Last week 3DLOOK attended Fashion Tech Summit, an international event, which brought together tech innovators in fashion and retail.
Our Chief Customer Officer, Katerina Galich, was invited to speak on a panel about the influence of advanced technologies on fashion e-commerce. The event sparked discussions about the role technology and innovation play in the fashion industry.
Here are some key takeaways from the panel:
1) Looking at Millennial behavior is like a preview for all shoppers.
We live in a remarkable time, where technology is driving a new era of customer preferences and shopping habits.
While younger Millennials and Gen Z are coming into their spending years, retailers are competing for the attention of this new audience. These next generation consumers were born with phones in their hands and they expect a level of efficiency and immediacy in everything they do. So, take a closer look at what they’re doing – it is like a preview for all shoppers.
2) 80% of offline sales are there because of online ads.
The retailer can erroneously conclude that ads only increase online sales, while the reality is that, according to research held by the University of Rochester, over 80% of online ad’s effect offline sales. In other words, the more of the customer’s attention you grab online, the more the probability increases that they make a purchase from your store, no matter the channel.
3) Attracting Gen Z is all about surprise.
It is crucial to create unique shopping experiences for these demanding young consumers. Technologies using AR and VR help enhance the customer experience and increase the level of engagement.
4) Personalization: the future of shopping.
Advanced AI and immersive technologies are revolutionizing ways in which retailers personalize marketing and product strategies for their customers. Customers will increasingly come to expect a total personalized experience while shopping online – one where a product assortment is customized to their body shape and size, taste, and even calendar.
5) Choosing the right size online is like a lottery, unless…
….unless you look to technology to transform the online shopping experience. Companies like 3DLOOK are using AI to revolutionize how we find product online which fits our body size and shape. With just two photos taken on any smartphone, our technology makes fit recommendations to your customers. This enhances the experience for the customer and creates greater efficiency while also generating valuable data about size and shape.
Thank you to everybody who joined 3DLOOK at Fashion Tech Summit 2018.
Check out some of the photos from the event below.