3 Excellent Examples of Omnichannel Retailing Done Right
Clearly, fashion retail is reaching a tipping point. The influence of tech-savvy millennials as customers is growing and completely changing the way of how customers expect to buy and to be served. We, at bodi.me, are passionate about technology innovations that transform the landscape of traditional retailers. Therefore, we have complied what we think are the best companies that disrupted the market this year and realised that online and offline sales are not in conflict, but have to work together in order to provide a seamless customer experience. Let’s see which fashion brands have successfully embraced omnichannel retailing.
Valentino, YNAP Partner on New Omnichannel Model NEXT ERA
Yoox Net-A-Porter Group and luxury house Valentino have teamed up to present a new omnichannel business model, which will launch in early 2018. The new business model will allow customers unprecedented online access to inventory from all Valentino’s boutiques and logistics centres as well as the YNAP global network of eight fulfilment centres from New York to Dubai and Milan to Shanghai. The model, also called NEXT ERA, is a result of YNAP’s partnership with IMB, where an Order Management System enables Valentino to have a single view of its inventory and a comprehensive profile of its customer base. Some of the benefits for customers include full product information, instore mobile features and faster delivery.
Matchesfashion has announced new London townhouse retail concept. The idea is to create a space, which marries the physical and digital shopping experience in a versatile format: “For me, [retail is] about experience and connection, not about racks and racks of clothes. Retail stores shouldn’t be about that anymore. It should be about curation.” said company’s executive chairman Tom Chapman in an interview for BoF. The store will use a number of digital features to create a seamless omnichannel experience, such as the Matchesfashion.com mobile POS app, which logs every interaction with individual customers enabling the brand to bring personalisation into the physical world.
As high-end shoppers become increasingly mobile and connected, luxury retailers are testing new technologies that promise a more seamless experience between the physical and online worlds. Farfetch, for instance, is bringing technology to the shop floor to blend internet and in-store experiences. In April the online retailer unveiled the concept of “The Store of the Future” at FarfetchOS conference at London’s new Design Museum. A full commercial roll out, however, is planned for 2018 with the business model yet to be tightly defined. And while Farfetch has developed the core operating system on which “The Store of the Future” runs, the initiative is conceived as a platform, meaning the majority of innovation will ultimately come from third-parties, who build new services on top of it: “It’s a bit like an operating system for a shop — you build the apps.” said Farfetch founder and CEO José Neves in an interview for BoF.