Technology
Digital a retail apparel must-have, claims report
February 10, 2022
Digital is the starting point for more than 90% of shoppers, and with nearly 70% of revenue coming through digital channels it's imperative for apparel retailers to drive digital innovation.
That's a prime finding of an Incisiv report, 2021 Apparel, Footwear & Accessories Digital Maturity Index, conducted in partnership with Hughes Network Systems.
The report noted 88% of retailers have ranked digital innovation as the top investment priority over the next two to three years, according to a press release on the findings.
Additional findings include:
- In research and discovery, personalization and product recommendations saw the highest growth in maturity. Retailers that added sections for cross selling on product pages saw the most growth at 60%.
- In online ordering, the "buy-now, pay-later" trend led the way with close to 60% of retailers now offering the option. However, one of the most critical components of retail, inventory visibility, saw almost no advancement in maturity.
- In fulfillment, contactless pick-up and self-service capabilities saw the most growth while other pick-up options such as pick-up-in-store and expedited pick-up continue to lag more mature segments in this area, such as grocery.
- In customer service, communication channels such as subscribing for text alerts and virtual assistants saw the most growth (although still low at less than 35% adoption) and shopper engagement capabilities saw the least growth year-on-year.
"The apparel industry has had to endure unparalleled disruption to their business models in the last 24 months. The segment should be commended for the speed by which they have adapted," Amarjot Mokha, Incisiv COO, said in the release. "However, shopper behavior is a moving target, and the industry must still evolve to meet their expectations. We conduct this work to help retailers understand how they compare to their peers and to help identify high impact improvement opportunities based on the complete digital shopper journey."
