The Fashion “Evolution” from a Retailer’s Perspective

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!

As a Data Analytics Lab, specializing in retail, with a deep and intuitive understanding of the apparel- retail industry, we at IntelligenceNODE have been studying consumers of fashion for quite some time. And our observations have been very interesting, especially from a retailer’s perspective.

We discovered 3 main types of fashion consumers:

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Refurbished goods, An offshoot e-tail industry – A booming business

E-Tail has become a booming business all over the world. While online retail contributed just about 0.4% of the overall retail market in 2014 (India), it is expected to reach 3 per cent of the total retail at $32 billion by 2020, according to a Technopak study.

This is supported by the mobile internet traffic statistics as well. Mobile data traffic in India is projected to grow 24-fold between 2013 and 2018 at a CAGR of 88 per cent. Clearly, an indication of the way the winds blow.

But as amazing as the ecommerce numbers sound, there is an aspect of e-Tail that we all have not given much thought to. Ever wondered what happens to those products that we order online, maybe try out, and send back to the e-Tailer?

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What Small Businesses Think of Big Data and Analytics ?

The big data trend has been gaining traction rapidly in the international markets. Almost all the multinationals have their own data analytics arm; or they outsource this service from the many data analytics companies that excel at it.

But, it is undeniably true that many organizations today are making data waves. But, it is also the undeniable truth that most Small Businesses are yet to join this bandwagon. It’s been estimated that with the rapid spread of mobile devices and the “Internet of Things,” the world is generating more than 2.5 billion gigabytes of data every single day.

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The Promise of Large Retail Sales- Webrooming

You wish to buy new boots; you have been looking for a good design sometime now. You trawl various online marketplaces, looking for options, prices and ideas. You select a few popular brands; add them to your wish list on many of your favorite websites. You narrow down you list to three possible choices.

Now you are sure that you will buy one of the three pairs this weekend. Why weekend? Because that is when you can go to the mall of course! You can go to your favorite shop, try out a few other pairs just for fun, and finally get that coveted pair of boots too! And the trip to the mall means checking out all the new stuff, in person and even splurging a little more than you initially intended. All in all, a good day, then.

If you have done this, you will be pleased to know, you are not alone. There are many who check out products online, but end up buying at brick and mortar stores. The marketers have a new buzz word for what you are doing. They call it ‘webrooming.’

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Toasting the New Year…

Today is the last day of 2014. You might even end up reading this in 2015. The New Year is literally, round the corner. And it will roll in with great fanfare, all over the world.

This is one night that everyone on the planet chooses to party away without reservations. There will be the usual – great food, great conversations, lots of cheer, and of course- lots to drink. It is universally accepted that the best way to celebrate, and especially the coming of the New Year, is by toasting it.

Worldwide consumption of alcohol circa 2010 (WHO report) was equal to 6.2 liters of pure alcohol consumed per person aged 15 years or older, which translates into 13.5 grams of pure alcohol per day. As a rule, high-income countries have the highest alcohol per capita consumption and the highest prevalence of heavy episodic drinking among drinkers.

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AI- Seeing the Future!

We have heard this word many a times. Sci-fi movies are always quoting AI as if it’s a household word. Artificial Intelligence has interested scientists and enthusiasts for a long time now. Ever since mankind developed the computer, the ides of AI has taken root.

It would not be farfetched to assume that in a few decades artificial intelligence will be a large part of our lives. It already plays a significant role even today- just look at Siri or Cortana for example. These words are very familiar because we can ask them various questions and they probably answer them accurately.

Whenever we hear the words AI, our curiosity is piqued. So what’s all the fuss about? Artificial intelligence (AI) is the human-like intelligence exhibited by machines or software. . The AI field is interdisciplinary, in which a number of sciences and professions converge, including computer science, psychology, linguistics, philosophy and neuroscience, as well as other specialized fields such as artificial psychology.

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The Mandatory Opinion Piece – The Flipkart Big Billion Sale…

6th October was a landmark day for online retail sales in India. People (read millennials mostly, although others were also involved) literally changed their daily schedules so that they could log on to flipkart.com the moment the much advertised Big Billion Day Sale opened.

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Virtual Friendship – A Reality Check…

With social media becoming the new “friendship test tool,” it is becoming prudent to ask whether friendship is even a real relation any more…

The philosopher Aristotle said, “In poverty and other misfortunes of life, true friends are a sure refuge. They keep the young out of mischief; they comfort and aid the old in their weakness, and they incite those in the prime of life to noble deeds.”

Friendship is valued highly because it is one of those relations that we choose to make. But today the choice is, more often than not, virtual. We are just a click away from forming a friendship, mostly, online.

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Big Data and Bespoke Services

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.

The fact that customers are aware, though, does not deter marketers from selling their products in new ways. Aiding this quest for novel ways to maximise the shopping experience is Big Data. Big data is the term for a collection of data sets so large and complex that it becomes difficult to process using on-hand database management tools or traditional data processing applications. The challenges include capture, curation, storage, search, sharing, transfer, analysis, and visualization. Everything about Big Data is rather large. The promise that big data holds is many fold.

Big data is large and complex and rather daunting if not utilized correctly. Organizations have spent millions of dollars analysing and compartmentalising big data. Big data has aided research in many scientific pursuits. The Large Hadron Collider experiments represent about 150 million sensors delivering data 40 million times per second.

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