Each and every industry today is using data analytics to keep up with technological evolution and changing industry trends. Fashion industry too has become a part of data analytics to keep up with the changing demands of the clients and latest trends. Data analytics lets fashion companies to look into the consumer interests and behavior and act accordingly. With the help of the data collected from the sources, fashion houses get insights on how to serve the customers’ needs better.
Nowadays, customers see an apparel design or style on the ramp and wish to have it for themselves, a concept called “fast fashion.” That’s when the fashion business needs to be aware of the demands and needs of the customers and cater to them immediately. Data analytics can be used to help fashion houses to act quickly for the ‘fast fashion’ customers by studying the demands of the customers and keeping a track on their changing preferences.
Read on to know how data analytics has changed the way fashion houses operate with changing times
Fashion companies with the help of data analytics collect data from different sources and analyze the behavior of their customers. Cognitive computing provides a fair amount of data to the companies to know closer what their customers might want. Businesses study the collected data and collaborate their production to deliver accordingly. The data lets the fashion companies know what could be the item that could be in most demand and most probable for sale. It also gives information about by when the item could be sold to help fashion houses manage logistics and costs.
Companies can draw inputs from the analytic data on how customers tend to behave in stores and shops to manage each store and design items for them. Despite the technological advancements, people prefer going to stores to try and buy outfits. Using wi-fi signals from the customers’ smartphones, the fashion houses track and analyze data such as the number of people visiting the store, the time they spend inside, etc. Hence, companies use location-based analytics to track the data about what customers most buy, spend the most time with and what they prefer seeing. They can also know the customers’ purchase history and the kind of things they buy to create a personalized experience for their buyers.
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With the use of technology and gadgets, customer data is collected and analyzed to provide better and appropriate customer service. Analyzing customer behavior and keeping close contacts with them to know their demands and preferences will help in deriving business intelligence and improve the way fashion businesses are run. Catering to the needs and requirements of the customers is eventually the ultimate goal for a successful business.
Silver Touch Technologies is a leading IT partner catering to the global clientele in various technologies like big data, cloud computing, IoT, etc. We have extensive experience in delivering effective Fashion ERP and software solutions. Get in touch with us for all your IT requirements and we shall be happy to serve you. Write to us at firstname.lastname@example.org with your business concerns.