The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
"Big Fashion Names Fund Shopping App" (The Financial Times)
"Spring is a direct-sales marketplace targeting young, twenty-something female professionals that combines the visual aesthetic of photo-sharing app Instagram with the compulsive swipe function of dating app Tinder and the 'favouriting' and 'following' components of Twitter."
"Lucky Magazine Gets an E-Partner to Shop With" (The New York Times)
"On Monday, Adweek reported that the magazine would not be joining Vogue and her sistren at their forthcoming quarters in the World Trade Center, but entering into a bicoastal arranged marriage with BeachMint, a so-called social commerce company based in Santa Monica, Calif."
"Western Brands Strive to Click with Chinese Shoppers" (The Financial Times)
"While the online fashion market in China may have huge potential, it is also fiercely competitive and price-sensitive, mainland retail analysts say. There is no cheap and easy way to break into the market, they add, even for brands that are household names in their home countries."
"Luxury Consignment Reseller Snobswap Grabs $700K to Bring Brick-and-Mortar Shops Online" (TechCrunch)
"The site is working with around 100 consignment boutiques currently (in varies stages of onboarding), who come from all over the U.S., including not only D.C., but New York, Miami, San Francisco, Las Vegas, and even Canada. It has also scored a couple of deals with larger secondhand clothing chains, including Second Time Around, for example, which has half a dozen stores signed up."
"The 'Bloomberg Terminal For Fashion' Tells Retailers Exactly What Consumers Want in Real-Time" (Quartz)
"In recent years, retailers have increasingly embraced big data, instead of simply relying on the intuitive sense of fashion designers and buyers. Stores that have leftover inventory or are out-of-stock on bestselling items, now look to real-time data and analytics to ensure that supply and demand are aligned."
At The Business of Fashion’s Professional Summit in New York last week, Sona Abaryan, partner and global retail and luxury sector lead at tech-enabled data science firm Ekimetrics, shared how businesses can more effectively leverage AI-driven insights on consumer behaviour to achieve a customer-centric strategic approach.
From customer loyalty types to its pillars of personalisation, SAP Emarsys customer engagement provides more than 1,500 companies with personalised marketing campaigns via AI-powered analytics, including Puma, Aldo and Reformation. BoF learns more.
Before fashion businesses can put artificial intelligence to work or target the right shoppers online, they need good data and a deep understanding of who their customers are and what they want. This case study offers a guide for brands that want to truly know their customer, allowing them to make smarter decisions that serve shoppers and drive results.
The US House of Representatives approved a bill that could ultimately lead to a ban of the app, but its path forward remains far from certain.