K3 and Drapers in this report delve into some of the topics shaping the future of fashion retail covering:
- the potential for augmented and virtual reality to revolutionise the in-store and online experience
- what role artificial intelligence has in transforming the way retailers analyse, predict and serve customers
- Innovations from around the world to watch from beacons to invisible payments and insights from interviews with 65 senior fashion brand executives
Nowhere is the pressure to transform being felt more acutely than by retailers that service a core base of younger customers, such as the fashion retailers. They are being pushed into quickly adapting their models to consider the ways these individuals are now choosing to interact – which is predominantly via mobile devices. This is certainly cranking up the levels of complexity for many retailers.
It is evident from the findings of this report that the successful retailers will be those that use technology intelligently to connect and transform their ability to respond to the growing demands of the customer, and to deliver an enhanced customer experience.
Keeping ahead of technology can be demanding. The myriad of innovations available today make it critical for retailers, when implementing new technology, to work with a partner that understands their needs and helps to identify the approach that will best support their business objectives. Equally it is important to work with a partner that knows how to integrate the latest technology with industry best practice, to produce optimised processes that reduce effort and maximise output – now and into the future.