Read: 2050
In the past two years, the fashion industry has seen a significant acceleration in digital transformation. Companies have been pushed to adopt digital solutions at an accelerated pace for survival amidst geopolitical turmoil, factory shutdowns, shipping cost increases, and new regulations. The question is not whether to embrace technology; rather, it's about which technologies to implement and how fast.
Digitalization of the fashion industry varies among companies. For some retlers, it's about getting closer to consumers, while others view it as a means to stay competitive in the innovation race or by shortening time-to-market to keep pace with trs. Regardless of specific objectives, digitalization demands a cohesive strategy that integrates all systems within a business through organizational process change pred with modern technologies like Product Lifecycle Management PLM and ML forecasting tools.
Key market shifts for fashion brands and retlers:
The pandemic has forced many to reassess their lifestyle priorities. Consumers now desire balance, freedom of choice, simplicity in living, and value for every dollar spent. As prices rise due to inflation, consumers are becoming more selective with purchases. Brands that offer transparency on environmental and social impacts of fashion gn consumer trust.
While online shopping may seem to supplant traditional retl, customer pdicate a preference for the interaction aspect of physical stores. Integrating digital strategies like e-commerce, social media engagement, and physical store visits known as phygital challenges fashion businesses to streamline these experiences.
Solutions like Centric PLM and Centric Planning can bridge siloed systems by providing real-time data from multiple sources across the planning and product lifecycle stages. This allows for improved decision-making, enhanced product planning and , and faster time-to-market withpowered forecasting capabilities.
Fashion industry definitions of consumer demographics have expanded to include factors beyond age, ger, and size. Brands now use technology to collect data on a broader spectrum to understand their customers' needs better.
While collecting data is crucial for personalization efforts, fashion brands must ensure they're using the data ethically and with purpose. Balancing analytics-driven insights with mntning a touch in fashion is key to building brand trust and loyalty.
Navigating digital transformation:
Fashion companies face numerous options when selecting digital solutions med at boosting agility, replacing manual processes, and connecting more easily with stakeholders across the value chn. Here are :
Engage with your customers: DTC Direct-to-consumer platforms offer a chance to focus on customer experience but require more than just an e-commerce presence. A solution that integrates digital touchpoints can provide valuable intelligence for better consumer engagement, driving loyalty and sales.
Scale up your online service: Data analytics should be leveraged to make informed decisions about products and services. Utilizing data effectively enhances product relevance and overall customer experience.
Centric Software supports over 18,000 fashion brands with their digital transformation initiatives.
Contact us for a deeper dive into how we can help your fashion business stay ahead in this digital age.
Source: Centric Software
This article is reproduced from: https://www.centricsoftware.com/blog/digital-transformation-in-fashion/
Please indicate when reprinting from: https://www.859l.com/Clothing_and_apparel/Digital_Transformation_in_Fashion.html
Digital Transformation in Fashion Industry Consumer Engagement Strategies Online AIML Forecasting in Retail Transparent Fashion Branding Techniques Unified Data Management Solutions Multidimensional Customer Analysis Approaches