A new consumer decision journey calls for a new value chain
As part of the pre-COVID-19 pandemic buying journey, fashion consumers used to browse websites and read online reviews, and then try on clothes physically in-store before deciding to purchase them. Today, due to the ongoing health crisis, this journey has drastically changed for good. Shoppers are skipping this step altogether and online browsing has become the crucial step that leads to a purchase decision.
This new consumer buying decision journey affects the value chain at every level, from ideation to storefront. Fashion companies that have grasped this and adjusted quickly by changing the way they collaborate, work and sell clothes have managed to turn their businesses around, using digitalization as a stepping-stone into the future, namely PLM software.
The importance of using next generation PLM software to digitalize processes
More coordination, efficiency, precision and speed are required throughout the entire product lifecycle for companies to thrive in this post-pandemic world. This is inciting fashion companies to rethink their workflows, and digitalize their processes in order to compete in this new landscape. They have been using PLM software for years. However, traditional PLM solutions have historically only satisfied the product development process. Today’s fashion companies need next generation PLM solutions that cover the entire design-to-sales process to meet complex consumer needs. They need solutions with DAM, PIM and PLM capabilities that can help them collaborate effectively, simplify the ideation-to-design process, improve their product quality as well as optimize their sales channels.