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BigCommerce releases ecommerce insights report for fashion brands

Date posted on DIARY directory: Wednesday 31st July 2024

BigCommerce releases ecommerce insights report for fashion brands

BigCommerce has released an ecommerce insights report for fashion brands. Here are the highlights of the report:

  • Data-driven, personalised experiences are table-stakes

The new opportunities lie in responding to customer engagement by making them feel special. For example, polls can involve customers in the next steps, lines, colours and contours of a new range, or brand fans can be invited to exclusive online previews of a new collection as well as the opportunity to go in-store before anyone else to snap up the new look.

    • Focus on delivering sensory-engaging experiences both in-store and online to meet modern fashion consumers' expectations for a seamless, omnichannel shopping journey.
    • Leverage real-time data to personalise interactions and adapt to customers' evolving needs to build brand loyalty beyond mere transactional offers and codes.
  • Shared values such as sustainability build
customer loyalty

Retailers can build customer loyalty by aligning their values, such as sustainability, with those of their customers. Younger shoppers, in particular, prioritise eco-friendly practicbigcommerce.co.ukes, with many considering sustainability crucial in their purchasing decisions. 

    • 57% of Gen Z and Millennials say sustainability is important when it comes to shopping for clothes, accessories or
shoes
    • 45% of Gen Z and Millennial consumers have abandoned or decided against a fashion purchase because the brand or retailer did not reflect their values
    • 68% of Gen Z and Millennials have purchased pre-loved or second-hand fashion items.
    • 36% of Gen Z and Millennials would consider renting clothes, accessories or shoes
  • Omnichannel, the many paths to customers' carts

Omnichannel shopping is crucial for fashion retailers, as Gen Z and Millennials split their purchases almost evenly between physical stores and online platforms. They expect seamless integration, allowing them to start a purchase on one device and finish on another, with flexible delivery and pick-up options.

    • 53% of Gen Z and Millennials chose physical stores as their preferred shopping channel.
    • 67% of Gen Z browse for fashion on a mobile website on their phone.
    • 72% of Millennials browse for fashion on a mobile website on their phone.
  • Follow the thread of social shopping

For ecommerce strategies to succeed, fashion retailers must recognise that omnichannel goes beyond bridging online and offline stores, incorporating social media as a powerful sales tool. Gen Z and Millennials are driving a surge in social shopping, which is set to triple in value to $1.2 trillion by 2025.

    • Social shopping is led by Millennials (33% of the market) with Gen Z (29%) only just ahead of Gen X (28%).
    • As with desktop and mobile commerce, fashion is the leading category of social selling, accounting for nearly a fifth of the entire market (18%).
    • The top four social media platforms for product discovery for Gen Z consumers are Instagram (52%), YouTube
 (51%), TikTok (43%) and Facebook (34%).
    • For Millennials they are YouTube (46%), Facebook (45%), Instagram (44%), and TikTok (32%).
  •  
  • Ecommerce technologies in fashion

Fashion retailers face immense pressure to adapt to changing consumer behaviour, hindered by legacy ecommerce systems that slow down updates and personalisation. Many are adopting a composable approach with MACH architecture, which separates front-end and back-end operations, enabling faster, more flexible updates. This method allows retailers to personalise customer experiences and integrate new features efficiently.

  • The future of ecommerce

AI technology is poised to revolutionise retail, with 70% of merchants viewing AI retail management solutions as critical for future success. BigCommerce is developing AI tools with Google to enhance both front-end and back-office operations, aiming to improve customer engagement and operational efficiency. 

Upcoming tools will personalise storefronts and offer ecommerce insights, enabling retailers to detect and act on consumer trends swiftly. Personalised search and upselling will be the highest value use cases for AI in retail, with social media sentiment analysis and supply chain insights also being priorities. 

For the full report, visit bigcommerce.co.uk.