The Key to Staying Relevant in the Fashion Retail Space
In a hyper competitive industry such as fashion retail, implementing multiple departmental solutions piecemeal is not an effective strategy. Often retailers do not consider the consequences of how these disparate systems will interact with each other. The result is a mishmash of processes, which require significant resources and time to maintain.
The inefficiencies and the demands these disparate systems place on the organization leaves retailers stuck in the past, inhibiting growth and innovation. As a fashion retailer in today’s fast-paced shopping environment, you cannot afford this!
Keeping up with modern consumers is enough task already. Every day, customers are demanding improved service and greater speed of delivery. Failing to fulfill a promise of delivering an order can quickly diminish brand loyalty. Legacy systems just can’t keep up with the speed or intricacy of the business.
A survey conducted by Retail Systems Research reports that 78% of retailers plan to have a unified commerce platform within five years. The time is now! Many retailers are already turning to a single system that can handle the complexities of customer, financial and inventory data across business processes from production to payment.
An integrated ERP system can be the difference between whether a retailer fails or thrives in today’s marketplace. Retailers need speed, visibility, adaptability and scalability to stay relevant. Growth and expansion are not achieved by relying on outdated or fragmented systems. A modern IT infrastructure is required. For the fashion retail industry, the cloud offers some of the best options due to its flexibility and effortless software upgrades.
With a modern integrated technology system, fashion retailers can maximize opportunities in these top three areas, expanding digital direct-to-consumer capabilities, enhancing the in-store experience with digital touchpoints, and to broaden assortments with endless aisle.
The key for retailers to stay relevant in today’s marketplace is to modernize their IT infrastructure. Speak to Net at Work today about how we can help you do that.