Digital and Analytics are the defining capabilities of the leaders in the Fashion Industry. This is no secret and all the companies in the industry are in different stages of their Digital Transformation journey – some are successful in executing their digital transformation agenda and some are not; because of various reasons, with one of them being the choice of right implementation partner.
We have already seen that online sales have grown across the categories and the markets. However, Digital is not about online sales alone; for example, digital product development processes allow designers and merchandisers to respond faster to fashion trends, reduce sample costs and time to market, and collaborate remotely across teams.
Pandemic, remote working, hybrid working model, the rise of athleisure, sustainability, circular economy, need for self-expression, and consumers engaging with brands through online channels are some of the trends that have necessitated the need for fashion companies to digitize every step of the value chain to provide their consumers with a uniform brand experience across the channels; build adaptive business models that enable new sales-fulfillment options, new ways to acquire customer; and better manage inventory by creating a connected and resilient supply chain.
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