The Future of Fashion E-Commerce
Through the years, the retail landscape has changed drastically as e-commerce has grown As it continues to evolve, brands will need to continue to make adjustments to survive. In the fashion category, in particular, there have been significant and unique shifts. Continue reading to learn more about the future of fashion e-commerce and how trends have shaped the path forward.
Social Media will Need to be Part of Your Omnichannel Strategy
Social media has become an integral piece of how consumers shop for products. Brands within the fashion category have been pioneers in leveraging social media marketing. As social media marketing evolves and successful brands set the precedent, more brands will be able to take advantage.
Amazon itself has made moves to prepare for the future of fashion e-commerce. Examples include the launch of its influencer program, Prime Wardrobe, and more.
Stores closing is a daunting shift to embrace, but it will make room for digital-minded retailers. Brands that harness social media and technology will be ahead of the curve.
Behavioral Data will Become Even More Crucial to Leverage
According to Trustpilot, positive customer experience delivers 17% revenue growth for companies within five years. But, poorer consumer experience results in only 3% over the same period.
Many brands use several different technologies to track and understand consumer behavior. However, when it’s not streamlined, it can be difficult to turn data into meaningful action.
A strategic partner can be helpful when determining what to look for and how to take action. At Marketplace Strategy (MPS) we use a host of technology, including proprietary software, alongside years of expertise to provide clients the greatest value. Monitoring how shoppers interact with a brand’s advertisements, product detail pages, stores, and more allows our team to make strategic recommendations and optimize.
Brands will be Held Accountable by Consumers and Competition
Because of the internet and social media, a brand’s reputation is permanently accessible. Reviews and the quality of customer service a brand provides can heavily influence shoppers. Now, it’s even more important for brands to put their best foot forward.
This added pressure is forcing brands to deliver on their promises. For example, they have to adhere to shipment windows, honor discounts and quickly address customer concerns. Otherwise, they run the risk of having dissatisfied customers sharing their negative experiences.
Fashion brands experience this on another level. If the items shipped don’t match the description, customers can share photo evidence within the reviews section. In this case, negative reviews are reinforced and more powerful.
But brands on Amazon can use this performance track record to their advantage. Positive reviews not only help to increase conversions but build a connection with shoppers. Brands can also leverage Amazon DSP can promote reviews through advertisements.
Instant Gratification will Drive Transformative Conversations
Fashion brands have been impacted by the demand for instant gratification. They now have to pick up the pace and make products available for every season all year round. This is especially difficult to achieve in a brick and mortar setting, so e-commerce is becoming the primary line of business for fashion.
Another pain point for fashion brands is the negative aspects of fast fashion and e-commerce coming to light. Clothing produced in massive quantities for a low price point is considered unsustainable and bad for the environment. So, brands like Forever 21 are feeling the impact of customer backlash.
Marketing is also having an impact on how fashion e-commerce operates. New strategies like influencer marketing and high-impact social media campaigns push trends faster. This contributes to the demand for fast fashion making it difficult for brands to weigh what’s important and how to proceed with their business plans.
E-commerce is complex regardless of what category your brand belongs to. Fashion is one of the most significant examples of how consumer behavior drives change.
Whether your brand belongs to the fashion category or another on Amazon, we’re here to help. Or, if you need the support of a strategic partner to help adjust for the future, schedule a free consultation.