We’ve been reading Prologic’s report on technology in fashion, available here, and it contains some very useful insights. Based on responses from companies representing 18% of the UK clothing, footwear and accessories market, it shows some optimism about the coming year. Retailers are switching from cost reduction projects to building their web and home shopping capabilities. A significant number expect to be keeping headcount around where it is today (after cuts last year) and sales, though tough, will improve somewhat.
Of the 80% who had a transactional website, the average annual spend on the website as a percentage of its sales was around 6% (we often hear this number) but a significant number are this year looking to spend more, as they invest in their fastest growing and most profitable source of sales. Interestingly, it looks like multi-channel will be a big area of focus this year: while only 32% can show shoppers their in-store stock through the website, 50% are planning to implement this capability, and 45% want multi-channel store or gift cards.
While we hear this sort of information regularly, it’s great to see it from a survey based on such a large sample, with such authority. And it reinforces our view that it’s going to be a busy year.
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