Some of the best articles from the world of retail and its supporting industries.
Monthly Retail Round-Up - November 2019
With lots of retail news to keep track of and as we head into peak, Dressipi brings you the best stories this November.
1) Would you Swap Physical Clothes for Digital?
A new type of pop-up shop opened its doors this November with innovation at its core. Reported in Vogue Business, the world’s first digital clothing store allowed “visitors to try on - but not purchase - digital garments in exchange for an unwanted item of clothing.”
Humans ‘digital tailors’ lead guests “into pods equipped with a camera, projector and a “magic mirror” to sample looks. While no physical versions are available for purchase, shoppers can take home the digital images and one photo print-out of them in the garment of their choice” (Vogue Business).
Karinna Nobbs, a University Lecturer & Futurist did not design Hot Second for a commercial endeavor but to “test how consumers react to digital clothes”. It is argued in Vogue Business that digital clothing is a powerful and more sustainable alternative to fast fashion as it offers newness and diversity for social media feeds without the need to create physical garments. Christopher Raeburn, Designer, Raeburn agrees saying, “For us, it’s not about commercial opportunities as such. Our interest lies more with disrupting and challenging the industry as we know it, and digital clothing certainly has promise for sustainability reasons. I’d like to think that digital fashion will help address production issues, but also aid in marketing a physical collection more effectively and responsibly.”
2) Monki’s Social Shopping Initiative
H&M-owned brand Monki has just launched live-stream shopping as another way to connect with their customers and in an attempt to engage the Chinese market. Research by Deloitte, reported in Vogue Business outlined, “Live stream shopping has been a fast-growing industry in China, with local live streams reaching 456 million viewers and generating $4.4 billion in sales in 2018, an increase of 37% over the previous year.”
Eleanore Nygards, Editor-In-Chief, Monki and Nina Gomes, Buyer, Monki filmed and broadcasted the high street fashion label’s first-ever live stream shopping experience across 19 markets. Viewers were able to interact with them, as well as other customers as they shop, and purchase the products seen in the stream.
Live streaming is one of the latest ecommerce trends and provides a ‘trust’ that has lacked traditionally as customers are able to view the product in a way that is not deceiving. Eleanore Nygards, Editor-In-Chief, Monki said (reported in Vogue Business), “This is all new, and we’re still learning, daring to try something new and being more transparent is something we want to offer our customers. Listening to our audience is a big part of it.”
3) Black Friday Approaching
Black Friday is a rapidly growing event. The tradition that originated from America, used to be a one-day sales bonanza but now lasts for at least a week.
Research by Retail Economics and Klarna, reported in Drapers, said that 19% of people would be encouraged to spend more due to the event falling after payday. This could potentially make it the biggest Black Friday yet. Another Drapers article confirmed this, reporting “UK shoppers are expected to spend a record £8.57bn from Black Friday to Cyber Monday, 29 November – 2 December, equating to an average of £2.48m each minute of the four-day weekend.”
However, reported in Drapers, “UK retailers hoping to capitalise on in-store sales this Black Friday may be disappointed, as three-quarters of consumers plan to avoid the high street come 29 November”. Research by VoucherCodes.co.uk outlined that “although offline sales are still set to exceed online purchases by £1.03bn – £4.8bn compared with £3.77bn – offline purchases in the UK are expected to fall by 0.2% year on year” (Drapers).
With many shops starting their deals last Friday, the event is nearly in full swing. You can check out the latest deals here.
We hope you enjoyed the round-up. Please feel free to get in touch with any stories you feel would be of interest.
Banner Photo by Benedikt Geyer on Unsplash