The holiday season is here, and for some suppliers, their category is entering its peak season. Many categories bank on a specific time of year to capture top sales and introduce new product:
- Toys peak around the holidays
- Candy peaks at Halloween
- Office supplies peak around May-June Back-to-School timeframe
- Health and Fitness peaks after the first of the year
One category which sees multiple peaks around many seasons is also the one seeing the most innovation: apparel. Jessica Hendrix, CEO of Saatchi & Saatchi X, discussed exciting things happening in apparel shopping on a recent episode of Focus on Suppliers.
Why the Need for Innovation in Apparel?
As with everything else in retail, the internet changed the garment game. The ease of shopping quickly made logistics in the apparel industry seamless.
“If you’ve shopped for clothes lately, you’ve probably noticed big changes in the apparel category,” Hendrix begins. “Producing clothes and distributing them online is becoming so easy, new brands are constantly entering the market. With more competition, companies have to rely on more innovation to get ahead.”
Hendrix goes on to show that apparel shopping technology is right in the palm of your hand. Customers are using the phone for everything from text to textile.
“One example of innovation is a new technology that works with your phone to measure your unique dimensions so you get a perfect fit,” she explains. “This personalization makes for a better customer experience and helps manufactures better manage their inventory.”
Supplying the Supplier with Critical Data
When shopping for clothes, the advances in technology are not only good for the customer, but also the supplier. Hendrix explains how brands can better understand their potential customer and use the data wisely.
“Algorithms can also help measure shoppers’ brand interactions and viewing habits to lead to smarter inventory and pricing decisions,” she says. “Walmart’s recent acquisition of Bonobos has removed shopper barriers in a new and noteworthy way. It offers improved digital shopping with a brick and mortar experience.”
Preparing for the Future
Technology in apparel is changing as fast as fashion trends to meet consumer demand! Hendrix sees this as a signal to other suppliers and ends on a thoughtful challenge.
“The innovative technologies emerging in a highly competitive apparel market provide plenty of learnings that could revolutionize many other categories. How will your brand or company continue to innovate to meet the evolving market needs?”
To get more insight from Jessica Hendrix and Saatchi & Saatchi X, check out past episodes of Focus on Suppliers.