The tech to solve this problem exists.
What an outstanding sum of money raised by M&Co.
Great job Levi’s!
Personalisation when done right (i.e. accurately) makes a huge difference to the bottom line. Even more so if it can be done quickly in stores.
This sounds a great initiative.
Lovely read. Merry Xmas!
Multichannel remains tough until businesses invest in technologies that ‘complement’ across physical and digital (and not compete).
Customers want a great experience and great service that’s consistent across channels. It’s particularly tough for fashion retail, though that’s a good thing for those who get it right first.
Interesting there’s no mention on VR, so much the next big thing? Beacons before that. Now onto voice. Yet this research highlights stores remain the most popular channel.
How is this unexpected? More than 3/4 of sales still go through stores and the role of stores, influencing total sales is in fact far higher, as it supports inadequacies of online.
While offering click and collect and taking back online returns (typically 3-4 times higher than returns of in-store purchases), stores have diluted their service to those visiting who actually plan to purchase.
By so doing, creating an experience that leaves customers cold. They may as well buy online. The service is similarly ‘self serve’.
The big problem for brands is how this is impacting on loyalty. Online is great to compare prices but far less emotionally attached.
Traditional fashion retail needs to focus on in-store service. Arming store staff with technology that enables them to give outstanding service. Not just finding stock or a size for that matter...
Tech that complements between both store and online channels is the future. However the present is this... it’s also the priority for traditional fashion retail. Those who do it first will win back real loyalty. At the cost and demise of those who only follow.
It's not any single technology. It's blending the right technologies. In that regard, I recommend careful consideration before investing in smart mirrors. There are better solutions.
Personalisation, done right, will singlehandedly disrupt the fashion industry. It's great news for customers.
Customer service is about to get much, much better.
Personalisation in-store (that migrates online, not the other way around) is coming to fashion stores this year. It will have a major impact on customer service and loyalty.