As the lifestyle of people around the globe is changing each day, like all other markets, the apparel market is also dealing with changes too. There are a number of challenges and growing demands on the consumer’s end making the industry a tough competition. Entering into the field of clothing one understands that there is a numerous number of people with thousands of demands each day.
Building customer relationship: –
Meeting all these needs each day can prove to be a tedious task for the retailers, so as to overcome this challenge these fashion retailers are trying to understand their consumers with each passing day. They take the help of technology to understand consumer behavior.
These apparel companies like NOW Entertainment use CRM system. CRM stands for customer relationship management.
Companies use CRM systems to understand and analyze their customers which help them come up with products that meet their customer’s satisfaction. They can also store their previous customer’s data for future use. This CRM software is a major part of digital marketing as well.
There are certain major technologies used by the fashion giants to meet keep up in the competition.
Use of IoT in the Industry: –
A recent study by Retail Vision stated that 70% of retailers are ready to invest in the IoT(Internet of Things) to bring the best real-time experience to its consumers. It helps to build an easy communication platform between the retailers and the consumers with a clearer idea as to what is the current market demand.
Artificial Intelligence and its benefits: –
AI is the most essential technology contributing to the growth of the fashion industry. Rather than manually collecting the data, today’s smart retailers are depending on the Artificial technology to gather, analyze and organize the data reducing the gap between the production industry and the market demand. Which in return brings a huge rise in the sales of their products.
Mobile marketing-The god of technologies in the industry: –
Mobile commerce is yet another big name in the fashion industry. This technology comprises of online marketing and selling of apparels all over the globe. There are certain brands and products in a particular country which cannot be manually accessed by each and every buyer but to cut short the distance and bring the term globalization into action, mobile marketing plays a really important role. As we all know the global access to the internet is growing at a tremendous rate these days mobile marketing has brought immense profit to both the sellers and the consumers.
Virtual reality-Doing wonders: –
Virtual reality is new in the world of fashion, bringing in some shocking rise to the companies. There is a certain platform that let you try-on-avatars. Applications like dressingroom are letting buyers try clothes on a particular avatar using virtual reality.
To sum up the above we can say that the major reason for rising retailers like Now Entertainment in the fashion industry or apparel market is technology.