The fashion industry – which currently makes up 2% of the global GDP and is valued at over 3 trillion USD – is undergoing a tremendous adaptation with innovative technology and customer behavioural change at the heart of it.
Metail is an online shopper’s dream. Utilising body visualisation technology, it provides an online fitting room solution for e-retailers. This application enables a shopper to enter their measurements (i.e., height, weight, bra size), then provides them with a custom visualisation of the garment’s fit. Metail solves the endless problem of needing to return garments brought online that either do not fit, or fail to flatter a customer’s body shape. Put simply, Metail is revolutionising the online shopping experience by allowing retailers to cut down on the costs of customer returns.
Cookies on e-commerce sites have long helped retailers understand and track online shopping behaviour: what products consumers are buying, what gets dropped from the cart, when consumers shop, and more. But the ability to track consumer behaviour in brick-and-mortar stores is also on the rise. An example of this is Index, founded by former Google employees Marc Freed-Finnegan and Jonathan Wall; together, they raised $7 million [$26 million raised in total] to develop a mobile solution. Users download the app, create an identification pin and upload their credit card information. When they walk into a participating store, Index will know if they have shopped there before and what they have purchased. The user will be notified of new deals – maybe on a favourite item, or an entirely different product that will get them moving into a different section of the store they may have never visited before. With the creation of Index and other similar products on the market, retailers now have the power of data to better engage their customers. This will not only enhance their customers’ shopping experience, but also inform consumer behaviour to increase purchases.
A recent Google survey unearthed that as many as 8 in 10 smart phone owners use their devices in-store to help them whilst they shop. Savvy retailers looking to capitalise on consumer behaviour trends are investing in the rise of eCommerce. This mobile-specific strategy includes one-click ordering, product browsing, search optimization for smaller screens, mobile-specific deals and in-store pick up options.
Beyond purchases however, innovative retailers are using other mobile features to enhance the in-store shopping experience for their consumers to gain a competitive advantage. One such feature is the arrival of ‘shopping-assistance’; this includes navigation tools, mobile redeemable coupons, bar code scanners, inventory checks, product reviews, wish-lists and more. All of which are designed to enhance the shopping experience and drive confidence in purchases.
Measuring the monetary impact of social media has historically been a challenge. Instagram is disrupting this notion to not only promote, but drive sales. As the preferred social media platform for fashionistas, bloggers and designers, independent boutiques are using Instagram to level the playing field and sell products at scale.
Case in point: Fox and Fawn, a vintage store in Brooklyn, reports that Instagram has catalysed a 25% increase in sales. For new boutiques that do not have large advertising budgets, content marketing through social media is a launchpad for early-stage success. Making sales through creative targeted content, heavy call-to-actions and customer loyalty schemes are attractive alternatives to big-budget campaigns. The key to success goes beyond creativity; it lies in retailers’ response rates. It is the act of creating open, organic dialogue with consumers that can be shared. This will open the door to new customer groups – and ultimately, followers.
Fashion Week is no longer reserved just to the elite fashionistas, celebrities or media. With the growth of social and digital media, consumers are now able to gain front row seats via their computers and mobile devices. Victoria Beckham – winner of ‘Best Designer of the Year’ – has been wowing the fashion world since her debut in 2008, and collaborated with Skype in 2013 for a special Fashion Week project. This docu-video provided viewers with a behind-the-scenes peek into Fashion Week and the making of her collection. The show lifted the curtains on the often elusive ‘story’ behind the enigmatic Victoria Beckham, enhancing her brand profile and likability.
Tommy Hilfiger invited twenty local Instagrammers to the label’s fashion show to report on the designs as the models hit the catwalk. The live back-stage reviews broadcasted to their followers resulted in a 55% ‘re-share’ increase for the brand.
The need for honesty and authenticity is essential. The clamour for genuine portrayals of real humans has grown as consumers become increasingly aware of traditional advertising ploys. Brands are rising to the occasion by stepping away from the unrealisable perfection of ad models such as Beyonce and Angelina Jolie. In their place, they are developing concepts and large-scale campaigns around approachable, familiar brand ambassadors.
This need for connectedness and shared experiences was exemplified in the Dove Campaign’s depiction of real women with real bodies. Marks & Spencer took it a step further in an effort to capture the breadth and depth of feminine power with their ‘Leading Ladies’ campaign. This project comprised of a diverse set of holistic role models from Baroness Lawrence to engineer Roma Agrawal.
However, high-street brands are not the only ones cashing in on this trend. Luxury brand Louis Vuitton launched its brand ambassador campaign, featuring a group of men at the World Economic Forum (2014). This Louis Vuitton campaign marked a milestone that other luxury brands have followed – the evolution of a completely unexpected type of fashion advertising. Campaigns that connect by adding layers of depth to a brand – stories that call to the need for authenticity and a desire to see attainable, aspirational humanity in the models reflecting them.
