Fashion is all about applying cultural evolution, a taste, and prejudice of style while designing the clothes. It is a large business that one can expect and includes many roles and responsibilities of a person.
It includes sketch artists, pattern makers, textile manufacturers, couture models, and runway models. The other people are fit models, salespersons, the press, and professional embroiderers. Also, there are roles of tailors, factory workers, store person, and designers.
No doubt, the fashion industry is much affected by market competition. Hence to add in the above list, the business also needs data analysts. It is a professional who might be much more prominent among all the above roles and has a significant role in maintaining the future of the company.
Hurdles in Business of the Fashion Industry
A big problem in the fashion industry is that many customers try and return a new cloth. So it can be neglected by getting information about their right taste. It can be done by maintaining a style profile for each user as per lifestyle and budget.
Thus, one can further suggest a few options that can fit their look and style; then take the feedback and also made the required changes. A company must offer something better to the customers next time as per their interest.
It can help to save losses by reducing the amount of clothing that could be returned due to improper fittings or so, especially in the case of women. So a fashion industry needs to understand the power of using data analytics. It is a revolutionary approach to their business to expect more profits.
Other two main problems are affecting the sales of clothing stores;
– They get to know about their limited stocks when it is too late to manage another inventory as per the demands.
– There is much lag between the order and distribution process.
Thus, as a solution, such a business must have a data processing unit. So that such problems can be solved by using an adaptive supply chain management based on big data analysis.
How Can Fashion Retailers use Data Analytics?
It is a fact that even having benefits and convenience of buying from online stores, many customers prefer to walk-in to the stores. It is to touch and feel the fabric or give a try before buying one.
But this is not enough for such offline retail stores to make their high sales. Thus, data analytics tactics are to learn about various other factors responsible for customer presence within a shop. It all depends on collecting the right data, analyzing it properly, and using it for the benefit of fashion stores and retails.
So a regular analysis of big data can help a fashion business a lot to use a counter-intuitive strategy. It is to plan some algorithms that can continuously learn about their customers. The result can further help them to get the right clothes for their shops, whether it belongs to any kind or name of garments. Apart from clients, behavior data analytics is to plan the right design and management of a departmental store.
To conclude, if you are running a fashion business and you want to formulate a successful growth strategy, NextBee can be your most reliable partner – we are a data-driven company helping various businesses to boost revenue maximization and maintain streamlined operations with the help of Data Analytics.
