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With the coronavirus (COVID-19) pandemic putting a stop to all non-essential travel, technology is now taking a front seat in communication between clothing brands and their suppliers, writes GlobalData.
Michelle Russell, Apparel Correspondent for GlobalData, says: “Buyers are now having to rethink how they work with manufacturers on orders and product design.”
UK clothing and homewares retailer Next is looking at a number of different scenarios to make up for the lack of face-to-face contact with its suppliers, including video conferencing.
Its teams would previously have travelled to factories to work on new product development, but are now asking manufacturers to send samples over. Video conferencing, with one sample at each end, is helping to recreate the process.
Software companies are also stepping in to help, particularly as more employees start working from home to try and stop the spread of the virus.
Tukatech, for example, is offering its CAD customers the opportunity to switch to a cloud license at no charge, allowing them to work from anywhere. While Centric Software has launched a series of quick-start, online collaboration packages designed to get brands, retailers and manufacturers working remotely.
The dynamic of sourcing and machinery trade shows is also changing, with organisers looking at virtual and other digital alternatives as the pandemic forces the cancellation of myriad events around the world.
Russell says: “Companies are now having to find new ways of staying in touch that they maybe haven’t considered previously. So having the right technology in place to enable a company to keep communication flowing across its supply chain has now become imperative if they want to remain operational.
“Next says it will come out of the process with the ability to communicate with potentially more manufacturers than it was previously, and this may be the case for many retailers and brands. They will inevitably find more efficient and cost effective ways of working once this pandemic is over and normal business is resumed.”
Online & In-Store Innovations: The brand has recently introduced digital tabloids and screens in the stores where customers can browse through lookbooks, new collections and mood-boards. This provides the user a more detailed outlook towards the brand and a sneak-peak into the upcoming collection.
He, however, says that Myntra does follow an affordable pricing strategy, which is very different from a discount-led pricing strategy. The online giant is continuously partnering with brands to see how it can make collections more affordable to consumers in Tier II & III cities and towns.
According to a PTI report: The board of directors of the company at its meeting held on Thursday also approved an enabling resolution to raise Rs 400 crore through issue of of non-convertible debentures (NCDs) or other securities on private placement basis in one or more tranches within a period of one year, Future Lifestyle Fashions Ltd (FLFL) said in a regulatory filing.
The kids footwear market can largely be segmented into 3 categories –branded footwear, private labels of LFS players and unorganised players in the market which have the biggest share. This last is primarily driven by the thought process where parents do not wish to spend a lot on footwear since kids outgrow shoes quite soon at the growing stage. Customers are looking for more value for money products and at Skechers, this is exactly what we try to off er to our consumer – style, comfort and value. Another key factor in our growth story has been offering continuous innovation in our products which become a key pull factor for the young ones. Some examples include our Energy Light shoes which light up the outsole in 7 different colours and have USB rechargeable batteries too.
“thredUP’s Resale-as-a-Service platform was built with consumers and retailers in mind,” said James Reinhart, Co-Founder and CEO of thredUP. “After spending the past decade building the backbone of resale on the internet, we are thrilled to partner with the iconic brands in the Gap Inc. portfolio to deliver a convenient, responsible clean out service to their customers. By working together we can pave the way for a more circular fashion future.”
“Even though one of the key benefits of this partnership is social impact, the PUMA and First Mile program has diverted over 40 tonnes of plastic waste from landfills and oceans, just for the products made for 2020. This roughly translates into 1,980,286 plastic bottles being reused,” said Stefan Seidel, Head of Corporate Sustainability for PUMA. “The pieces from this co-branded training collection range from shoes, tees, shorts, pants and jackets—all the apparel is made of at least 83 percent to even 100 percent from the more sustainable yarn sourced from First Mile.”
“For example, we have recently launched ‘alteration at doorstep’. Now this is not an innovation, however, this is something that has been done for the first time in the e-commerce space. We just had to figure it how do we do it in a way that it blends into the user experience,” he explains.
Customers who redeem their credits at Gap Inc. brands will receive an additional 15 percent payout bonus. Starting in April, thredUP Clean Out bags or labels will be available to customers at select Gap, Banana Republic, Athleta and Janie and Jack stores in the US, providing a convenient way to send in unwanted items for consignment. This will be the largest distribution of thredUP Clean Out bags and labels to date under the company’s RAAS platform.
Changes in the composition and structure of Indian families have also been instrumental in boosting the growth of this industry. The rise of the nuclear family in urban India with a double income has resulted in increased disposable income and hence enhanced purchasing power, with parents willing to shell out money to buy clothes for their children. This has given immense opportunity to retailers at all levels and geographical regions to expand their market and what has largely been an unorganised retail sector is slowly organising and modernising itself at a rapid pace.
Soch is an ethnic fashion brand for the modern Indian woman. With the evolution of the woman, her needs, desires and tastes, the Soch product line is also constantly evolving. As a brand, we give our consumers a range spread across occasion and casual ethnic wear, however, we believe that it is our occasion wear range that gives us a distinct space in the mind of the consumers. We believe that a well-priced offering in the premium occasion space is a genuine gap in the market, especially if the consumer wants to look special, and not like every other woman.
We believe in taking our store to where the consumer is. In an increasingly digital world, we have achieved that objective by complementing our retail stores with the Soch website – https://www.sochstore. com/ and our Omnichannel app to enable our consumers to buy what they want, when they want. The global website, serving our consumers internationally has been our new foray in 2019. We have also been pioneers in implementing display technology in our stores. It comprises video walls and tablets which displays content of stock currently in store. It also promotes offers live in stores, helps conversion at the point-of-sale by helping consumers appreciate product details better like fl ow, look, ensemble etc.
USP: Inner Sense is a disruptive healthy, organic anti-microbial lingerie brand addressing the highly underserved eco-friendly female innerwear products category. The products have natural bacteria inhibiting and anti-odour properties, have 3x more wickening than the counterpart cotton with no pesticide or carcinogen used in the production process. The brand creates a bridge between hygienic, eco-friendly and fashionable lingerie.
Indian fashion is at crossroads as consumer profiles are getting blurred. A consumer in a metro / Tier I city is no different in terms of aspirations and spending power from consumers based in Tier II cities. The increase in consumption and awareness of fashion can be attributed to factors like immense penetration of the Internet as well as increased disposable incomes. The easy access to the Internet and the increase in traveling has made Indian consumers technologically informed, aware of what’s in vogue and hence, highly demanding. The shift in buying power and expectations of new-age, evolved consumers has compelled fashion retailers – both online and offline – to better cater to their desires.
There’s ease of doing business for start-ups with the new policies in place. The process to register a new company is fairly easy which makes the initial phase a bit easier. One can focus on the company versus all the legalisations, etc., at this point which really helps when you are a small company.