Virtual Fitting Is Already Creating a Competitive Advantage
The shoe-shopping experience using standard shoe scale systems has not changed in 150 years! In the 20th century, Retail industry went through modernization of supply chain but the consumer facing side of retail did not evolve in shopping efficiency or experience. In the last 10 years, internet, mobile and artificial intelligence technologies are making a huge shift in how consumers shop. One of the key technologies that is enabling apparel and footwear retail industry to join "shop from anywhere" revolution is Virtual Fitting Services offered by select few players in the Industry.
Today’s buyers are tech-savvy, quality-driven, and demand high levels of convenience and customer satisfaction. Despite this enormous growth, nearly 30% of online footwear sales are returned—with fit and comfort being the primary reason. Findmeashoe solves this problem with its unique, mobile app-driven technology that meets the needs of today’s buyers. In this space, We share with you some of the interesting industry perspectives and our case studies related to fit.
The 2015 holiday season broke all records with close to $90B in holiday shopping taking place online. Thanks to previous champions like Amazon.com and new entrants like Jet.com there were more places than ever before to buy gifts online ....More
Footwear e-commerce is making strides. According to Euromonitor International, global online footwear and apparel sales increased by 22% in 2015, and e-commerce accounted for 12% of total global footwear sales. By comparison, the total footwear market grew by 6% last year ....More
Only 22% of men and 13% of women never browse fashion sites before a visit to store. Looking for specific items and price checking are the key reasons for looking at websites, whether purchases are online or offline. 25% already use the sites to check what stock will be in stores, showing how sites can also drive footfall ....More
The latest study by New York-based 3-D body modeling company Body Labs has found that $62.4 billion worth of apparel and footwear is returned every year due to incorrect fit. That works out to about 57 percent of footwear and 64 percent of apparel purchases, according to the study ....More
Similar to most retailing industries, the sales of shoes online have outpaced traditional brick-and-mortar shoe store sales, with online shoe sales expected to increase at an annualized rate of 15.2% to $12.0 billion over the five years to 2016 ....More
E-commerce may be growing at a rapid rate, but so too are the inevitable returns that accompany them.This holiday season, e-commerce returns are expected to reach $19.4 billion, or more than 30 percent of the $64.7 billion in projected e-sales, according to a recent study by Shorr Packaging ....More
In a recent MarketingSherpa Chart of the Week, we shared overall ecommerce conversion rates. MarketingSherpa readers asked for more. In this chart, we will explore ecommerce conversion rates broken down by product type based on responses from 2,885 marketers. Read on to see how your conversion rate compares ....More