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Fast fashion brands are frustrated offline and motivated online, and it is key to grasp e-commerce data and information in real time

Fast fashion brands are frustrated offline and motivated online, and it is key to grasp e-commerce data and information in real time

  • Categories:Company news
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  • Time of issue:2020-11-13
  • Views:8

(Summary description)As consumer demand continues to shift, the appeal of fast fashion brands favored by young people is gradually declining. In terms of the number of stores, the number of new fast fashion stores in China has been declining in recent years. The impact of the COVID-19 epidemic has been a huge negative for fast fashion brands. A large number of stores have been suspended or even closed due to limited travel by consumers.

Fast fashion brands are frustrated offline and motivated online, and it is key to grasp e-commerce data and information in real time

(Summary description)As consumer demand continues to shift, the appeal of fast fashion brands favored by young people is gradually declining. In terms of the number of stores, the number of new fast fashion stores in China has been declining in recent years. The impact of the COVID-19 epidemic has been a huge negative for fast fashion brands. A large number of stores have been suspended or even closed due to limited travel by consumers.

  • Categories:Company news
  • Author:
  • Origin:
  • Time of issue:2020-11-13
  • Views:8
Information

As consumer demand continues to shift, the appeal of fast fashion brands favored by young people is gradually declining. In terms of the number of stores, the number of new fast fashion stores in China has been declining in recent years. The impact of the COVID-19 epidemic has been a huge negative for fast fashion brands. A large number of stores have been suspended or even closed due to limited travel by consumers.

Fast fashion brands are on the decline. Online is a lifesaver

Swedish apparel retail giant H&M said Thursday it plans to close a net 250 stores in 2021, or about 5 percent of the total, after closing a net 50 stores this year because of the outbreak. Sales fell 50% from a year earlier to 28.66 billion Swedish kronor ($3.07 billion).

According to the previous data, by the end of March, H&M had temporarily closed 3,778 stores, accounting for about 75% of the total number of stores. Faced with the severe situation, H&M had to take measures in terms of store rent, personnel employment, credit loans and other aspects to increase revenue and reduce expenditure.

Offline channels have been hit hard, and online has become a "lifesaving medicine". Many fast fashion brands frequently broadcast live on social media and e-commerce platforms, striving to boost online sales. H&M has about 51 e-commerce markets, 47 of which have been operating normally during the outbreak, and its online sales rose 17 per cent in March, bucking the trend. Sales of H&M's brands in March 1, solstice and May 6 fell 57 per cent from a year earlier, but ecommerce sales rose 32 per cent.

Uniqlo bucked the trend and went online and offline

While fast fashion brands are closing stores and luxury stores are laying off workers, Uniqlo is bucking the trend. According to recent media reports, The number of Uniqlo stores in China (direct sales) *** surpassed that in Japan. At the end of August, Uniqlo had 767 stores in China, compared with 764 in Japan. Since June, Uniqlo has added an average of seven stores a month. Not only that, Fast Retailing chairman and President Tadashi Yanai has said more stores will open in China, an estimated 3,000 based on the population. But five years ago, Uniqlo had only 387 stores in China at the end of August 2015, doubling its number in just five years.

By the end of September, The number of Uniqlo stores in China had increased further to 782. While that number is lower than Japan's 814, including franchised stores, it is highly likely that uniqlo will overtake Japan again by 2021 as it expands further in greater China.

In addition to the expansion of offline stores, uniqlo *** launched an AR "digital experience store" integrating online and offline in its stores in Shenzhen Vientiane, to further supplement and optimize the store service experience. Wu Pinhui, CMO of Uniqlo Greater China, said: If a customer wants to know a piece of clothing quickly in this store, besides reading the poster, they can also scan the code through their mobile phone for more intuitive digital communication, and see the introduction of product information, fabric process, wear recommendation and so on. The combination of goods, stores and experiences can better meet the urban style and consumer life needs, so that users can better smart shopping through the "digital experience pavilion" and buy quality goods they really need.

Get to know and grasp the e-commerce data of the fashion industry at any time

As fast fashion brands have seized the market share of online e-commerce, it has become a key part of industry operation to know and grasp e-commerce data of the fashion industry at any time.

A large number of e-commerce data query, summary, monitoring and analysis, so that e-commerce, brand clothing enterprises to pay a lot of manpower and costs, Shenshang technology launched lingxi data products for each enterprise to solve the operation of the key problems.

Click Luxi data → Wangpu found, you can quickly find want to understand the brand store; Monitor the store and keep track of the store dynamics; Comparative analysis, clear comparison of store data, sales, growth at a glance. In the detail page of the store, I have my hands on diversified data such as sales data, category analysis, hot selling goods and design element analysis.

According to the comparison data of H&M and Uniqlo's stores in the past 30 days, although H&M's number of new stores is more than three times that of Uniqlo, Uniqlo's sales volume is about six times that of H&M. Last week's figures were similar, both at more than 40 per cent.

Among H&M's sales data from September 29 to October 11, the sales volume and sales volume on September 21 were the highest, because taobao Tmall launched platform activities during September 21 to September 23. The second is the sale of *** on October 8th, because the user seized the last opportunity of the double-section activity, which promoted the sales.

In the sales data of Uniqlo from September 29 to October 11, compared with THAT of H&M, the sales data of The period from September 29 to October 7 was relatively flat, with the average sales volume around 30,000. But there was also a big increase in sales and sales on October 8th, with sales reaching 85,000 and sales at 11.9 million, then falling rapidly.

In the comparison of shops, Uniqlo's T-shirts, shirts and casual pants account for a relatively high proportion. The proportion of T-shirts, dresses and trousers in H&M is relatively high. It can be seen that in fast fashion brands, T-shirts are still a single item in summer and autumn.

Choose a single shirt for comparison, and uniqlo's collection is much bigger than H&M's. When users choose clothes, they usually judge by the model renderings of the products. The appearance level temperament of the model should accord with the style tonality of the product. H&M's shirt is more suitable for working men, so they chose a more mature and mature male model.

While uniqlo's shirt style is more casual, choosing a sunny and handsome model is more appropriate. But this model looks more honest and honest, wearing this kind of shirt can not fully show the high-spirited young sunshine. It is more appropriate to choose a sunny model with a comely appearance. After we use the AI model system processing, the clothing display effect is better.

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