After a dramatic rise during the pandemic, global growth in e-commerce sales in fashion has slowed with the easing of restrictions. As consumers become more discerning in their fashion spending in the context of high inflation and the climate emergency, building an omnichannel presence incorporating sustainability should be at the heart of industry players’ strategies, to deliver the convenience of e-commerce, but also the distinctive experiences that only the physical world can offer.
This report comes in PPT.
After a dramatic rise due to the COVID-19 lockdowns, the growth of e-commerce sales in fashion has been slowing down globally since the gradual easing of restrictions around the world, and consumers have returned to physical stores.
While consumers still expect the convenience of e-commerce, they also seek the personal service and distinctive experiences that only physical stores are able to deliver. In this context, building an omnichannel presence has become paramount for fashion brands and retailers, even among digitally native direct-to-consumer (DTC) brands.
Leveraging tech for greater personalisation
Consumers favour brands that they feel listen to them, understand them and pay attention to their specific wants and needs. Savvy brands need to use digitally enhanced retail, digital tech and AI to create relevancy, foster loyalty and ultimately boost their bottom line.
Sustainability: An underlying force shaping retail
As the pressure grows from both consumers and regulators to make the fashion industry more circular, retailers and brands need to adapt their distribution and retail strategies by encouraging repairing, promoting recycling, and facilitating resale and rental.
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