What an omnichannel solution is and why you need one
Without a doubt, the fashion industry is a seasonal one, with fashion trends and styles resurfacing frequently in fresh and innovative ways. Even so, until the emergence of e-commerce and social media, the fashion industry's sales model mostly stayed unchanged, despite the periodic reimagining of clothing.
The internet revolution has permanently changed how consumers perceive and engage with fashion companies and stores. Due to the abundance of information available through a variety of channels, including fashion websites, Instagram channels, influencer postings, and targeted online advertising, customers want a smooth experience across all touchpoints. Unable to meet consumer expectations, brands and retailers run the danger of losing customers to rivals or falling out of favor. With over half (55.7%) of fashion sales occurring online, according to ONS, it is safe to conclude that the global COVID-19 epidemic has further hastened the digital shift. This emphasizes the importance of brands and stores having a strong omnichannel strategy.
According to Cor Noorlander, Chief Commercial Officer at international fashion fulfilment service provider Modexpress, "In today's world of fashion and lifestyle, a superior omnichannel solution is crucial." Brands and retailers that have successfully combined their various sales and communication channels into an industry-leading omnichannel solution to provide a seamless and consistent consumer experience only succeeded last year. The US sportswear company Nike, which made significant investments in its digital, cutting-edge, and Nike Direct Sales channels, increased its client base and increased its market share in 2017. Its omnichannel strategy is evidence in the pudding, currently valued at $35 billion. However, according to Noorlander, "even before the introduction of Covid-19, the availability of products via various sales channels and speed to market have been important factors in the growth of respectable brands."
To satisfy and serve consumers' needs, it is essential to have firsthand knowledge of product availability across various sales channels. Brands can always know for sure whether their products are available by utilizing an effective e-fulfillment system that integrates all logistics procedures, including the e-commerce platform, marketplace channels, and more. This guarantees that businesses can disperse their inventory as they see fit. In addition to providing precise stock levels and real-time updates, Modexpress's leading e-fulfillment options also offers extra insights into the turnover rate and return percentages. By making the most of their current inventory, brands and retailers are ensured that they can adapt to any unforeseen market developments and satisfy customer demand across all distribution channels.