Retail

The rise of online shopping has made it easier than ever for shoppers to find their style, but has created a new pain point for fashion brands: returns. Customers often order multiple outfits, and try them on at home before deciding what they want to keep, and what they want to send back to the warehouse. This has significantly increased the rate of returns in fashion, which comes with its own financial and environmental costs.

How can Deep Learning boost own-site sales for electronics brands?

1. There are a number of challenges that electronics brands face when encouraging customers to use own-site channels.
2. The first is the popularity of comparison sites, that typically push customers into a “price-first” mindset.
3. The second is the fact that telecoms providers typically provide a phone as part of their subscription contract.
4. This means that electronics manufacturers are forced to take a loss paying a commission to third-party sales platforms, when they could increase their margins through sites they own and operate.
5. To promote own-site sales, electronics manufacturers must showcase the benefits of a direct purchase, including improved warranties and customer support.
6. Deep Learning powered marketing techniques make it possible to target users most likely to be receptive to this message, maximizing the impact of each campaign.

Highly stylized displays, prestigious high street locations, exclusive experiences, up close and personal sales assistance… the „established norms” of the luxury goods industry simply don’t fit into a post-pandemic world. And yet, after a challenging time in early 2020, many luxury brands are now embracing ecommerce as the first touchpoint for customers in their digital marketing strategies. They are finding ways to effectively communicate brand value in the digital space in the same way as they do in the offline world and are starting to replicate the personalized, curated experiences that buyers expect.

It’s no secret that promotional periods spark a change in consumer behavior in just about any industry, and the Home & Garden sector is certainly no different. This thriving ecommerce sector is attracting some serious competition. With the global home and garden products B2C ecommerce market poised to grow by USD $30,189.84 million accelerating at a CAGR of 10.53% between 2023 and 2027, competition is flourishing, meaning that maintaining consumer loyalty is fast becoming a big challenge.

Hanging on to the industry’s coattails may not be enough, with 66% of consumers now expecting brands to understand their individual needs. Those that choose to strategize and personalize to cater to these needs are most likely to reap the greatest rewards of consumer spending during promotional periods by delivering relevant experiences based on seasonality.

The world of online retail has experienced significant change over the last few years. With these changes came a trending topic concerning recommendations and the effect they have on the consumer journey. So what value do they actually hold when it comes to personalizing a shopper’s online experience and increasing your average order value?

Sports brands were already trendsetters but their relevance has increased over the last two years as lifestyles have changed. People have become health conscious and are actively taking part in fitness and well-being activities. Meanwhile, the global shift away from offices (and from more formal officewear) has turned sports clothes manufacturers into the de facto tastemakers of the entire fashion industry.