I recently attended IMRG’s Fashion Connect in London and had the opportunity to meet with many of UK’s top fashion retailers. It gave me further insight into the constant pressure among the retailers imposed by the new competition, e-commerce, saturation on the market and constant changes. However, some being more successful than others has a direct link towards their strategy, approach, context, and determination
Here are the top seven characteristics that describe the best-in-class fashion retailer today:
1. Clear vision
The best-in-class fashion retailer has a strong and clear vision that connects its fashion to a target customer group.
2. Evolving process
The evolving process includes experimenting with products, thinking outside of the box and changing the store concepts.
Expanding the concept that sells means that there should be some adapting included that will suit different geographies.
4. Investing in e-commerce
Allowing the customer an opportunity to shop online requires investing in an e-commerce platform that will be secure, easy to use, reliable and friendly for the consumers.
5. Having a greener approach
The greener strategy and focusing more on sustainable and environment-friendly fashion is a goal that many retails are focusing on. This includes the use of natural fabrics, sustainable manufacturing process, factory environment for the employees, etc.
6. Seamless shopping experience
Both the e-commerce and the in-store shopping experience is among the important characteristics that define one fashion retailer as best-in-class today.
7. Return policy
Offering a return policy to the consumer’s rates highly among the characterizes one top fashion retailer should provide. The reasons for the return of the items might be different, and the entire customer experience is made better while offering the option of return or change.
IMRG recently posted a blog “What does good look like in 21st century fashion retail” in which myself and other retail specialists had contributed our insights, check it out.
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