Technology is further accelerating the growth of retail brands, making the customer journey seamless, both offline and online, Dr. Vivek RastogiTechnical director, FabindiaAnd Akhil JainED, Jain Amar (Madam) by speaking to Fashion and Apparel Innovation Summit 2023.
During the trilogue on the theme “Revolutionizing fashion business: Navigating disruptions and transformations in the digital space,” they said retailers are using several technology tools such as artificial intelligence, machine learning and analytics to make consumers’ digital journey easy and hassle-free.
Digitalization has further made processes transparent and with the available data, brands can solve customer problems related to their brands.
“Digital transformation has become important with the penetration of smartphones in the remotest cities of India. And the buzzword now is customer experience and discovery,” Jain said.
“As a brand, it has become necessary to leverage these technologies to bring agility and deliver goods in the shortest possible time,” he added.
After the intervention of technology, the AIDA framework transformed into a 5A framework: awareness, appeal, demand, action and advocacy. There is a need for retailers to leverage technology at every stage.
“There are two ways for brands to leverage technology: first, you become the pioneer and gain first-mover advantage, and second, let it mature and then look at the business case, and what customer problem you can solve using that,” Rastogi said.
“However, on the path to technology adoption, retailers face a few challenges: changing customer needs, and despite the fact that the entire journey from offline to omnichannel has evolved over time. time, brand stakeholders still work in silos,” he added.
New age technologies like Metaverse are further expected to disrupt the digital brand journey and further help retailers deliver personalized solutions to consumers.
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