No matter what channel you sell through, fit matters, says Ed Gribbin, president of Alvanon
Sometimes it feels like not a day goes by when we do not read some dire news about the state of bricks-and-mortar fashion retail – from bankruptcies to store closures.
Supposedly, the cause of this disruption is the exodus of consumers to online shopping in general, and the unstoppable growth of Amazon in particular. But the reality is that the industry is going through a much-needed purge of under-performing stores and brands that have not evolved to understand and engage their customers.
Shoppers will continue to gravitate towards online platforms, where price is king, but most fashion is still an emotional purchase. Bricks-and-mortar retailers have innate advantages when it comes to making that emotional connection. Amazon’s dominance may be exaggerated but the reality is that most brands and retailers are countering with a combination of traditional retail strategy and technological innovation designed to engage their customers.
A successful traditional retail strategy is still all about having the right product at the right time, along with a high degree of exclusivity in a unique and entertaining environment. Cookie-cutter stores in cookie-cutter malls, all carrying similar product, will soon be extinct.
No matter what channel you sell through, fit matters. This report on the business of fit examines how innovative brands and retailers are using data to build optimal fit strategies, and how they can capture, retain and delight more customers to develop their businesses, even in this “apocalyptic” retail landscape.