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Fashion retailer Forever New has partnered with retail technology solutions firm Ace Turtle, India’s leading omnichannel platform company, to deliver omnichannel experiences to its customers and strengthen its retail presence in India. Ace Turtle will enable Forever New with a Unified Commerce Platform that supports various omnichannel use cases and drive seamless customer experience at scale across digital channels.
Speaking on the partnership, Dhruv Bogra Country Manager Spokesperson, Forever New said “At Forever New, our endeavor is to continuously improve the experience of our customers. We have been focused on ensuring a seamless experience for the consumer from product selection to purchase and at the same time making it easier for them to shop. In order to consistently deliver the omnichannel experiences that customers expect, we needed to create a strong foundation of technology building blocks. In this endeavor, we are happy to partner with ace turtle as their highly scalable solution will play a critical role in powering our digital business”.
Powered by machine learning, Ace Turtle’s Unified Commerce Platform, Rubicon 3.0 supports various omnichannel use cases such as inventory lying anywhere can be sold across channels, fulfilling orders from any stock points (retail stores, warehouses and distributors) and a single view of product, inventory, and customer through a single platform.
Speaking on the partnership, Nitin Chhabra, CEO, Ace Turtle said “The lines between online and offline have blurred and this has got accelerated due to covid hence stores now need to be omnichannel ready to support this. As customers are more than likely to shop at the channel of their own convenience, brands need to build tech capabilities to cater to the ever-changing dynamics of Indian consumerism. We are confident that our omnichannel platform Rubicon will enable Forever New to improve business efficiency and accelerate business growth across channels”.
One of the fastest-growing Australian fashion brands, Forever New emerged in late 2006 as a start-up retailer and now trades in over 300 stores across over 14 countries, including Australia, New Zealand, United Kingdom, Canada, Singapore, South Africa, China, India, Turkey, European Union, Philippines, Indonesia, among others.
Fashion reflects on the sensibilities of the wearer. Hence, the evolution in fashion came owing to the evolution of tastes. Present day consumer is further well-versed with the industry, updating themselves on a daily basis. Hence, understanding of fashion, product and quality has changed extremely which has a lead to increase in the number of expectations from the brand.
Consumers can be defined as ‘rational decision makers who are only concerned with self-interest’. Contemporary researches done on consumer behaviour consider varied range of factors influencing consumers and prove a broad range of consumption activities beyond purchasing. These activities include the need for recognition, information search, evaluation of alternatives, building purchase intention, act of purchasing, consumption and finally disposal. The definition of consumer behaviour is the study of process involved when individuals or group select, purchase, use or dispose of product, services, ideas, or experiences to satisfy needs and desire. Kardes, Cline and Cronley added to this definition by stating that consumer behaviour also includes the consumer’s expressive, psychological and social responses that lead, establish or follow these responses
The Interim Budget 2019 is a great forward looking budget that allows a higher nontaxable segment. The thought is simple, when a larger segment of people are able to save on income tax, spending will increase, which would lead to an incremental rise in indirect taxes. The potential earning from such expenditures would be much larger in comparison to the notional income from a single source that is income tax. While presenting the Budget 2019-20 in the Lok Sabha, Finance Minister, Piyush Goyal said that the Indian economy will be worth $5 trillion in the next 5 years and $10 trillion in the next 8 years thereafter. At the same time, McKinsey’s latest report suggests that India’s apparel market would be worth $ 59.3 billion by 2022, making it the sixth largest in the world. Given the greater appreciation for high-end luxury products, global trends awareness, rising aspirations and better purchasing power across the middle class and upper middle class; luxury brands, especially fashion brands, have the most advantage in the current scenario.
Style is supreme in the world of fashion. Ethical companies must recognize this and focus on innovation to make sustainability on trend. These aspects will be inspiring, commercially viable, and bang on-trend. There is the potential to lead a revolution in the way the fashion industry is run for the brands who support sustainable and eco-friendly processes. Doing this, we also need to go one step further for sustainable fashion to enter the mainstream and that is to drop the idea altogether of being worthy and instead concentrate on innovation because eco conscious shoppers might be driven by more ethical considerations when making purchases.14. SAMEER PATEL, FOUNDER & CHAIRMAN, DEAL JEANS
Innovation takes place at the intersection of fashion and technology, representing a powerful way to connect consumers to brands while providing distinct shopping and wearing experiences. Design is continuously gaining importance in the development of the fashion products, coping up with this element is where innovation plays a crucial role.
Mahtani says, “We provide day-care and medical facilities and we do not think that we are doing anything extra for the employees. These are part and parcel of the facilities in any part of the world. The kind of lighting and chairs that we provide, safety facilities –electrical or within the building – we have brought in a certain standard of comfort for our employees and we will continue improving on this. Our first priority is to provide a safe place to our workers to work in.”
Over the years the customer has really changed. Before, it used to be the channel or the brands who were completely in control and dictating fashion, now the customer is in charge because technology has really given the customer access to so much information. The consumer expectations with customer service on product and price parity is higher than it has ever been.
The Walmart KIDBOX stylebox complements Walmart.com’s expanding kids’ fashion assortment, which features more than 100 new brands that have been added over the last year, including Betsey Johnson, Kapital K, Levi’s, Limited Too and The Children’s Place. Popular private brands, Wonder Nation and Athletic Works, continue to offer on-trend, high-quality fashion at low prices, and Walmart has extended inclusive sizing across its kids’ private brands online and in its stores. The retailer has also launched new shopping destinations for dance essentials and gymnastics, and licensed children’s clothing, making it easier for customers to shop for fashion featuring top movie, TV and gaming characters.
Unlike the Chinese market, Indian consumers are extremely price conscious and still value worthiness of a product based on its brand value in the associated social context. The traditionally rich still purchase high-end goods from international markets. However, that accounts for less than 1 percent of the population. The rest of the 99 percent still includes the middle class and the upper middle class. It is this segment that will drive growth for the fashion industry in India in 2019.
One can avail Minizmo’s services by way of personal appointments and from a personal made to measure collection. To bring this together, Minizmo has also set up “home visits”, which will help their clients put together the right wardrobe for any occasion. The network is staffed by experts who measure each customer for the perfect fit and stylists who are trained in the intricacies of fabric and guide each customer through design options.
The biggest change in the last decade has been the sheer amount of raw data available to a fashion business these days. We have a clear plan for harnessing this data and utilising it for improvements across our businesses in assortment planning, PLM, markdown management and inventory control. This can all be unified and used across all sales channels to ensure a higher return on capital.
Growth in apparel industry in India is increasing manifold with the change in lifestyle, earnings and urbanisation of the customers. The Indian consumers are adopting fashionable items quickly and conveniently with the rise in competition. The emergence of branded apparel outlets, shopping malls are also increasing rapidly all over India. The change in lifestyle of the Indian consumer, increasing working class, higher disposable income, dual career families, and many other social and economic changes offer a wide array of opportunities, and contribute in accelerating the pace of growth of all.
Innovation for us is the essence of change, where we bridge the gap between the consumers and the industry, with best ideas possible. We have always strived to come up with creations that would add a shade of innovation to our patron’s lives. It is essential to marry the idea of innovation with age old traditions, in order to create a bracing impact. Starting from the knit to the shade, we try to emulate the pulse of the current times.