This article helps in highlighting some of the trends in analytics which, has helped the fashion industry to grow and maximise their Return on Investment.
Fashion eCommerce is evolving rapidly and the competition is getting more fierce. To stay ahead in the industry, it has become important to act proactive and cope with the ever-changing trends and technologies. By deploying the cutting-edge technologies to improve your Magento-built online store, you can take the entire online shopping experience of customers to a whole new level.
Adhering this fact, following here are some of the efficient ways of boosting sales and yield greater return on investment for the players of the fashion industry.
Predicting fashion styles
With the help Analytics, retailers will be able to decipher valuable information about the fashion trends and sales. Merchants can collect data from social media, retail sites, fashion runway reports, blogs across women’s wear, kidswear, menswear and accessories. This, in turn, will provide a detailed and clear insight for taking a well-informed decision and boost sales.
Social Media and Digital Marketing Analytics
Nowadays, merchants invest a substantial part of their capital for marketing analytics costs. Over the years, this trend has increased with the rising popularity of advertising and branding business as well. Online advertising and social media integration via mobile are great on the rise since it can deliver online and offline user experience without any sort of interruption. This has helped customers to build a sound brand image.
Wearables are now the trendiest choice of the present generation. Smart technologies are being embedded into trackers, clothing, sportswear, accessories and much more. Moreover, the data being retrieved from sensors along with contextual data leads to offer valuable insights to the customers.
Managing Seasonal Fluctuations
Fashion retailers often face some sort of seasonal fluctuations as a result of which, they fail to capitalise the unexpected opportunities and attain customer loyalty. Real-time insights help retailers to minimise the losses, changing customer preferences and anticipate surprises. With the help of analytics, you will be able to facilitate greater flexibility in the process of supply chain management. Furthermore, modern analytics help in optimising the 5Ps naming; Product, Promotion, Pricing, Place and People.
Upselling and Cross-selling with the help of Personalisation
Enterprises all across the industries invest in cutting-edge technologies for evaluating customer data and comprehend the pattern of customer behaviour. Furthermore, merchants can be able to personalise the offers of targeted customers as well on the basis of data analysis and reporting. Keep in mind that the merchants will be able to gain, the more engagement they will be able to conduct. Conducting tailored campaigns for your customers on the basis of affinity analysis will greatly help in cross promoting the products as well.
Having these in mind, it becomes helpful for enterprises to run their Magento-built online stores efficiently and make them futuristic by complying the latest industry standards. As the worthy choice, you can opt for professionalised help of experienced eCommerce developers specialised in Magento development and achieve long-term success in the world of eCommerce.