Software Is Driving Key Decisions At Fashion Retailers
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SOFTWARE WILL LEAD FASHION: When discussing e-commerce, we often focus on online retail. However, software is also transforming the physical in-store shopping experience as well. Former Gucci board member Enrico Beltramini argues that software is enabling large fashion retailers such as Nordstrom and Neiman Marcus to collect and analyze "gigantic flows of information" about their customers. Rather than trying to mimic digital-first retailers that don't own or operate physical retail stores, bricks-and-mortars should be thinking about how they can use software to suit their benefits and needs. For example, sales associates could assist in-store shoppers by tapping into a customer database that stores insights about that person such as past purchases. (Business of Fashion)
QUOTE OF THE DAY: " … There is no contradiction between the survival of traditional sales channels, like physical stores, and the emergence of software-driven decision-making. In fact, technology might just be what keeps traditional stores alive." - Enrico Beltramini, found of the Fashion Technology Accelerator and former Gucci board member.
RESURGENCE OF CLOTHING CATALOGUES: Digital-first retailers such as Birchbox and Rent the Runway are now printing product catalogues. With what many consider to be an "old-school" method for selling retail products, a new wave of e-commerce companies say it's simply about being present at all of a customer's touchpoints throughout the day. Product catalogs could also introduce digital-first retailers to consumers who are less tech savvy. (AdWeek)
H&M'S MISSED OPPORTUNITY: Clothing retailer H&M is currently promoting its spring fashion line with an online ad campaign that some are saying fell short of its potential. Each ad contains several outfits from the spring collection, as well as additional information about the items. However, H&M limited the marketing potential of the campaign by not including the social and video elements of the ads on mobile. Some industry professionals believe H&M missed an opportunity to appeal to the growing number of people who watch video on their mobile devices - which accounts for nearly one-fourth of all online video viewing. (Mobile Commerce Daily)
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SNAPDEAL NEARS $1 BILLION: Snapdeal, an online marketplace in India, could surpass $1 billion in sales this year, said CEO Kunal Bahl. Back in 2012, the company projected that it wouldn't hit $1 billion sales until 2015, but an extraordinary 500% growth spurt in the last 12 months has put the company on track to reach the milestone ahead of schedule. Snapdeal's primary competitor, Flipkart, is also expected to reach $1 billion in sales this year. The two e-commerce giants are vying for market share in India's fast-growing e-commerce market. (Times of India)
REVEL LAUNCHES NEW VERTICAL: iPad point-of-sale technology provider Revel announced that it has launched a new system specifically for wineries. The system integrates data about local alcohol shipping laws, which vary from state to state. The service follows a trend toward offering full business management solutions through point-of-sale systems. (Revel via PR Newswire)
TWITTER HIRES COMMERCE HEAD: Twitter has hired Philippe Dauman Jr as its new director of commerce partnerships. Previously, Dauman worked at Google where he was head of partnerships for Google Wallet. Twitter has yet to officially launch its new e-commerce services, but we know it's been working on an infrastructure that will allow users to purchase items that are advertised in tweets. (@pdauman)
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