When a tailor-made design intelligence solution is a perfect fit for a fashion brand,

it’s #Digitaligence at work!

The world of fashion is dynamic – Industry players are finding it increasingly difficult to keep their customers engaged. The vagaries of fashion in the age of the connected, always-on customer, threatens to erode market share and competitive advantage.

Leading Fashion houses & retailers partner with ITC Infotech to reach ambitious growth targets, in an increasingly complex and competitive market. Clients at the intersection of fashion, business & technology use ITC Infotech’s Style Performance Analytics (SPA) solution to integrate latest technologies across their value chain and create innovative, winning products.

STYLE PERFORMANCE ANALYTICS – A CRYSTAL BALL TO PREDICT PRODUCT SUCCESS

BUSINESS CHALLENGES

Designer: Numerous avenues exist for new design inspirations; however, there is no mechanism to validate success. In the past, designers have had to rely on their “instinct” only, while selecting designs. New designs have to appeal to changing consumer tastes, while staying true to the brand’s philosophy

Merchandiser: Category allocations are made based on individual judgement with little or no data to back decisions. Performance data of past seasons, if available, exists on disparate systems which makes manual extraction tedious. Quite often, there is a lack of technology for analysis drilled down to the design attribute level

Store Manager: The success or failure of a style is highly unpredictable. Unfavorable designs can result in unsold inventory and increased markdowns to clear stock. If line plans are not spot on, it will lead to lower conversion rates and customer dissatisfaction, resulting in brand erosion

Market Challenges: Longer lead time and short product lifecycle, fast-paced design trends, regionally dispersed design preferences and competitive differentiation, complicates the designing process

Organizational Challenges: Lack of integrated customer insights, speed-to-market, validation of new design ideas and fact-based reporting to influence decision-making

SOLUTION OVERVIEW

Converging market performance of styles and customer preferences with design attributes residing across multiple business systems has been a consistent challenge for fashion retailers. ITC Infotech’s Style Performance Analytics combines data from sales, customer and product management systems to derive powerful insights improving success rates and sell-through of styles like never before.

Style Performance Analytics leverages style by breaking it down based to individual attributes (color, fabric, fit, trims, and embellishments) and ranking them according to sales value. Designers and merchandisers collate and comprehend design attributes according to style trends and customer preferences. The new design collations in the market are essentially a combination of bestselling attributes and fresh designs that are not only favored by customers but also enhance brand loyalty.

  • Identifying complete customer preferences and combining data generated trends
  • We collate information on the best delivering styles to understand fast and slow moving attributes
  • Creation of favorable product lines, by merging best sellers with fresh designs
  • Validating a mechanism for design inspirations, in tune with changing consumer tastes and brand philosophy
  • Integrating and automating performance data to make sound category allocations for merchandise
  • Standardized mechanism for spot on line plans, leading to higher conversion rates, clear design stocks and customer satisfaction

RESULTS

  • Enhanced customer experience
  • Increased sales with fact-based customer-focused designs
  • Implemented on existing ERP/PLM/BI infrastructure, our preconfigured solution can be easily customized to meet unique business requirements – reducing time-to-value
  • Faster ROI by combining product development and business intelligence
  • Easier data retrieval by mapping style and image on a single platform – leading to higher user adoption

RESOURCES

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#Digitaligence

3X

Spending among middle-class consumers globally will almost triple by 2030

24%

Of in-store shoppers ranked online activity as one of the three most influential activities

$380 bn

Estimated reduction in cost through automated checkouts, by 2025

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