See,Now-,Buy,Now,movement,Fash business, insurance See Now- Buy Now movement in Fashion
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Retail bankruptcy that has taken a center stage in the present retail ecosystem has also compelled designers and fashion houses to look for different strategies to cater to the quick and varied demands of the consumers. A new report from Fashionbi titled, "See-Now, Buy-Now: How Is The Industry Adapting To Fashion's Newest Movement?" talks about ways that designers and fashion houses are coming up with to attract consumers who are now termed as fickle minded consumers since they change their minds regularly while purchasing and usually don't want to wait for five months from seeing a creation on the runway to buying it. The fashion industry indeed accepts that customers are not willing to wait for the collection to come in stores because the proliferation of e-commerce sites have turned them into impulsive buyers. Hence, the fashion houses are mulling on switching over to the 'See-Now, Buy-Now' concept. The report lays out an alternative timeline, which would include a small trunk show specifically for the buyers earlier in the process, instead of a traditional approach that states-apparel is designed and samples are made for runway shows and buyer appointments, but the actual manufacturing comes afterwards, allowing designers to get feedback from retailers and media before they produce on a larger scale. Then, once the fashion show happens, the collection are made available for purchasing and print placements are made ready to run at the same time. A number of designers vouching for an early purchase of the collection, shunning the traditional approach, may do more good than harm the designers. Firstly, shortening the product cycle will encourage customers to buy impulsively and fall in love with an item seen during a live stream or on social media. Secondly, shortening the time between runway and store availability may prevent fast fashion retailers from knocking off designs. The report lays down four strategies that these fashion houses may adopt or have adopted in order to make products available for their customers at right time. "Seasonal Buy Now"actually aligns product availability with when consumers actually need it that means-promoting coats made out of fur in the fall rather than July. Tamara Mellon is the brand that has already picked up this strategy. Similarly, the next is "Consumer-Driven Buy Now" that follows the idea that runway shows no longer remains trade events, instead should be incorporated with e-commerce. The third strategy, which is slowly gaining pace among various fashion houses is "Disintermediated Buy Now," approach is the latest moda operaindi of the retailers cum fashion houses in which consumers may pre-order right at the time of the runway show. Thom Browne is already following this mode of business-taking orders from interested consumers right after the runway shows and then manufacturing made-to-order garments for them(Consumers) that arrive about 12 weeks later. Last but not the least, is the "Digital Buy Now"- using social commerce platforms' like Twitter buying buttons to drive sales. Sea of technological advancements including e-commerce and social media, in the recent decades, have shaken the foundation of traditional businesses while creating a fertile ground for "See Now Buy Now" movement. Burberry has taken all four approaches,scheduling its show to the appropriate season, opening up collections for purchase directly right after the show and leveraging on the Twitter's buy buttons feature for runway-inspired purchases.
See,Now-,Buy,Now,movement,Fash