The October retail revenue results reported last week indicates retail sales to slow into the holiday season. With so much economic uncertainties ahead, shoppers are expected to continue to tighten their spending. The financial crisis in the Euro zone could potentially drag this weak economy into another recession.
In this tough economic times, consumer are reconsidering their priorities, values and buying habits. Merchants on the other hand, are re-approaching products and pricing to win the customers. Technology is also changing how supply chain is done and how consumers shop and buy. These key market trends will make the retail landscape in 2012 and beyond more complex and challenging than ever.
And as you are finalizing your 2012 annual plan and reviewing your strategic plan to combat the difficult times ahead, here are the 10 key to success in selling fashion online in a multi-channel environment for you to consider:
- Define the branded dreams and fantasies.
- Deliver a clear, consistent, end-to-end branded promises.
- Be accessible.
- Wow the customers with the most-wanted fashion and products.
- Convince the customers to pay full price.
- Know the customers so well to predict what they want.
- Attract, develop and retain high value customers.
- Build lasting relationship with the customers.
- Provide the best-in-class customer service.
- Incorporate a holistic integrated multi-channel perspective
Successful brands such as Nike and Victoria's Secret have one thing in common. They don't just sell you sneakers, bras and panties but they sell you the dreams and fantasies. In the multi-channel era, a winning brand is the one that is capable of transcending its brand's DNA in all aspects of execution and providing its customers with a branded, seamless multi-channel experience.
Now, let's hear from you. What are the key to success in selling fashion online in a multi-channel environment? Let's hear your thoughts in the comments section below. Thanks.
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