The Drapers Future of Fashion event took place on June 8 in London where retailers gathered to discuss innovation in a new era. Leaders from Asos, Harrods, Lacoste, Ted Baker, Perry Ellis and more shared insights and learnings on cutting edge technology, customer centricity and the power of collaboration.
Key themes from the sessions included:
- Sustainability
- Personalisation
- Digitisation
- Data-driven decisions
- Shared service logistics
- Frictionless shopping
- The power of community
- Pricing
- Localisation
With 40% of all clothing now purchased online in the UK, retailers are more focused than ever on how to balance the physical with the digital experiences. Even with post pandemic returns to new norms, consumers are looking for speed and frictionless service and transactions.
New technologies and digital transformation are driving the need for more data and integrated data to make more accurate decisions and create more efficiencies. The need for data, however, is now more challenged than in years past as consumers are becoming more sensitive to sharing—thus increasing the need for security and first party access.
Additional conversations focused on hyper personalisation to enhance the customer experience and the future of the supply chain. The latter relying more on 3pl and real time stock visibility.
Overall, the topics were a continuation of post pandemic themes, with retailers redefining the people, process and platforms needed to compete in the new era.
