How retailers can come up with quicker, superior resolution in a move to react quickly to shifting shopper demand? The retailers are under noticeable pressure in order to respond continuously evolving fashion trends. The consumer’s demands are continuously changing with the fashion trends, whether its design, fabric types, colors or even the modest technology. The major point is to get known about the product that would be saleable in stores and at what time. To cater the most sensitive moods ever of shoppers, there is a requirement of precise anticipation, buying and planning the merchandise.
The retailers will voluntarily agree that the buying behavior is hard to forecast. There are many reasons which can affect the behavior, such as fashion trends, style-setting by celebrities, brands, monetary-standards and even the change in weather. These irrepressible outer issues can lead surplus stock, heavy loss, and stock wear-and-tear. Simultaneously, the greater than ever before competition in the High-Street to offer ‘Fast Fashion’, urges for lesser lead times, enhanced sourcing and buying plan.
Additionally, many times merchandisers and consumers cope-up with plans for various seasons at single time, foreseeing the trends for one or even two upcoming seasons. Also, they have to take care that the errors from the current season are not being carried-out into upcoming seasons. One of the major difficulties, which retailers have to face in a response rapidly to evolving consumer demand, is a blend of rigid systems and a short of on-time information. Converting data into real-time information is one of the problems faced by present business houses.
Tons of data can be produced is a seconds, however very little amount is helpful and provides gainful information. Thus, the retailers are on constant expedition to search the ways that can offer rapid action, better decisions and make them to test in advance, analyze them after production and alter them faster if the production doesn’t match the desired results. In all these regards, it is palpable to move towards technology. However, the better decision is a result of a perfect mixture of good information quality and the experience and expertise of the people who take the decision. Regardless of best technology that gathers data and presents information, it is the know-how factor which supports in the decision-making and initiatives, and really counts.