Top Trends Impacting the Global Fashion Retail Industry
Over the past few years, the fashion industry has felt the same pangs and witnessed major disruptions as the rest of the retail world. The changing growth rates, market dynamism, and disruptive technologies have given rise to a more connected and discernible global customer base than ever before. However, it has been observed that fashion brands that have been able to quickly innovate and meet the growing consumer needs are the ones that have witnessed long-term success. The accelerating pace of growth in the fashion industry makes it important to devise a sustainable and innovative business model to stay competitive. Here are a few trends impacting the fashion retail industry:
- Delivering a seamless experience across all customer touchpoints
- Fostering brand loyalty
- Investing in and delivering personalized services
- Staying competitive in a uniquely crowded market
Infiniti Research has been successful in leveraging its market intelligence expertise to offer detailed insights into 300+ apparel and fashion retail industry firms. Our clients range from small/medium-sized companies to market leaders- spanning across producers and brands, vertical fashion retailers, multi-brand apparel retailers, department stores, and luxury-goods retailers.
About the Client
The client is a leading player in the European fashion retail industry.
Predicaments Faced
The client- a well-known European retail industry player was facing a decline in their overall sales rate along with a dip in the frequency of shoppers. Hence, they decided to conduct a market intelligence study to understand the dynamism in the European fashion retail industry. The fashion retail industry client wanted to leverage market intelligence to gauge customer behaviors and understand the extent to which internal and external, controllable factors were playing a part in their dipping sales rate. Infiniti Research was engaged to conduct an in-depth market intelligence assessment by considering both qualitative and quantitative aspects.
Solutions Delivered
By systematically leveraging market intelligence the retail industry client gained
in-depth insights into- the European retail industry, the reason for changing customer preferences, and their competitors. An initial evaluation of the focus groups was followed by a detailed quantitative survey of gathering market data to gauge the customers’ opinions on specific areas of concern. The market intelligence study helped uncover the reasons behind the client’s dipping sales rate while suggesting proactive measures to prevent its future occurrence. Based on the recommendations offered by our market intelligence experts the retail industry client was able to prioritize their efforts on factors that would bring the greatest impact to their business results.
The market intelligence solutions also empowered the client to pre-determine resources and adequately allocate them to meet the changing market requirements. Moreover, our market intelligence solutions also offered information on the market size, market analysis, competitor analysis, and growth predictions.
Our pioneering market intelligence expertise and global network enable our fashion retail industry clients to drive change and flourish in a fast-changing and unpredictable industry.
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