Fashion Meets Technology – Choose Well, Be Well!
By Geetanjali Sarna and Amit Prabhakar Gaitonde, Wipro
Despite the growing use of technology in all facets of life, fashion retail has continued to play it safe when it comes to utilizing technology to further innovation and the customer experience. While traditional views still dominate the industry, technology innovations, if applied correctly, can really help elevate the creative process. Some companies have taken baby steps toward addressing the major pain points customers report, but there is so much more that can be done through technological innovations that have the potential to change the retail landscape.
The most prolific example of technology rapidly changing the customer experience in fashion retail is the increased interest in contactless shopping. With more than 70% of consumers claiming the checkout experience is the biggest pain point, many retailers are attempting to update the checkout process using methods like Apple Pay or Samsung Pay in order to create a seamless, efficient and convenient checkout process.
Where implemented, contactless payment has helped to eliminate the hassle of a long checkout line and increased security for customer payment information. Some retailers like Walmart and Amazon are working on pilot programs that allow customers to purchase products without waiting in line at all by ringing up items while they shop or as they exit the store using mobile apps. Beyond contactless shopping, artificial intelligence has been continuously growing across all markets.
Retailers have started using AI to power their e-Commerce experience. With the ability to convert large, diverse data sets into enriched information, AI can help improve speed, cost and flexibility across the value chain. Companies like LVMH use an AI service that can predict fashion trends based on an analysis of images shared on social media, and brands like Tommy Hilfiger have begun using tools that gauge customer sentiment regarding products and runway images.
As AI continues to grow, we can expect existing AI applications to be further refined and new AI solutions to be introduced in the market, to enhance personalization and provide better recommendations to users.
As the fashion industry continues to focus on personalization, technologies like facial recognition software will be utilized. Many devices from laptops to ATMs allow us to log in using facial recognition, and this same technology could be utilized by retailers to tailor experiences for customers or recognize VIP customers.
Retailers could enable devices to determine customer satisfaction based on their facial expression. Facial recognition could also be very helpful in letting retailers see which in-store displays are most effective in getting the customer’s attention; could play a role in supporting product selection; or make more informed decisions on store planning. For consumers, this could also mean retailers should be more attuned to their immediate needs in providing service and information.
Additionally, retailers like Saks Fifth Avenue have adopted the software to safeguard against known shoplifters, while Walmart is using it to monitor checkout lines gauging customers’ moods while they wait in line. If they appear annoyed or impatient, it could alert managers to staff additional registers.
Imagine a customer standing in front of a shelf with multiple brands of bags in different colors and prices, confused about which one to buy. A simple message on their mobile device could offer assistance or could recognize a shopper, pull past purchases and use that information to make recommendations.
With the proliferation of mobile-based POS, customers can check out anywhere in the store. This not only helps disperse lineups but also helps employees offer a more informed customer experience. Using this technology innovation, staff is more equipped to answer any customer query at checkout time.
Without the added burden of a long line of impatient customers, they can take time out to thoughtfully talk to customers through their purchases and help them make an informed buying decision. For example, Walmart has announced a pilot whereby customers are able to line up items via the company’s app while they shop. Therefore, by the time they are done putting everything in their cart, all they have to do is press “pay” and head home with their merchandise.
As technology continues to grow, we can expect it to become more integrated into landscapes that have been traditionally slow to catch up. Leading apparel retailers today are setting the trend with the use of these innovative technologies, and we can certainly expect this space to become more competitive, providing consumers with personalized shopping experience and enhanced shopper choices. Technology in retail has the potential to revolutionize the customer experience and grow a retailer’s bottom line.
References
https://www.businessoffashion.com/articles/fashion-tech/5-technologies-transforming-retail
https://www.forbes.com/sites/rachelarthur/2018/01/15/ai-ibm-tommy-hilfiger/#15381ba378ac
Geetanjali Sarna is Principal Consultant for Wipro’s Consumer Packaged Goods sector and has several years of experience in the retail and management consulting industry. Amit Prabhakar Gaitonde is Managing Consultant for Wipro’s Consumer Packaged Goods sector and has more than a decade of consumer-packaged goods and retail experience working with Walmart, Target, PepsiCo, and Unilever.