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09/02/15

How to Win at mCommerce in Time for NY Fashion Week

Posted by Mollie Spilman

September in New York City means music festivals, Labor Day getaways, the beginning of a cooler season and New York Fashion Week--one of the most recognized fashion events in the world. With Fashion Week kicking off on September 10th, retailers are on high alert to maximize sales from the catwalk.

That’s why we’ve decided to release our Fashion Flash Report. When it comes to the latest trends in fashion e-commerce, look no further than this report. It’s full of up-to-the-minute insights from our research team and includes vital information for fashion retailers about what’s in and what’s out for generating sales.

Wondering what everyone’s favorite accessory is this year? It’s no surprise, that it’s the mobile device. The growth of mobile fashion sales is fast and steady at more than 18 percent year-over-year globally. In the US market, the figure is even greater--up nearly 40 percent. And in Brazil, it’s soaring at 78 percent annually.

Here’s what else is a la mode according to Criteo research:

  • The fashion industry is moving to mobile faster than any other retail category, with 33 percent of fashion purchases now coming from mobile devices.
  • 43 percent of fashion shoppers use multiple devices on the path to purchase (against 40 percent on average for retail). Many are device and platform agnostic, shopping across desktop, tablet and smartphone devices, whether in-app or via a retailer’s mobile website.
  • 26 percent of fashion shoppers browse multiple fashion sites per month.

With mobile commerce on the rise, here are three tips for fashion retailers to win over today’s device-hopping shopper:

1. Design a fabulous mobile experience. Create a pleasant and seamless experience on every screen, and you will capture more sales from fashion shoppers as they move from device to device. Here is how:

  • Prioritize smartphones over tablets, and iOS over other platforms, as they make up the majority of mobile fashion sales in most markets
  • Speed up your mobile efforts, even if mobile penetration in the markets you operate in seems low today
  • Track users across all devices

2. Show love to your existing customers. Fickle as they are, they account for over half of the total sales, so you must work to outshine your competition to get them back to your site frequently. How to do that?

  • Offer a curated shopping experience in order to capture additional sales from heavy buyers
  • Reactivate shoppers through all possible means (even shoppers who’ve made a purchase recently) in order to speed up repurchases and reduce the chances that your most profitable customers go to the competition

3. Make your app runway-worthy. The investment will pay off, potentially driving a huge share of your mobile sales. Among the key steps to making sure your apps delivers as much revenue as possible are:

  • Reducing a purchase to as few clicks as possible
  • Making it easy for users to save items or add them to their wish list
  • Connecting your app to your brand’s social media accounts and make sharing easy
  • Ensuring your app has the ability to “deep-link” to a specific product page, so your ads points them where their chance of converting is highest
  • Reactivating dormant users through CRM and advertising messages
  • Tying in ad creative--ensure you use your product feed to create dynamic creatives that are relevant and personalized

2014 strategies won’t fit 2016 consumer habits, so don’t make the mistake!

Get the Criteo Fashion Flash Report here to learn more.

Categories: Product & Technology Innovation Performance Marketing