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See Now, Buy Now: UK Edition

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Coming of age in an era of instant gratification, Gen Z fashion shoppers in the UK use social media for style inspiration. They expect the looks they see on catwalks and red carpets to be available almost immediately.

Conversely, they do not expect the looks they purchase to last. One in four young shoppers wears an item for less than six months before getting rid of it, while more than half wear it only up to a year.

Shoppers want disposable, on-trend fashion that appears on their doorstep—or at their local retailer—at lightning speed. Learn more at www.accenture.com/seenowbuynow

Publié dans : Commerce de détail
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See Now, Buy Now: UK Edition

  1. 1. Copyright © 2017 Accenture All rights reserved. Accenture, its logo, and High Performance Delivered are trademarks of Accenture. SEE NOW, BUY NOWUK EXECUTIVE SUMMARY
  2. 2. Copyright © 2017 Accenture All rights reserved. Accenture, its logo, and High Performance Delivered are trademarks of Accenture. FAST FASHION, FASTER YOUTH In a world where outfits go viral overnight on social media, 18-24 year old shoppers in the U.K. demand disposable, on-trend fashion that appears on their doorstep — or at their local retailer — at lightning speed.
  3. 3. Copyright © 2017 Accenture All rights reserved. Accenture, its logo, and High Performance Delivered are trademarks of Accenture. RETAILERS MUST REDESIGN THEIR MINDSET Fashion for the masses can no longer be planned 6 to 12 months out. Rather, in a fraction of that time: • Trends must be identified • Designs agreed upon • Production implemented • Lines readied for sale
  4. 4. Copyright © 2017 Accenture All rights reserved. Accenture, its logo, and High Performance Delivered are trademarks of Accenture. IDENTIFYING DESIGN TRENDS: TEST AND SCALE 1. Companies produce a trial of a new line. 2. Consumer response is tested online and/or in store. 3. Following strong buyer analytics, production scales up. Almost half of senior executives use a “test and scale” model to identify popular trends.
  5. 5. Copyright © 2017 Accenture All rights reserved. Accenture, its logo, and High Performance Delivered are trademarks of Accenture. IMPLEMENTING PRODUCTION Successful fulfilment of test-and-scale requires a streamlined organizational structure. Cut production cycles… Spreading the love between nearshoring, flexible fabric finishing and multiple sourcing reduces overall production time. ...but spread selectively. CEOs can benefit from developing strong relationships with a core group of producers.
  6. 6. Copyright © 2017 Accenture All rights reserved. Accenture, its logo, and High Performance Delivered are trademarks of Accenture. NEW PROCESS, NEW PROFITS Fast-moving, short-production-run styles require fashion executives to find new ways to increase margins and decrease surplus stock. • Executives are running out of new lower wage countries to source from in order to achieve savings. • Instead of cutting costs from the supply chain, providing customers more value will grow the profits of tomorrow.
  7. 7. Copyright © 2017 Accenture All rights reserved. Accenture, its logo, and High Performance Delivered are trademarks of Accenture. THE VALUE OF SHOWCASING THE BRAND Online – 52% of Gen Z shoppers in the UK use social media for style inspiration. One fashion retailer introduces new looks directly to their 7.4 million Instagram followers. Almost two thirds of senior executives put customer engagement as the top element for success. In-Store – Pampering, entertainment, and facetime with brand ambassadors sporting a “cool” factor transform brick and mortar outlets from shopping spaces into an experience.
  8. 8. Copyright © 2017 Accenture All rights reserved. Accenture, its logo, and High Performance Delivered are trademarks of Accenture. THE FUTURE IS MOBILE 40% of U.K. apparel purchased by consumers under 30 is bought online. Fashion will only get faster. Will you?
  9. 9. Learn more about how to accelerate fast fashion retail strategies in the UK with our full report: @AccentureStrat Follow us on LinkedIn Copyright © 2017 Accenture All rights reserved. Accenture, its logo, and High Performance Delivered are trademarks of Accenture. SEE NOW, BUY NOW: EXECUTIVE SUMMARY JOIN THE CONVERSATION:

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