Catherine Qian

Want to increase your search conversion rate? Make sure you have search redirects when you have a category already created for it Sounds simple but so many retailers don't do this - but why wouldnt you? You have Merchandisers/Traders that spend a huge amount of time optimising a category to improve conversion rate and sell through rates but then when a customer searches for that category they get a varied mix of products and sort orders Take the image for example on HERA Clothing. The Men's Hoodies category looks to have been well merchandised likely based on a number of rules around best sellers, slow moving stock etc. but the search results shows a completely different sort order for the exact name of the category Plus the result shows a few incorrect products that arent Men's Hoodies Its these simple tweaks that enabled us to deliver a conversion rate double most of our competitors when i was running a retailer. Something every retailer should be optimising as we now come into peak Paul Richardson

15

One for the Fashion Retailers in my network! Think with Google has just released the key findings from their recent study on "Why Fashion Retailers should be emphasising their individuality". The key message is that consumers are feeling overwhelmed by choice, and that the way to cut through is by differentiating yourself really clearly. They suggest 6 angles to differentiating a fashion brand - I'd be interested to know if you think there are alternatives! Here's the link to Google's summary : https://lnkd.in/eSc3jnC5

4

AI is no longer just an intriguing concept - it has become an integral part for retailers looking to gain an advantage. The impact of AI is crystal clear from the plethora of recent news stories (Nike, Marks and Spencer, Boots UK, Zalando etc) and the associated profit growth, didn't happen by chance - they prioritised digital innovation.  As we move towards peak trading, retailers who have been slow to embrace AI need to learn from those ahead of them in AI adoption. First is to ensure data integrity, the cliched mantra, rubbish in, rubbish out is worth noting. At the heart of any retail operation is data, alongside core systems, handling everything from supply chain and stock management to sales and HR. These systems churn out massive amounts of data that AI tools need to access. But that data must be accurate for AI to deliver trustworthy insights. Ultimately, retailers should view IT as an engine for growth rather than a cost-centre. Isn't it time to integrate commercially minded IT Managers within leadership teams and Board rooms? Data is an asset. Understanding data is profit opportunity. #ai #retail #ecommerce

8

1 Comment

Interesting moves Colin Lewis. This is great for Ocado Retail and I'm interested to see how the customer experience will play out - especially given the existing sophisticated checkout journey of offers, completion, cross-promotion, substitution etc. Exhaustive and exhausting ;) Any insight on how/whether this links with Ocado Group and Ocado Technology so that the capability can be deployed for their global clients? If offered to their clients, will the service integrate or extend to InStore #retailmedia too?

9

Discover how Morrisons leveraged Merret to launch and scale its clothing brand into one of the UK’s top 20 fashion brands. With Merret’s seamless integration and unmatched scalability, Nutmeg executed a nationwide launch, meeting demand with ease and efficiency. Curious how our solution can power your retail success? Download the case study and see how Merret helped Nutmeg grow into a national favourite!👇 Download the case study here: https://lnkd.in/e5gWQvuZ #RetailInnovation #CaseStudy

14

A couple of big announcements from Next recently, although delivered in their typically understated way of a business with supreme internal confidence. When it comes to their results, Next are masters of under promising and over-delivering and their announcement packs a punch. The group raised its full-year guidance yet again, with pre-tax profit estimate being raised from £995mn to £1.005bn, a record result and a huge psychological milestone to achieve. The standout fact for me was that Next is now a c£5b business and £3b of that comes through their digital channels. In addition to the flagship Next brand, the business owns Reiss, FatFace, Joules, MADE.COM, as well as JV deals for the UK with Victoria’s Secret & Co. and Gap. Together they grew full-price sales in the third quarter by 7.6% against estimates of 5%, underpinned by strong growth from online (7.9%), retail (2.9%) and overseas digital (20.4%). The number is particularly important given the Next’s growth aspirations to become a global business. Next are also now one of the most important online operators through their Next Total Platform – a plug and play service that incorporates website management, warehousing, distribution, marketing and more. This platform now generates £1b in revenue and is critical chanel to market for many brands. The recent announcement that Next has launched Seasons, a contemporary fashion and luxury e-commerce site, comes off the back of them selling more and more product at the higher end of their pricing architecture. It will launch as a subsite before Christmas with brands including A.P.C., Ganni A/S, JOSEPH, Marc Jacobs, RIXO and VEJA. Despite all the negativity in the luxury online space, following the collapse of MATCHES, the downsizing of FARFETCH, and the integration of YOOX NET-A-PORTER into Mytheresa, there feels a huge opportunity for Seasons to be an alternative platform, especially at the accessible / contemporary market level. Medium term, Seasons plans to stretch their pricing architecture and admit to already speaking with the Kering and Richemont brands. Publicly they are committing to selling as much as 75% at full price, but as we know, that is easier said than done. This platform will pitch Next directly up against the FLANNELS platform from Frasers Group and it will be interesting to see if brands chose one over the over. However from listening the way wholesale revenues have fallen for luxury and contemporary brands over the past twelve months, don’t be surprised if brands need sell to both. The challenge then will be all about the quality of the product edit, end-to-end service and consumer storytelling, and this is where Next would hope to win. Take a look https://lnkd.in/eHh673eu DHR Global #retailnews #ecommerce #onlinefashion

83

21 Comments

Print on Demand is Blowing Up 👇 In 2022 it was a $6bn industry, in 2032, it’s expected to be worth $64bn! It’s a style of ecommerce when you never have to deal with international suppliers. They’re local to the market you’re selling into, the ship fast, and the customers love the products… The products you put onto your store you already know sell very well… And the best part is, you don’t need invest thousands into inventory like you do with amazon FBA… Instead, when an order comes in, you collect the money, your supplier is automatically notified & the ship the product for you… Meaning you never have to touch the products you’re selling… In the past 10 years I’ve been doing this full time & sold close to $10m of these products. Most of that time I spent working from home! I got to see my kids grow up, I got to experience their milestones, all their firsts, awards they received at school and competitions they took part in…we’ve travelled, take regular holidays together and I get to be there to enjoy mornings and afternoons with them without the border of a 9-5! The type of ecommerce I am referring to is print on demand…all you need to do is create designs on your computer and upload to a suppliers website and list them on Etsy… Would you like to learn how you could make an extra $5k-$10k/mo in as little as 2 hours a day? 💥‼️ COMMENT the word POD below & I’ll send you the details. #wifimoney #printondemand #sidehustle #sidehustles #wifimoneyfromhome #manifest #etsysellersofinstagram #printondemand2024 #printondemandcoach

1

What’s been happening in retail this week? · boohoo reported group sales declined 17% YoY to £1.4bn in the year to 29 February, driven by “difficult market conditions”. The fashion retailer's pre-tax losses widened to £159.9m in the period from £90.7m last year, with gross profit falling 16% to £756m. UK sales declined by 16% to £921m, impacted by the macroeconomic environment, price investments, and changes in the sales mix due to the expansion of the Debenhams marketplace. · Zalando confirmed its full-year guidance for 2024, expecting revenue and gross merchandise volume to rise between 0% and 5% YoY, with adjusted EBIT projected between €380m (£326m) and €450m (£386m). The retailer reported a first-quarter adjusted EBIT of €28.3m (£24.3m) and a 1.3% increase in gross merchandise volume to €3.3bn (£2.8bn). Revenue reached €2.2bn (£1.9bn), down from €2.3bn (£2.0bn) in the previous year. · TALA entered its first physical retail partnership with Selfridges from 10 May across all four Selfridges locations. · JD Sports Fashion opened its first store in the Middle East at Bahrain’s Marassi Galleria Mall in collaboration with global retail partner GMG, spanning 5,422 sq ft. · Morrisons acquired 38 convenience stores from SandpiperCI on the Channel Islands, including shops already branded as Morrisons Daily. The stores, which reported a turnover of £124.5m last year, were part of a franchise agreement since 2018. The deal's terms were not disclosed, but approximately 520 SandpiperCI employees will transfer to Morrisons. · Asda launched LS Eleven Media Services in collaboration with SMG, utilising first-party customer data from Asda Rewards for enhanced retail media campaigns. · Frasers Group announced a partnership with developer AND Digital, innovation specialist Valtech and agency Lab Digital to overhaul its digital infrastructure across brands, enhance operational efficiencies and online experiences. The platform will feature hyper-personalisation and improved product discoverability. · Currys plc is partnering with Accenture and Microsoft to deliver its core cloud infrastructure and leverage the latest AI technologies. It aims to enhance operations, elevate the shopping experience and improve experiences for colleagues. · Amazon announced plans to build a £500m robotic warehouse in Northampton, projected to be fully operational by 2026. The facility, featuring three floors of robotics technology for stowing and picking customer orders, will initially create 1,400 jobs, ranging from engineers to HR, finance and IT staff. This is just a selection of news this week. Sign up below for more insight ⬇️ https://lnkd.in/d-z25aM

267

5 Comments

We recently completed an analysis of the delivery and returns propositions of the UK’s top 100 fashion retailers. Check out the report if you’re interested in: - The true impact of charging for returns - Who is charging for returns - What delivery methods should you offer - How should delivery and returns be priced I found researching this report fascinating and I had a couple of opinions change, particularly around charging for returns. #ecommerce #retail #delivery #returns https://lnkd.in/exnKkfc2

70

4 Comments

Asos plunges to £120m loss as sales nosedive amid turnaround plan Asos losses widened to £120m in its half year as sales plummeted amid its turnaround plan. Adjusted pre-tax losses fell by almost a third over the half to 3 March, as group sales were down 18%. Despite this, Asos reiterated its full-year guidance of a revenues fall of between 5 to 15% alongside positive adjusted EBITDA. The online retailer said it was ahead of plan with its stock reduction process, as it continued to push ahead with its turnaround plan. Asos offloaded 83% of its autumn collection, making it a 17% improvement from the same time last year. #asos #online #retailer #ecommerce #stock #sales #plan

1

Great article covering the rational of our acquisition by Hi-Tech.

33

5 Comments

#SXSW Session with Jere Calmes, CEO of THE ICONIC, on impact of AI in fashion retail. Top points are how AI will supercharge product discovery through personalisation - beyond customer surveys, using AI to sift through customer behaviour data and produce targeted customer insights. Also, using AI to revolutionise the supply chain and control levels of waste and over production through more accurate demand prediction. We all know the issues of last season's stock taking up space in the back of the warehouse.... They're employing AI LLM in on-site search so customers can ask "what to wear to a dinner" vs search for "black jacket". But, I wonder how to intersect these two, LLM search and personalisation, to get the answer to "what should *I* wear to a dinner"? That's the holy grail.

24

Asda expanding Exceptional is a broadly sensible move. Driving margin, point of difference etc. But it's evocative of Tesco 2013. They revamped Finest with the block signage and highlighting of it everywhere. The challenge is that it impacts price perception. You have to be so careful, Tesco can do that now as their price perception is strong. Almost can "treat" yourself due to the low prices; Aldi match etc. Then Finest becomes "aspirational." The challenge for Asda is that another message alongside Aldi/Lidl match (one of the most challenged campaigns ever), Low price lock, Cashpot loyalty, Joe Wicks Cashpot for Schools plus the branded messages absolutely everywhere..... Just overloads the customer and achieves nothing. The Asda customer is price sensitive and highlighting premium in ordinary times would be a refreshingly different as a message. Alongside their relentless pricing message. But in the current environment; I am concerned that it'll alienate more customers in search of value, as the prices for premium product are naturally higher by default. Not easy. #asda #retail #premium #messaging

19

2 Comments

any retailers who need insights into their physical store footfall and trends should contact Keith as the VisionR solution is a SaaS solution which is easy to deploy

2

At a 64 Bn Market Cap, Shein is poised to become one of the largest retail IPOs in recent times. For perspective, Alibaba was around 170 Bn at its IPO in 2014. Shein is set to secure the 12th spot among the world's largest retailers by market cap, with a value just shy of Target's 71 Bn. In the realm of pure-play Apparel, Shein is positioned as the third-largest player, trailing only Inditex and TJX. Exciting developments are underway as Shein engages in discussions with renowned brand owners such as Colgate Palmolive and Hasbro. The platform is gearing up to offer a diverse range of products, including consumer goods, skincare, and toys. This strategic move signifies Shein's ambition to diversify its offerings beyond apparel, positioning itself to enter into competition with established players like Amazon across various categories.

5

AI Driving Hyper-Personalization In Retail! Whilst most are still in the very early phases of implementing AI into their businesses, we have already seen the mass of opportunities that it brings. ▶️ 52% of retailers intend to employ GenAI within the next 12 months for content creation ▶️ 25% aiming to utilise it for brand campaigns and marketing which is a growing trend among those seeking to maintain consumer loyalty. I have mentioned in other posts that there have been setbacks with this AI implementation, but when is there not a setback when trying new tech? The benefits and new customer experiences this can provide are fantastic and extremely exciting! #ai #artificialintelligence #genai #retail #consumer

7

2 Comments

Is it time for more joined-up thinking between retailers and their supply chains? The recent heatwave in the UK is nothing compared to what the workers at the bottom of the supply chain of the UK's leading retailers are facing. Over the last two months, many of the larger manufacturing hubs in Southeast Asia have had to close due to dangerous, record-breaking heatwaves. India is among the world's largest producers of textiles and apparel, so this is set to have a drastic effect on supply. Sadly, these hubs have closed when it's become a necessity, rather than working together to find a solution. Unions have reported that garment workers have fallen ill, with lower productivity and malfunctioning equipment also reported. It is time for more joined-up thinking between retailers and their supply chain. Rising temperatures need to be met by improved conditions to work in, or the time of day people are working needs to be reconsidered. Upgrades must be made for the workers to maintain the supply chain flow 12 months of the year. #retail #supplychain #sustainablity #environment

6

2 Comments

Fast fashion giant Shein could file as early as this week for a potential IPO on the London Stock Exchange.While there is no guarantee of a listing,the optics indicate its highly likely. Shein could be responsible for staging the London Stock Exchange's second-largest IPO in history, behind the 2011 stock market debut of Glencore International, the commodities trading and mining group. This post an annoucement in April 2024 that Shein’s profits have doubled to $2 Billion in 2023. #fashion #fastfashion #retail #ecommerce #LondonStockExchange

9

Retail-as-a-Service (RaaS) is a fast evolving segment of retail which offers new profit streams or the ability to quickly scale a new business or channel. Businesses like Amazon, Ocado, Next, THG and Shein are already recognising the opportunities here with offerings to serve and scale retailers and brands. In the latest episode of my podcast - episode 316 - I'm exploring this trend, and the opportunities and challenges is presents to all companies across the industry. So whether you're already a RaaS provider, or considering unlocking this opportunity, perhaps looking to engage with a RaaS provider or you could be intentionally not engaging.... either way, the evolution of this new business is influencing the whole retail sector. Listen in on your usual podcast app - look for episode 316 of the Retail Transformation Show. #retail #retailtransformation #futureofretail

8

1 Comment