Products Markets Services & Support Partner References News About Us / News / A 7 step guide to help Fashion & Luxury retail brands to go omnichannel A 7 steps guide to help Fashion & Luxury retail brands to go omnichannel Where do you stand? Download our report "Faster than fashion: tailoring your approach to the global consumer" Step #1 - Today’s demanding consumer Step #2 - Retail is hit hard Step #3 - How brands have responded Step #4 - Only short-term solutions Step #5 - The correct response Step #6 - What omnichannel offers the brand Step #7 - What omnichannel offers the customer DOWNLOAD OUR REPORT TO LEARN HOW OMNICHANNEL TECHNOLOGY ENABLES FASHION AND LUXURY BRANDS TO GET AHEAD OF DEMAND Step #1 Today’s demanding consumer Fashion may be fast, but even this adaptable industry is struggling to keep up with the consumer. Today’s consumers are increasingly price conscious and experts in looking for the best deals, both online and offline. At the same time, consumers search for and appreciate quality in both product and delivery. How can fashion and luxury brands deal with such complex consumers? With a wide use of mass and social media, consumers are now influenced by a greater array of voices. How can retailers convey the right message to the right audience? Today’s consumers are used to shopping both online and in shops: they want to purchase through multiple channels, and they want to do it fast, but it’s not the only thing they want: they also wish to get a convenient and transparent shopping experience. DOWNLOAD OUR MARKET REPORT TO LEARN HOW FASHION AND RETAIL BRANDS CAN PACE WITH TODAY’S DEMANDING CONSUMER Step #2 Retail is hit hard These fast-evolving consumer preferences are having a profound effect on fashion and luxury retailers. In their haste to meet demand, brands have often responded without considering the long-term impact of their actions on profit and resources. Moreover, brands are losing further margin due to their inability to efficiently process returns through different channels. Lack of visibility is a huge issue for fashion and luxury brands: they don’t have a real overview of where the stock is or how it’s moving. For this reason, returning goods through different channels is hard for a fashion brand that doesn’t control its operations. How can fashion and luxury retail brands have a clear view of stock across channels, devices and supply chain touchpoints? DOWNLOAD OUR MARKET REPORT TO LEARN HOW TO MEET NEW CONSUMERS' NEEDS Step #3 How brands have responded Not only must fashion and luxury brands contend with general retail challenges – such as rising material and property costs, and growing competition – they must also work hard to minimize the losses that can occur at any point along their long value chain. To meet customer’s needs, retailers have turned to technology. Futuristic dressing rooms are just one of the technologies that retailers adopt to engage with customers. The evolution of the shopping experience surely gives customers a sense of theater, and this is something that they really seem to like. On the other hand, brands must keep in mind that logistics and operations are as important as the front-end activities, for example when trying to accurately forecast demand. How can fashion and luxury brands use the same approach for the front-end activities and the back-end operations? CHECK OUT OUR MARKET REPORT TO LEARN MORE ABOUT HOW TECHNOLOGIES CAN HELP YOU EVOLVE FRONT-END AND BACK-END SYSTEMS Step #4 Only short-term solutions As well as front-of-house activities, these pressures have forced fashion and luxury brands to reconsider their operational approaches. For fashion and luxury retail brands it is often very complex to manage and respond to data entering their business. Faced with management systems which are largely confined within individual departments and continue to work in isolation, retailers can’t organize their workforce in an efficient way. That results in an inability to efficiently manage their business and to build a shopping experience that responds to their customers needs. How can these brands ensure the joined-up shopping experience their customers demand and develop the level of insight required to meet their needs in the future? DOWNLOAD OUR MARKET REPORT TO HAVE A DEEPER LOOK AT NEW SHOPPING EXPERIENCES Step #5 The correct response For too long, fashion and luxury brands have tried to make the best of this situation, and have maintained and augmented outdated legacy systems in the hope that they can remain competitive. What do fashion and luxury brands need to be successful? Disparate technologies can’t work together, so what is needed is a new platform onto which integrated solutions can be built or to which existing tools can be introduced to allow brands to see and manage their merchandise, from design to retail. “A heightened level of convenience will be the ultimate customer experience – easier said than done for businesses restricted by legacy systems, but those looking to improve on it from an omnichannel perspective will lead the pack” - Forbes Being fast is the way to know the next fashion trends and get ahead of customer needs. DOWNLOAD OUR MARKET REPORT TO DISCOVER HOW TO GET AHEAD OF DEMAND Step #6 What omnichannel offers the brand Today’s fashion and luxury customers may be more demanding than ever, and retail brands will only succeed by giving them the omnichannel shopping journey they desire. How can a fashion and retail brand design and deliver an omnichannel shopping journey? And what are the advantages of an omnichannel management solution? Well, it’s every customers’ dream to find what they need in the right place, at the right time. To realize that, brands need to ensure stock is always in the right place, at the right time, gathering and collating data from across their business and getting to know where stocks are among companies, inventories and countries. This is the only way to perfectly match to customer demand: that's something that only an omnichannel solution can ensure. DOWNLOAD OUR MARKET REPORT TO LEARN HOW TO GET THE BEST FROM OMNICHANNEL STRATEGIES Step #7 What omnichannel offers the customer By developing operational efficiencies through an omnichannel management system, fashion and luxury brands can deliver the joined-up buying journey their customers seek. What are customers really looking for in a world where they can find everything they need in a click? They want to switch channels, feel free to buy a garment in the shop and return it back through the online portal and viceversa. This seamless buying journey means that customers can be treated as individuals only when channels work together. This way brands are able to fully recognize customer loyalty or personal preferences, and to reward them at every touchpoint of the supply chain. Omnichannel solutions give fashion and luxury retailers the possibility to better meet consumers' needs. DISCOVER MORE, DOWNLOAD OUR REPORT NOW Faster than Fashion - Market Report First name* Last name* Business Email* Company* Role* Phone number I accept the general privacy policy* I want to receive information on upcoming events and interesting contents I want to subscribe to the newsletter I authorize to personal data transfer to third party with marketing purpose connected to thematic of my interest Click here to view our privacy policy. I'm not a robot Dedagroup Stealth s.p.a. 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