Fashion Marketers 101: Where Data Fits In
The increasing speed in fashion impacts more than just trends, it affects how people in the industry work.
Merchandisers are using data to study past numbers, while designers turn to data-backed trends to generate new collections. Naturally, the fashion marketers have to catch up too.
Source: Love To Know
What Does a Fashion Marketer Do?
Put simply, a fashion marketer focuses on the branding and advertising of a certain collection or product.
Many often confuse between a fashion marketer and a fashion merchandiser, since both have the same end-goal: to increase sales.
While a fashion merchandiser generally works closely with buyers and designers to aid assortment planning, marketers focus on reaching and attracting the right target audience.
So how does a day-to-day look like – and where does data assist?
Where Data Fills the Gap
Market and Demographic Research
Before executing a marketing strategy, a fashion marketer needs to identify the target audience first. Speaking to a vast crowd may be effective for brand recognition but speaking directly to the intended target audience reaps the best benefit.
For a message to resonate well among the audience, marketers carry out thorough research to identify the personas.
Data-driven insights can provide highly specific demographics behind a target audience. By understanding who has the purchasing power behind your products, a more suited marketing pitch can be directed to drive sales.
Monitoring Market Specific Trends
Once a specific demographic for a brand or retailer is determined, the next step is to break it down further by region.
Promoting the same product with the same messaging to different locations may not be the best solution. For example, promoting Fall/Winter clothing in Southeast Asia during the Raya season may not be fitting.
Regional insights give marketers a clear view of the product breakdown by locations. There are many factors that could sway the demands of consumers, such as climate, festivities, politics and even local pop culture influence. Therefore, it is up to a marketer to identify spikes in regional demands and plan accordingly to maximise sales.
With data, this is easily achievable.
From left to right: Flounced cotton blouse, Blouse with lace trim, V-neck blouse, Linen top
The example above highlights the difference between bestsellers from H&M in two similar regions, Singapore and Malaysia. A clear style difference can be observed from the bestsellers. Frilly blouses topped the bestsellers from Singapore whereas plain t-shirts and blouses did the best in the Malaysian market.
A fashion marketer will then know which product to highlight when doing visual merchandising or preparing marketing materials.
In the second example, we compared the sellout rates between H&M menswear in the United Kingdom and the United States. While both saw decent sell-out, the full-price filter was the key difference.
The United States market had a stronger demand for menswear in H&M since the market saw higher sell-out at full price.
This signified a greater appetite for H&M’s menswear from the United States.
With this information, marketers are able to identify specific regional retail differences and formulate a strategy to overcome the sell-out percentage gap.
Devising Promotions for Maximised Sales
Besides assortment planning, fashion marketers work with merchandisers to look at older stocks. Stale designs that fail to entice consumers or even poor pricing may lead to slow-moving assortments. In situations like this, marketers need to analyse the data behind the assortment to understand what and why certain products do not sell well.
Upon analysing, marketers can work with merchandisers to formulate campaigns and strategies to successfully clear out slow-movers to avoid an excess inventory. Identifying the ultimate price point to find the right balance that benefits both the retailer and consumer are key.
All in all, a good marketing plan just boils down to understanding and identifying consumer demands.
In an industry as volatile as fashion, fashion marketers have no room for mistakes that could potentially cause lacklustre sales and low profit.
This is how data can help.
Data, derived from pure numbers and facts, is the secret weapon behind a seamless marketing strategy. A study by McKinsey & Company showed that companies that adopted a more advanced marketing tactic resulted in a 30% revenue growth compared to their peers.
Since marketing is integrated into other aspects of a brand or retailers, failure to have a data-driven marketing strategy may render other retail efforts obsolete. A data-driven strategy only oils the overall engine of the business.
You might also like
What Our Customers Are Saying About Us
Omnilytics strives to continuously bolster our customers’ decision-making with actionable insights delivered in the most efficient manner. The response we’ve received from brands and retailers have been instrumental to continuously develop and innovate our technology based on – what our customers love and want more of. With this in mind, we invite our customers to […]
5 Tips for Tackling the Holiday Sales Season
The significance of the holiday sales season in the midst of a pandemic is not lost on retailers. With cases rising each day, a new round of lockdowns has been imposed across pockets of Europe, Asia and Australia. Despite worries of reduced spending, the recent success of Single’s Day and Amazon’s Prime Day proved consumer […]
Why the Future of Fashion is Sustainability
Sustainability has always been on the top of fashion’s laundry list. One of the most polluting industries in the world, fashion emits more waste than the flight and shipping industries combined. Beyond its environmental effects, the industry has also been accused of multiple ethical malpractices in its workforce, often sourcing from third-world countries where thousands […]
11.11 Sale 2020 (SEA): How Top E-tailers Maximised Sales
Singles’ Day 2020 was a resounding success despite Covid-19 and a bleak economic outlook in Southeast Asia. This year’s Singles’ Day sale or regionally better known as 11.11, surpassed last year’s numbers in record time as consumers latched onto discounts offered by marketplaces such as Lazada, Shopee and more. What is Singles’ Day? Singles’ Day […]
Year-End Sales Tactics to Push Sell-Through
As we edge closer to December, fashion brands and retailers are anticipating another major retail event – the year-end sales. Aside from Black Friday and Single’s Day, the year-end sales are a long-standing promotional tactic used by retailers to clear remaining inventory of the season or a final push to hit sales targets for the […]
Introducing the Unified Fashion Journey
Building and marketing a fashion assortment involves piecing together different steps of the business, each with its own challenges and limitations. For every business, the goal every season is to maximise profit and anything that deters that goal should be kept to a minimum. With this goal in mind, Omnilytics has developed a methodology that […]