Digital transformation is the method by which brand and reputation can be protected in a complex and changing environment. The fashion industry is undergoing changes due to the rise of technology and its impact on consumer behavior is the push for the industry to adapt. Many brands have started various initiatives to improve their speed to the market and implement sustainable innovation in their product design, manufacturing, and supply chain processes.
Major challenge fashion brands are experiencing is the fact that they are increasingly falling behind consumers’ expectations. This is partially due to the fact that the role of the consumer has shifted from one of observance to dominance. Consumers want to be a part of the brands that they are purchasing, they now care about the public image of the products they are purchasing. The majority of consumers are now using digital channels before, during, or after making their purchases. This means that digitalization will become vital for organizations and their consumer-brand relationships. Brands must figure out how to bridge the digital divide while trying to maintain their heritage and identity. Also meaning that a generic or misaligned digital image could widen the digital divide and pose a threat to the brand and reputation.
Fashion brands will need to learn how to balance goals of growth with the strategic risks they face. These risks include evolving regulations, social media communications, increased consumer channels, and broader geographies. Companies will need to increase their vigilance with brand and reputation being the most important factors to protect. It can take many years to build a fashion brand but only a short time to destroy it. This means brands will need to re-imagine how shopping in a completely digital world should play out rather than digitalizing the shopping process. The vast majority if fashion revenues are driven by offline, physical channels, and in order to increase relevance among consumers digital transformation must change the ingrained perceptions about what a company is.
With digitalization, comes the process of digital clienteling, which is delivering personalized customer experience across multiple channels. With more information about consumer habits available now than ever before, it is important for brands to utilize this information. This will help improve conversions and revenues. It is very important for brands to find the right balance between provoking fast results with new ideas and building a solid foundation.
Us at BSAMPLY are working on digitalizing the fashion industry throughout the supply chain, production, sales, and after-sales services. Our services give the players in the fashion community an opportunity to join the digital revolution and optimize their production efforts.