We apologize for adulterating one of retail’s most famous principles. We simply want to highlight the role data plays in modern retailing’s quest for detail. Be it optimal pricing, store layout, supply chain, logistics or merchandise, there is no facet of retailing that is untouched by the benefits of data insights. A clear understanding of different customer profiles, their frequency of shopping & average money spent on each visit are considered as the cornerstones of retail success. The metamorphosis of retailing from brick-and-mortar to e-commerce has changed the dynamics of success in this space. Data-driven insights have been instrumental in that change.
The French have always made even the most mundane things appear artistic. From gastronomy to couture, the French are renowned for being, well haute! Also, being one of the most open minded nations out there helps with fashion does it not?
Maybe that is the reason; the Festival de Cannes gets more and more interesting year after year. The Lumière brothers are credited with making the first exhibited film (L’Arrivee Du Train or the Arrival of the Train). They were also the mentors of the Cannes Film Festival.
What is the one thing you would tell Mark Zuckerberg, Jeff Bezos or Larry Page & Sergey Brin if you are riding the same lift, together? You have less than 10 seconds to think, formulate words and speak up. What would you tell them, if you wanted them to hire you- on the spot, without a doubt?
In times of old- all fashion was custom. Apparel had to be designed or sewn by hand. It was only when social disparities started blurring that businesses started selling mass produced apparel; and people started buying it.
The industrial revolution brought standardization to the apparel markets. From gathering raw materials to creating standard fits- the industry has scaled new highs every year. The global fashion industry revenue, circa February 2015, has gone up to USD 1.2 trillion.
This iconic image from Breakfast at Tiffany’s has taken over the active imagination of people all over the world. It has, literally changed and broken many stereotypes about fashion.
Since we are a part of the fashion industry, at Intelligence Node, this image has three takeaways for us:
One, the lady herself!
The ephemeral global apparel business is a challenge to stay in and adapt to. The size of the global apparel business is growing exponentially and is expected to generate double digit growth between now and 2020, much of it coming from developing markets.
In a world so saturated with choices, retailers and manufacturers are having to change their ideas about fashion with the speed of light, or perish!
Mobile is becoming the integrated platform to get almost everything done today. And retailers are very aware of this fact. A lot of know- how, reports and miscellaneous facts exist online and offline about mobile platforms.
This knowledge is now becoming a healthy return on investment for many businesses. Consumers are now using mobile devices to shop, exchange ideas and create personal histories. Ecommerce websites and etailers are cashing in on this deluge.
Today retailers have many strategies to attract the highly intelligent customer. Customers of goods and services are becoming more and more aware. Their knowledge of different competitors leads them to buying the best product at the lowest rate possible.
After the Snowden debacle, the image of big data analytics has been marred by a stain; that of theft of privacy, a basic human right. Snowden disclosed a large number of top secret NSA documents to several media outlets. The leaked documents revealed operational details of a global surveillance apparatus run by the NSA and other members of the Five Eyes alliance, along with numerous commercial and international partners.
The disclosures have fuelled debates over mass surveillance, government secrecy, and the balance between national security and information privacy. Two court rulings since the initial leaks have split on the constitutionality of the NSA’s program to collect metadata on nearly every telephone call made in or to the United States.