Connected consumers, empowered by the ability to widely share information and voice their opinions, are basing their purchasing decisions not on brand loyalty but on their personal priorities—value for money, fast or same-day delivery, and unique designs that reflect their individual style. This dramatic shift in expectations, predicated on digital technology that empowers shoppers to inform and influence other shoppers is fundamentally changing how fashion consumers behave.
Consumer demand in the fashion industry is not changing in isolation. Increase of choice and ease of access to information is revolutionizing markets worldwide. The global economic and technological shift, ubiquitously known as digital transformation is the bedrock supporting the rise of the connected consumer and is reshaping the way products are created, consumed and monetized.
In navigating this change, fashion companies are finding themselves confronted with a variety of business models, products and processes that ultimately give fashion consumers the power to impose a new value proposition and the freedom from established supply chains to access products, services or information that they want.
Success in serving the needs of the connected consumer favors companies with the closest connections to their customers and the best understanding of the changes in the market. The winning formula is to discover, as quickly as possible, the consumer perspective behind technological adoption and then to exceed their expectations by rapidly developing innovative products and services, delivered with superior customer experiences.
To exceed the expectations of discerning and informed shoppers, forward-thinking fashion brands are transforming their operations by shortening the distance between themselves and their customers. They are taking advantage of state-of-the-art digital communication, data analytics and automation technology tools to gain continuous understanding of consumer needs and execute smart manufacturing processes that enable them to respond faster to changing demand in the fashion industry.
“By approaching digitization in a proactive way,” says, Daniel Harari, Chairman and Chief Executive Officer, Lectra “companies will be able to adapt easily to a constantly changing environment. The most foreseeing players will reap the rewards of Industry 4.0, whose deployment will intensify over the next few years.” Having continual access to innovation and consumer insights will enable fashion companies to future-proof their businesses by delivering exceptional customer experiences at the speed of demand.