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Content Traditional approaches vs. modern approaches The entire merchandising process is undergoing an evolution as more roles are taken over by smart algorithms, AI, and platform retailing solutions. Traditional ways of thinking are being replaced with more effective, data-driven merchandising processes that can react in real-time to actual demand. But what does this mean for
Content “Just like Netflix knows which movies to recommend local viewers everywhere, brands can recommend relevant assortments to local consumers everywhere. Using data and platform technology. On a platform, brands and retailers can respond to local retail demand by dynamically adjusting local retail assortments and adjusting the flow of merchandise to retail, while respecting agreements
Content “In light of these sweeping changes, a retail executive might be tempted to rip up the roots of their business model and institute hasty reforms. The wiser approach is to analyze granular details about customer preferences and remain agile in responding to them”. Richard Bezuidenhout, Global distribution operations manager, Daniel Swarovski Corp. The modern
Content “The fashion industry knew the system was broken but kept the wheel running all the same. Now it’s time for a reset.” Adriana Hoppenbrouwer, Partner at The Fabricant Our perspective is always 100% hindsight. According to our backward-looking viewpoint, fast fashion brands are doing remarkably well – despite McKinsey’s 2020 forecast of a 30%
Content “…what is now really clear when we re-open the stores [is that people] really want to meet us in both channels, physical stores and online. They want to do both.” Helena Helmersson Chief Executive, H&M Group What is patently clear is that there needs to be a balance between physical stores and ecommerce. Nowadays,
Content Retailers and brands had to deal with considerable constraints on their business as the COVID pandemic unfolded. Some of these constraints will remain dominant factors in retail for many years to come. Although we want to think that these events are an exception rather than a rule, retail operations should include resilience and contingency