Invest in new technologies to manage the rise in online fashion shopping

Increase in online fashion shopping

To say that e-commerce has experienced a real explosion during the Covid-19 pandemic is nothing new. It is not limited to North America, countries all over the world are experiencing a huge increase in online markets. According to a report on online fashion in Spain from 2021, the e-commerce channel has gained 2.7 million customers in Spain and the penetration now reaches 43.4% of the resident population.

Online fashion sales have increased from 9.3% in 2019 to 19.4% in 2020, while 13.6% of consumers have purchased online or are considering doing so. This spectacular rise in an already growing business segment does not mean that Spain will catch up with other more developed countries. On the contrary, all countries, even those which had advanced the most in e-commerce, have experienced spectacular growth. The UK case is a good example as it was already seen as an advanced and mature market, nonetheless it boomed during the pandemic. According to a recent survey by McKinsey and Dynata in the UK, fashion e-commerce is expected to account for 50% of the UK market by 2022, up from the already very high 35% today. In the UK, online market penetration reached 75% in 2020 and is expected to reach 85% next season.

It is not a narrowing of the gap that separated Spain from other fashion markets, but everything indicates that we are facing a real market transformation that affects all countries, regardless of their level before the pandemic. . New consumer buying habits, which were already apparent, have become a normalized preference within a year, and in some segments, even dominant.

71% of the world’s fashion executives expect their online business to grow by more than 20% this year. Industry players are therefore faced with a decisive moment when they will have to make important and relatively quick decisions if they are to stay on a train that shows no sign of stopping.

Invest in technology to meet market demands

The online shopper has become accustomed to standards of excellence and values. Precisely the standards that make logistics management in the fashion industry more complex, such as size availability, delivery safety and predictability, ease of returns, and the omnichannel selling experience with stores. A whole set of requirements that cannot be managed without the use of appropriate technological tools, both for warehouse management and for transport, system integration and logistics management in general.

Many retailers are already investing time and money to improve their digital platforms and develop their online strategies, like the Warehouse Management System, or WMS, which even have specific packs to meet the needs of online commerce. in which inventory management, visibility, traceability, and real-time control are no longer very practical options but essential requirements.

As omnichannel-driven demands become the norm, with customer satisfaction harder to achieve, supply chain professionals must take advantage of advanced WMS technology to keep their operations agile, efficient and scalable, especially in these unstable times. Given the vision and execution capacity of Generix Group, recognized once again by the Gartner analyst community, their Solochain WMS is well positioned to help companies seeking a modern, flexible and agile who can easily adapt to their changing needs. Contact us for more information.

This article originally appeared here. Republished with permission.

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