Data-driven winning strategies for fashion brands
Three strategies to tap into the e-commerce boom.
Fashion marketplaces continue to dominate e-commerce. It is nigh on impossible for manufacturers to keep track of who is selling their products where and at what prices. Find out in this white paper, which specific strategies can help you benefit from the e-commerce boom.
Extract from the content:
The fashion industry is teetering on the brink of a second Roaring Twenties. The outlook is bright: sales are picking up after the declines during the pandemic and McKinsey predicts they should exceed pre-crisis levels by between 3 and 8 percent as early as 2022. But not every player will prosper, and fashion brands are increasingly feeling the pressure.
The pandemic has revolutionized consumer behavior for good and intensified the shift to the web. E-commerce is the new normal for retail, and the fashion industry is no exception. BEVH, the German association for e-commerce and mail order, found that online sales rose by around 20 percent to hit 99.1 billion euros from 2020 to 2021, with the trend still on the up.
Fashion marketplaces continue to dominate e-commerce. Here retailers offer branded products, sometimes at cut prices. In Germany alone, there are around 75 such platforms, which makes it nigh on impossible for manufacturers to keep track of who is selling their products where and at what prices. While the platforms are a surefire way to reel in customers, they make it difficult for manufacturers’ online stores to sell jeans, tops and so on at regular prices while maintaining an image as a premium brand.
To make up for the continued decline in sales from brick-and-mortar retailers, fashion brands must find new ways to boost their direct-to-consumer (D2C) business. But sale promotions from authorized and non-authorized retailers alike season after season make this anything but easy.
But it can be done with the right strategies. Over the following pages, allow us to introduce you to three of them.
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