Real-world shopping is as important as digital and 67 per cent of Generation Z prefers to purchase in-store, says Criteo's latest apparel trend report, which fuses internal behavioural data with market research from external sources like Marketwatch, IBM, and the National Retail Federation. The report reveals that it is a very exciting and innovative moment for retailers.
About 69 per cent of US Click and Collect shoppers — who comprised a third of all US online shoppers in 2015 — made impulse purchases while picking up merchandise in store, and more and more retailers are opting for showrooming and click-and-ship as a way to better manage inventory, cut back on employee shrinkage and increase customer loyalty.
A 2016 analysis of 180 campaigns within the Criteo retail network showed that exposure to paid search resulted in a 48 per cent average increase in share of category consideration and a 43 per cent average increase in share of category sales. But within the apparel and accessories category alone, those average boosts were even higher, at 51 per cent and 47 per cent, respectively.
The apparel industry also implemented certain work-around strategies to address some of its biggest e-commerce challenges. Online retailers can offer extra detailed, 360° views of clothing, explore software solutions like ReadyReturns that automate and simplify retailers' return process, and offer complimentary return shipping to appeal to the 68 per cent of online shoppers that want the option, to reduce still-high rates of returns (around 28 per cent).
Brands can now initially produce more limited quantities, then act on available sales information, managing volumes to avoid too many products ending up on the sales rack, to counter growing expectations of deep discounts. (KD)
Fibre2Fashion News Desk – India
| On 18th May 2022
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