The Crossroads Of Clothing Retail: Rebirth Or Leaving?

Since the "new retail" wind began to blow, many Clothing retail Enterprises have been scared, worried that the business will be "new retail" wind blown away.

Their concerns are justified. Compared with the previous changes, the innovation of clothing industry in the new retail era will be unprecedented. Facing the rapid change of the market and the increasingly fierce competition, the traditional clothing retail has entered a crossroad: the "Inaction" of the brand merchants will mean the elimination and will leave the market in a dark mood. If we can take advantage of the situation, the clothing retail industry with a long history will glow with new vitality. So, what should brand companies do next?

Various trends indicate that Clothing retail We have a great probability to see two phenomena. On the one hand, several clothing giants with top revenue will have strategic cooperation with internet giants at the capital level, and establish fashion retail vane in terms of online marketing, mobile payment and intelligent scene technology. By investing in one or two giants, we can find out the mode of online and offline traffic integration in the clothing industry, and then popularize the mode to the whole industry in the form of technology, and rapidly endow tens of thousands of brands and millions of retail physical stores, which is an effective way for Internet giants to layout the clothing retail industry.

The cooperation between Tencent and Hailan home is a good example. At the beginning of 2018, it invested 2.5 billion shares in Tencent. For Tencent, Hailan home has become a huge offline traffic portal, through which Tencent ecological technology applications are distributed. For Hailan home, with the advantages of Tencent's online traffic and technology, the online and offline integration is upgraded rapidly. This is a win-win for both sides.

On the other hand, the major clothing brand merchants embrace new technology and use high and new technology to fully empower offline clothing retail stores to enhance their competitiveness.

The global clothing retail giant, Ling Zhi fashion, applies the face recognition passenger flow statistics of Tupu technology to analyze customer portraits, and actively explores data-based operation. Through the passenger flow statistics function of face recognition, the store can establish a customer profile of the store's passenger flow from the dimensions of gender, age, expression, new and old customers, and length of stay, which provides data basis for adjusting operation strategies and helps store operation improve the conversion rate from the perspective of matching real to store passenger flow.

Lily, a business fashion brand, cooperated with tmall to open a smart store in Nanjing West Road, Shanghai, and launched a "magic mirror" with artificial intelligence technology. When consumers enter the store and take a photo in the "magic mirror", they will be able to get the effect picture with the same proportion as the real person from the virtual fitting mirror, and try out the clothes they like at one time. If tangled, "magic mirror" will automatically help you to recommend collocation, try direct order settlement. It's not just a gimmick to apply artificial intelligence technology to clothing stores. Attracted by the magic mirror, the passenger flow of Lily's smart stores tripled in the morning.

At present, the problems of high inventory cost, low service efficiency and low information accuracy have brought great trouble to clothing retailers. The application of RFID technology can effectively solve the "pain point" of retail industry. In foreign countries, Zara, a Spanish fast fashion brand, benefited from the application of RFID technology, and its parent company INDITEX group's sales and profits increased by more than 5%. Fuana group is also well aware of the value of RFID technology, and has successfully solved the problem of anti-counterfeiting and anti-counterfeiting by cooperating with Guangzhou lovini Information Technology Co., Ltd. by implanting the RFID electronic tag into the product during the production process, the monitoring and data collection of the whole process of production, storage, logistics and sales are realized, and the fake goods are avoided Therefore, it can protect the interests of the enterprises through dumping and selling goods on the Internet.

We believe that data and technology will be at the core of connecting consumers and brands. So, Clothing brand Businessmen need to re-establish a young perspective to examine this long-standing but brand-new industry, and actively embrace new retail and new technology.