Home / Knowledge / News / Information Technology / Data reveals loss to retailers due to non-size standards
Data reveals loss to retailers due to non-size standards
13
Jun '13
Analysis of new and emerging sources of customer-centric “big data” could help retailers increase sales by up to 25%, virtual fitting room provider Fits.me says– by enabling retailers to stock accurately for the “forgotten fifth” of shoppers whose measurements fall outside or towards the extremes of typical size sizing standards.

Retailers generally know what they actually sold, but have few ways to know what they had the potential to sell, offline as well as online.  But, with way more than a million shoppers having entered measurements and fit preferences in the virtual fitting rooms of Fits.me’s clients, a vast array of anonymous customer data has already been captured, while additional fresh data is collected every month.  These data include the measurements and preferences of not just those shoppers that actually bought, but of those that left the store without buying.

Such data reveals what a retailer could have sold if they’d had the right stock, in the right sizes, in the right locations – a practice that Fits.me has termed ‘intelligent stocking’.

Heikki Haldre, co-founder and chief executive for Fits.me, said: “If retailers use emerging big data sources to analyse the measurements not just of their actual but their potential customers, they can buy stock in better proportions than currently.  This will enable them to engage shoppers that are currently forced to look elsewhere when shopping.”

Yet there is significantly more sophistication than simply buying-in stock in better proportions.  In December 2012, Fits.me revealed that average male waistlines in Birmingham are more than an inch bigger than in Brighton, raising the possibility of using detailed, regional analysis to determine the sizes to stock in bricks and mortar stores in different cities, and in what proportions.

“No-one is seriously predicting the end of clearance sales, but smart use of big customer data could see an end to rows of a particular garment, all in the same size, all at clearance prices, all because the buyer got the proportions wrong or sent them to the wrong part of the country,” Haldre said.

A casual analysis of menswear data reveals that the best growth opportunity for retailers exists with larger sizes: only the smallest 5% of men are part of the 26% that are not catered for by normal ‘S’, ‘M’ and ‘L’ sizes in the UK, France, Germany and the United States.  However, 21% of the largest men are not catered for when sizes stocked end at size ‘Large’.

A similar analysis of womenswear shows that 7% of women qualify as a size 6 or smaller, while 13% are only catered for by a size 20 or larger, forming the “forgotten fifth” of women.

“There is quite a long way to go with big data solutions,” cautions Haldre.  “The analysis algorithms are complex and still being evolved.  One of the reasons for that is that shoppers simply aren’t guaranteed to buy the size that a size chart recommends – if only it were that simple.  In fact, only about half do, while the rest buy one or even two sizes up, or one or even two sizes down - and that varies from garment to garment and garment-type to garment-type. 


Must ReadView All

Courtesy: EVG photos from Pexels

Apparel/Garments | On 16th Aug 2018

Bangladesh ups garment export target to $32.689 bn

The Government of Bangladesh has increased the country’s readymade...

Indian investors interested in denim production in Vietnam

Textiles | On 16th Aug 2018

Indian investors interested in denim production in Vietnam

Indian fabric firms are shifting attention from China to Vietnam,...

India's textiles, apparel exports fall by ₹8000 cr: Govt

Apparel/Garments | On 16th Aug 2018

India's textiles, apparel exports fall by ₹8000 cr: Govt

India’s textiles and apparel exports dropped by nearly ₹8,000 crore...

Interviews View All

Top executives
Indian retail players

Walmart's acquisition of Flipkart endorses the humongous opportunities in...

Mohammad Mamun Ar Rashid
UL VS Bangladesh Ltd

Productivity, creativity and innovation play a vital role in the growth of ...

Smarth Bansal
Colorjet India Limited

We would like to venture more companies into the Indian market

Harsh Shah

Fynd is the central online shopping destination for fashion, offering...

Tejas N Patel, Navin D Patel

Founded in 1999 by Navin Patel in the name of Tejas Fabrics with 100...

Hardik Sanghvi

Idealin Fogging Systems has been engaged in designing and manufacturing...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Ayyappa Nagubandi
Broadcast Wearables Pvt Ltd

Hyderabad-based Broadcast Wearables has come up with the country's first...

Mr Ambrose Chan
DSG International (Thailand) PLC

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Chandani Sahi
By Chandani

By Chandani is a womenswear prêt couture brand with fusion silhouettes by...

Anisha Chaudhari
Threads & Shirts

Threads & Shirts is a freshly-tailored concept providing men/women a...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


August 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search