas, Lumia Nocito

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9095/137352_01a136cee47e7994_002full.jpg

“Fashion and real estate both go through times of disruption and evolution; the Canvas model is based on the belief that this overlap is an opportunity,” said Devin Gilmartin, co-founder and CEO of The Canvas Global.

The Web quickly imposed itself in the field of ethical fashion. There are currently over 100 brands and counts in the store’s community, all small to medium sized, from around the world and from our own backyard. E-commerce and retail markets lower barriers to market entry for independent craft brands that would otherwise struggle to gain exposure to larger markets.

“It will be hard to justify buying fast fashion made from shoddy materials, sourced from human rights abuses, at enormous cost to the environment, when the antithesis of this is available at the store next door. That’s why we’ve created The Canvas and why our arrival in a place like the Westfield Shops at the Oculus marks such an important moment for the rise of ethical fashion,” said Harold Brooks, CEO of Retail at The Canvas.

Can't see this picture?  Visit: https://i3.wp.com/images.newsfilecorp.com/files/9095/137352_01a136cee47e7994_003.jpg
The Canvas at the Oculus, Lumia Nocito

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9095/137352_01a136cee47e7994_003full.jpg

The Canvas is one of the only distribution companies in the world listed as an official partner of the United Nations. Last June, Gilmartin spoke at the first annual conference of the United Nations Network on Conscious Fashion and Lifestyle. Kerry Bannigan, Executive Director of the Fashion Impact Fund and driving force behind the conference, said: “The Canvas’s commitment to advancing the United Nations Sustainable Development Goals is reshaping the industry as we know it by integrating impact in the DNA of the company, the brands, and the consumer experience; society’s global transition to value people and the planet.” Every brand sold on The Canvas must meet at least two of the UN’s Sustainable Development Goals.

“In an innovation-starved asset class, where new retail concepts are lacking, The Canvas is a welcome breath of fresh air. It provides relevance for developers and accessibility for burgeoning brands while meeting the occupancy needs of homeowners,” said Jason Richter, Advisory Board Member of The Canvas.

Can't see this picture?  Visit: https://i3.wp.com/images.newsfilecorp.com/files/9095/137352_01a136cee47e7994_004.jpg
The Canvas at the Oculus, Lumia Nocito

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9095/137352_01a136cee47e7994_004full.jpg

“Fast fashion brands will have tougher competition; independent brands have better transparency, higher quality products and superior stories to tell. We want to make the transition to a more sustainable fashion industry as easy as possible for the customer. This is how mass shifts in attitude and norms happen: innovation and convenience converge,” said Devin Gilmartin, co-founder and CEO of The Canvas Global.

This will be The Canvas’s second store opening in Manhattan this year after opening a new boutique at the Seaport last spring. Each outlet showcases a carefully curated selection of one-of-a-kind, one-of-a-kind brands and pieces that are rotated intermittently.

About Devin Gilmartin:

Devin Gilmartin is the founder and CEO of The Canvas Global. Devin launched a t-shirt brand in 2016, which evolved into the idea of ​​a retail platform uniting vacant spaces with independent brands in 2018. Devin is also the founder of Future Fashion Group at New York University, the first college-wide club. dedicated to promoting ethical fashion.

Can't see this picture?  Visit: https://i3.wp.com/images.newsfilecorp.com/files/9095/137352_01a136cee47e7994_005.jpg
Entrance to the canvas, Lumia Nocito

To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/9095/137352_01a136cee47e7994_005full.jpg

About Harold Brooks:

Harold Brooks is the CEO of Retail at The Canvas. Brooks has over 40 years of retail experience and has held senior management and merchandising positions with some of the world’s most recognized retailers and brands.

For more information:

The Web:
@thecanvasnyc
https://thecanvas.global

Press contacts:
Mandie Erickson
Seventh House
[email protected]
646 479 0777

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/137352

]]>
Fall Style: Earthy, Cozy, Retro | The Weekly Source https://mogotheme.com/fall-style-earthy-cozy-retro-the-weekly-source/ Wed, 14 Sep 2022 23:21:05 +0000 https://mogotheme.com/fall-style-earthy-cozy-retro-the-weekly-source/ JTears tend to come and go, but some styles permeate our fashion culture so deeply that they come back again and again. This fall, modern fashion meets classic and retro style; loose fits, cozy blankets, earth tones and lots of denim. In a bustling city like Bend, where modern athleisure reigns supreme almost any time […]]]>

JTears tend to come and go, but some styles permeate our fashion culture so deeply that they come back again and again. This fall, modern fashion meets classic and retro style; loose fits, cozy blankets, earth tones and lots of denim. In a bustling city like Bend, where modern athleisure reigns supreme almost any time of the year, dare to be bold by bringing back the classics with a few modern twists. From outfits inspired by the rugged American West to urban ’90s memorabilia and more, check out outfits curated by two popular downtown Bend retail destinations, Revolvr and Evrgreen.

Click to enlarge

  • André Banasselt
  • Left to right: (Noah) Richer Poorer white t-shirt, Nuew ray straight jeans, Clae shoes, Dehen 1920 cardigan. (Bri) Cherished driftwood blazer by Sage the Label. Square collar shirt in vintage rib by Richer Poorer, Boots Yolana by Billini. (Devon) Freenote wilks pants, Freenote landcaster shirt (Sarah) All Day Top by L*space, Devin Blazer by Outerknown.

Click to enlarge
Clae shoes.  - ANDREW BANASSELT

  • André Banasselt
  • Clae shoes.



Click to enlarge
Left to right (Devon) Neuw chino jeans, brown linen Rhythm shirt, Redwing Iron Ranger boots.  (Sarah) Trills denim pants, Rhythm classic tank top, Sadie and Sage yellow Second Chance Sherpa cardigan, Jinna Billini boots.  (Noah) Rrabuco Jeans in Freenote Fabric, Utility Shirt in Freenote Fabric, Redwing Moc Toe Boots.  - ANDREW BANASSELT

  • André Banasselt
  • Left to right (Devon) Neuw chino jeans, brown linen Rhythm shirt, Redwing Iron Ranger boots. (Sarah) Trills denim pants, Rhythm classic tank top, Sadie and Sage yellow Second Chance Sherpa cardigan, Jinna Billini boots. (Noah) Rrabuco Jeans in Freenote Fabric, Utility Shirt in Freenote Fabric, Redwing Moc Toe Boots.

Masculine and modern: Revolvr Men’s Clothing

Drawing inspiration from wherever possible, Revolvr prides itself on offering a diverse collection of brands and styles that can suit all generations. Selected walls are covered in everything from casual t-shirts and board shorts from surf and skate brands to formal wear, casual workwear and even an entire wall dedicated to sustainable, locally made ranch apparel. United States. Those who need new bathing suits for a vacation, a shirt for a first date, jeans that really fit, or a jacket so tough it will outlast its owner can find these items. at Revolvr.

Click to enlarge
Richer Poorer white t-shirt, Nuew Ray straight jeans, Deneh cardigan.  - ANDREW BANASSELT

  • André Banasselt
  • Richer Poorer white t-shirt, Nuew Ray straight jeans, Deneh cardigan.

Hidden gems for women: Evergreen

Sister store to Revolvr, Evrgreen has outfits for every season and every style, with well-known brands and a few hidden gems. Whether customers are looking for something preppy, bohemian, modern styles that push the envelope or classic cuts that never go out of style, Evrgreen has it all. With more than 76 brands and an emphasis on ethical consumption (no fast fashion!), Evrgreen offers outfits for all occasions and all tastes, with shoes, glasses, jewelry and accessories to match. Similar to Revolvr, customers can stop by Evrgreen for a free local beer sample and let the knowledgeable staff help them find exactly what they’re looking for.

Click to enlarge
From left to right, (Sarah) Trills denim pants, Rhythm Classic tank top, Frnch Taya cardigan, Billini Jinna boots.  (Bri) Sadie and Sage purple pants, Able bag.  - ANDREW BANASSELT

  • André Banasselt
  • From left to right, (Sarah) Trills denim pants, Rhythm Classic tank top, Frnch Taya cardigan, Billini Jinna boots. (Bri) Sadie and Sage purple pants, Able bag.



ABOUT FALL STYLE CURATOR AND PHOTOGRAPHER ANDREW BANASSELT:
I was born and raised in Eugene, Oregon and have worked with Revolvr and Evrgreen for a year and a half. I’ve always had a passion for fashion, so when I was 21, I moved to Los Angeles to rub shoulders with creatives, open an e-commerce store, and sell socially responsible and ethical brands from around the world. The idea was that everything you buy from our store helps support a cause. I was eventually invited to work with New York Fashion Week working behind the scenes. From there, I followed my passion for capturing photos and started working with brands to curate content for social media. I created local fashion shows to raise awareness of human trafficking, with proceeds going to local shelters. I finally decided that living in Los Angeles long term was not for me because it was too far from my family. I moved to Bend five years ago to focus on myself and my love of the outdoors and snowboarding. Accepting work at Revolvr has helped reignite my creative spirit, giving me an outlet to express myself through photography and fashion. I’ve met so many talented people here in Bend, like April Lawyer at Vanilla. I’m so happy to be part of the amazing creative community here.

Click to enlarge
Left (Devon) Neuw chino jeans, brown linen Rhythm shirt, Redwing Iron Ranger boots.  (Noah) Rrabuco Jeans in Freenote Fabric, Utility Shirt in Freenote Fabric, Redwing Moc Toe Boots.  - ANDREW BANASSELT

  • André Banasselt
  • Left (Devon) Neuw chino jeans, brown linen Rhythm shirt, Redwing Iron Ranger boots. (Noah) Rrabuco Jeans in Freenote Fabric, Utility Shirt in Freenote Fabric, Redwing Moc Toe Boots.

]]>
U.S. Retail Sales Expected to Rise 7.1% Over Holiday Season: Mastercard https://mogotheme.com/u-s-retail-sales-expected-to-rise-7-1-over-holiday-season-mastercard/ Tue, 13 Sep 2022 07:32:10 +0000 https://mogotheme.com/u-s-retail-sales-expected-to-rise-7-1-over-holiday-season-mastercard/ This holiday season, U.S. retail sales excluding autos are expected to grow 7.1% year-over-year (YoY), according to Mastercard’s annual holiday forecast. SpendingPulse. Key trends to watch include extended holiday shopping; bargain hunting; in-store experiences attracting shoppers to stores; and avant-garde gifts. The 2021 holiday season has resurfaced for retailers (up 8.5%) as pandemic-induced pent-up demand, […]]]>
This holiday season, U.S. retail sales excluding autos are expected to grow 7.1% year-over-year (YoY), according to Mastercard’s annual holiday forecast. SpendingPulse. Key trends to watch include extended holiday shopping; bargain hunting; in-store experiences attracting shoppers to stores; and avant-garde gifts.

The 2021 holiday season has resurfaced for retailers (up 8.5%) as pandemic-induced pent-up demand, excessive savings and supply chain issues have shoppers stocking up on their carts to get gifts. This year, the holidays are expected to be another positive retail season.

This holiday season, U.S. retail sales excluding autos are expected to grow 7.1% year-over-year (YoY), according to Mastercard’s annual holiday forecast. SpendingPulse. Key trends to watch include extended holiday shopping; bargain hunting; in-store experiences attracting shoppers to stores; and avant-garde gifts.

With holiday shopping set to resume earlier this year, some of the season’s retail growth should be accelerated in October as consumers seek out early deals. The traditional holiday season is set from November 1 to December 24. Key promotional days like Black Friday weekend are also set to make a strong comeback with Christmas Eve, which falls on a Saturday, set to be one of the biggest days for retailers and last-minute shoppers.

As inflation impacts consumers’ wallets, bargain hunting should be in full force this holiday season. From deals and discounts to price monitoring and price matching, consumers are looking to get the most for their money and get value for their money. E-commerce is expected to grow despite significant growth last year, up 4.2% YoY and 69.2% YOY (Yo3Y), as the channel remains a convenient way for consumers to check real-time prices, according to the Mastercard SpendingPulse report. said.

From the return of holiday patio doors to new physical collaborations, retailers are aiming to boost the holiday spirit by drawing consumers into stores. In-store retail sales are expected to increase 7.9% year-on-year and 10.4% year-on-year. While e-commerce has seen marked growth in recent years, in-store spending accounted for more than 4/5 of retail sales from January to August 2022.

Plus, after nearly two years of loungewear and athleisure, consumers can add revamped wardrobes to their wishlists as social events and platforms have plenty of clothes to impress. Apparel (4.6% YoY / 25.3% YoY) and Luxury (4.4% YoY / 29.6% YoY) are expected to be hot sectors for gifts from Christmas, sending consumers into the New Year in style.

“This holiday retail season is bound to be a lot more promotional than the last,” said Steve Sadove, Senior Advisor to Mastercard and Former CEO and Chairman of Saks Incorporated. “Easing supply chain issues, coupled with rapidly changing consumer spending trends and excessive order inventories, left retailers in an attractive position ahead of the holidays. Retailers who were able eliminating past merchandise and accurately forecasting inventory needs will be best positioned for growth.”

“This holiday season, consumers may find themselves looking for ways to navigate the inflationary environment — from finding deals to making compromises that allow for extra headroom in their gift-giving budgets,” said Michelle Meyer, US Chief Economist, Mastercard Economics Institute. “New job creation, rising wages and persistent savings should have many consumers ready and able to spend.”

The holiday season builds on the momentum seen this summer, with U.S. non-auto retail sales in August up 11.7% year-on-year and 20.4% from 2019. online in August increased by 8.9% and 100.2%, respectively, compared to the same period. periods.

Fibre2Fashion (KD) News Desk

]]>
Going forward, we will focus on rapidly growing our online presence: Noel Tata https://mogotheme.com/going-forward-we-will-focus-on-rapidly-growing-our-online-presence-noel-tata/ Sun, 11 Sep 2022 14:27:49 +0000 https://mogotheme.com/going-forward-we-will-focus-on-rapidly-growing-our-online-presence-noel-tata/ Expecting India to be the biggest engine of growth in the world, Noel Tata, Chairman of Trent Ltd., has put in place an aggressive expansion plan for Trent, including an accelerated expansion program for stores in Westside, Zudio and Star Markets. In an interview with Activity areahe shares his thoughts on the future of the […]]]>

Expecting India to be the biggest engine of growth in the world, Noel Tata, Chairman of Trent Ltd., has put in place an aggressive expansion plan for Trent, including an accelerated expansion program for stores in Westside, Zudio and Star Markets. In an interview with Activity areahe shares his thoughts on the future of the company: Excerpts

What is your assessment of the overall economic situation? Will rising inflation have an impact on growth this year?

The Indian economy remains robust. Importantly, we expect India to continue to be the main engine of growth globally, at least for the next year or two.

Current inflationary pressures are, to some extent, the result of the world returning to normal post-Covid and should start to ease over the next 18 months. Customers are definitely feeling the pressure of this inflation, and so we are maintaining our prices as best we can by improving the efficiency of our supply chain to reduce the impact on our customers.

Has the retail segment reached pre-pandemic levels? What are the main changes you had to make as a result of the pandemic?

The retail segment has certainly reached its pre-pandemic levels. In fact, we are seeing an increase in customer visits and higher billing values ​​as customers return after a long gap.

During the pandemic, we realigned our priorities and focused on future business growth drivers.

We didn’t want Covid to affect Trent’s long-term growth prospects. We have continued to aggressively sign properties over these two years, the results of which will become increasingly evident. As a result, our reach has increased significantly, as we opened over 125 stores across all of our formats in FY22.

In the online space, we have also strengthened Westside’s presence through Westside.com and TataNeu, in addition to our presence on TataCliq.

There seems to be a big shift towards online retail. What do you think of online channels? What will be your strategy in this space?

In the two years of the pandemic, there has been a huge shift to online, thanks to its convenience. However, we are now seeing customers returning to stores. At Trent, we believe in meeting our customers’ shopping needs and being available both online and in-store.

In the fashion and lifestyle retail segment, there seems to be a battle between Reliance and Aditya Birla Fashion to acquire designer brands. How do you see Trent playing in this market?

We continue to focus on house brands, but are open to evaluating designer brands as an interesting opportunity arises.

Private labels have become the rising stars of retail and e-commerce. What percentage of your fashion and lifestyle revenue will come from private label?

I think in today’s retail environment, house brands are really “retail brands”.

When we launched Westside in 1998, we made a conscious decision to be a retail brand focused company. At the time, many questioned this strategy, but the evidence of the past twenty years has shown that it was the right decision. While we have managed to grow profitably through our private labels, multi-brand retailers have struggled.

Currently, 100% of our sales in Westside and Zudio are through our retail brands.

You currently have 200 Westside stores and 233 Zudio stores. Could you share the expansion plans of these brands? Do you plan to target Tier 2 and Tier 3 cities with more Zudio stores?

It’s hard to give you a number as there are several moving parts in the expansion of our property portfolio, but as I indicated earlier we have used the two years of covid to begin an aggressive expansion plan and we intend to continue the same in the future.

Given that there is a lot of potential in the grocery segment in India, what is the company’s game plan to up its grocery game?

Grocery is indeed a big part of modern retail in India, accounting for over 60% of the total market. Our food retail business operating under the Star banner offers a select assortment of products including FMCG, staples, necessities, apparel and a full fresh produce offering. This year we have taken an aggressive pricing stance on our range of exclusive retail brands, which has resonated well with our customers during this period of inflation and has led to increasing sales densities and repeat customers months after month.

Completing its first year of launch, West Style Club has over 1.4 million subscriptions in FY22. What are your goals for FY 23?

We added 1.4 million members to West Style Club in FY22 alone, and now have a total of over 7 million members. We have seen great success and our customers have welcomed this initiative, increasing their spending with us by more than 25% from pre-pandemic levels. We expect this number to continue to grow.

Many D2C start-ups are emerging in the fashion and beauty segments. They are nimble and technology driven. Do you see disturbances in this space? Do you plan to acquire any of these brands or do you plan to develop your own brands?

If you look closely at our retail formats, they’ve been D2C businesses since their inception. Going forward, we will focus on rapidly growing our online presence in response to customer demand.

Whether or not we acquire these brands will depend on the type of opportunities that come our way and the conditions.

What is the overall investment you plan to make in FY23 and in which areas?

We plan to continue our accelerated store expansion program across Westside, Zudio and Star Markets, which we began last year, with a focus on beautiful, high-quality properties.

Our expansion will be supported by substantial investments in our supply chain, distribution, IT and design capabilities.

What is Star’s deployment plan for Exercise 23? Will there be more emphasis on Star Hypers to target tier 2 and 3 cities?

The Star business has evolved to grow on a bundled approach where the Star Markets format gives us a retail footprint closer to the customer in the catchment area.

We continue to believe in this format and its ability to drive business growth for the foreseeable future.

We have taken a 9 month break from store expansions for the team to focus on optimizing certain aspects of our business model that were necessary for us to grow profitably, and we will be resuming the expansion of our stores shortly.

What is your overall vision for Trent in today’s competitive landscape?

Trent should continue its rapid expansion through its existing formats as well as through new formats that cater to different market segments.

I hope Trent will play a leading role among retailers in India, a market that will one day be one of the largest retail markets in the world and will be considered by its customers and other stakeholders as one of the best retailers in India.

The company’s profitability increased substantially during the first quarter, in line with strategy. Do you think this will continue for the remaining quarters?

The increase in profitability we saw in Q1 23 is due to an uninterrupted COVID quarter, an aggressive store expansion program over the past 2 years as well as wonderful products in stores.

I hope our focus on our fundamental growth drivers will continue to help us in the remaining quarters as well.

]]>
Must Read: Billie Eilish Is The New Face Of Gucci Eyewear, Thierry Mugler Exhibit Is Coming To The Brooklyn Museum https://mogotheme.com/must-read-billie-eilish-is-the-new-face-of-gucci-eyewear-thierry-mugler-exhibit-is-coming-to-the-brooklyn-museum/ Wed, 07 Sep 2022 16:00:59 +0000 https://mogotheme.com/must-read-billie-eilish-is-the-new-face-of-gucci-eyewear-thierry-mugler-exhibit-is-coming-to-the-brooklyn-museum/ Photo: Harley Weir for Gucci/Courtesy of Gucci These are the stories that make fashion headlines on Wednesday. Billie Eilish is the new face of Gucci EyewearGucci Eyewear has tapped musician and brand friend Billie Eilish to helm its latest campaign. The artist is featured in a series of portraits showing her in retro cars and […]]]>

These are the stories that make fashion headlines on Wednesday.

Billie Eilish is the new face of Gucci Eyewear
Gucci Eyewear has tapped musician and brand friend Billie Eilish to helm its latest campaign. The artist is featured in a series of portraits showing her in retro cars and landscapes to match the aesthetic of the new collection. With ’80s caravan, cat’s eye and oversized styles, the campaign aims to reinterpret the vintage look for a modern consumer. {Fashionista Inbox}

]]>
Fashion company receives $8 million seed round https://mogotheme.com/fashion-company-receives-8-million-seed-round/ Mon, 05 Sep 2022 07:05:15 +0000 https://mogotheme.com/fashion-company-receives-8-million-seed-round/ Viavia Corp., a West Hollywood-based early e-commerce platform, last week announced an $8 million seed round to launch a fashion retail destination for Gen Z shoppers. funding round was co-led by New Enterprise Associates and Basis Set Ventures, with participation from Exor Seeds, Backend Ventures and Andrew Ng’s AI fund. The funding follows a $1.15 […]]]>

Viavia Corp., a West Hollywood-based early e-commerce platform, last week announced an $8 million seed round to launch a fashion retail destination for Gen Z shoppers. funding round was co-led by New Enterprise Associates and Basis Set Ventures, with participation from Exor Seeds, Backend Ventures and Andrew Ng’s AI fund. The funding follows a $1.15 million pre-seed round.

Viavia, which was founded in 2021, seeks to modernize the fashion e-commerce experience by combining live, short-form creator-focused video content with an end-to-end AI-powered technology infrastructure to the fashion supply chain.

Li

“Fashion retail is undergoing a radical transformation,” said Sixuan Li, co-founder and chief executive of Viavia, in a statement. “Asian export-focused supply chains have warped the traditional timeline of an emerging wearable trend concept. To make sense of this speed and volume of production, Gen Z consumers expect brands to connect with them through authentic, creator-driven, video-driven content.

The fashion company believes that existing e-commerce platforms are ill-equipped to respond to this shift in consumer behavior and plans to change this paradigm by representing designers and influencers through an in-house talent team and by heavily indexing video and live streaming to bring brand stories to life.

According to the company, Viavia’s technology solution increases order flow to local manufacturers, reducing costs for brands and shortening production times.
Andrea Pasinetti, co-founder and chief engineering officer of Viavia, said in a statement that the company is launching an AI-powered “product lifecycle management” tool that will connect designers and brands with manufacturers. in Italy and beyond.

Viavia believes this infrastructure will effectively expand to other manufacturing hubs across Europe and result in record capital flows to global e-commerce supply chain and logistics companies, with the latter expected to reach 3 trillion dollars in 2028.

“Viavia has a big, bold vision to modernize luxury e-commerce for a new generation of consumers, by rethinking the entire value proposition, from supply chain to sales,” said Xuezhao Lan, Founder and Partner. director of Basis Set Ventures, in a statement.

]]>
Now Kate Moss is launching a wellness brand https://mogotheme.com/now-kate-moss-is-launching-a-wellness-brand/ Sat, 03 Sep 2022 06:17:31 +0000 https://mogotheme.com/now-kate-moss-is-launching-a-wellness-brand/ British model Kate Moss has launched a website selling her own beauty and lifestyle products called Cosmoss, becoming the latest star to venture into branded e-commerce. Moss follows celebrities such as American actress Gwyneth Paltrow who has carved out a second career marketing wellness products on her Goop website. Read also : The story of […]]]>

British model Kate Moss has launched a website selling her own beauty and lifestyle products called Cosmoss, becoming the latest star to venture into branded e-commerce.

Moss follows celebrities such as American actress Gwyneth Paltrow who has carved out a second career marketing wellness products on her Goop website.

Read also : The story of a designer and a future princess

With her sculpted cheekbones, grungy style and famous boyfriends, including American actor Johnny Depp and British musician Pete Doherty, Moss epitomized the 1990s fashion scene and party lifestyle.

But in an interview on BBC radio’s ‘Desert Island Discs’ in July, Moss said she now preferred trips to the garden center and meditation to clubbing, and was ‘no longer out of control’.

vogue The magazine reported that Moss, 48, spent two and a half years developing the products for her new brand.

So far, the Cosmossbykatemoss.com website sells a small range of vegan-friendly products, including boxes of herbal tea bags for £20 ($23), a face oil containing CBD (£105), a active ingredient in cannabis and a fragrance with essential oils (£120).

Moss recommends using the products in combination in “rituals” that “balance body and mind with the natural environment and circadian cycles.”

Cosmoss isn’t Moss’ first foray into personal branding. She designed a clothing line for teenage fashion chain Topshop, which closed its physical stores during the pandemic, and named Rimmel lipsticks after her.

In 2016, she launched a talent agency, Kate Moss Agency, signing her own daughter, Lila Moss, along with other descendants of stars like Ella Richards (granddaughter of Keith) and artists like Rita Ora.

In May, Moss testified in former boyfriend Depp’s defamation lawsuit against his ex-wife Amber Heard.

The model said reports that Depp once threw her down a flight of stairs were false.

Read also : Why Gen Z buys to resell luxury brands

]]>
Business News | Fashion Retail: Improving Digital Capabilities for Growth https://mogotheme.com/business-news-fashion-retail-improving-digital-capabilities-for-growth/ Tue, 30 Aug 2022 07:08:26 +0000 https://mogotheme.com/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 […]]]>

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.

Read also | Hackers reportedly used LinkedIn chat and job posting tools to steal user data.

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.

Read also | Ganeshotsav 2022 in Pune: From Dagdusheth Ganpati to Tulsi Baug Ganpati, the famous Ganesh pandals which are unmissable in this Ganesh Utsav.

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.

This story was provided by Mediawire. ANI shall in no way be responsible for the content of this article. (ANI/Mediawire)

(This is an unedited and auto-generated story from syndicated newsfeed, LatestLY staff may not have edited or edited the body of the content)

]]>