Omnilytics Fashion Academy (OFA): How to Boost Sales with Fashion Analytics
Every minute, new fashion brands are emerging in the retail landscape. While more players in the field mean more choices for consumers, it also means more competition in the industry. In other words, the supply is far exceeding the demand. What’s more, today’s consumers are spoiled for choice making brand loyalty a scarcity.
So how exactly do you ensure you’re making the right business decisions – and manage your business operations as a whole?
Staying Ahead of the Game with the Omnilytics Fashion Academy
This is where the Omnilytics Fashion Academy (OFA) comes in.
The online course explains the fundamentals of running a fashion business and how data can be integrated into various aspects of the business journey from planning, designing, buying, producing, launch and marketing to promotion and clearance.
The OFA offers 11 modules with over 50 targeted chapters and is written by industry experts with a combined experience of over 30 years, honed from real-life trial and errors, learnings and successes from global apparel brands such as Topshop and Levi Strauss as well as homegrown brands across Asia like Twenty3.
The CEO of Omnilytics, Kendrick Wong addressing the crowd.
The OFA was officially launched on the 29th of April at Common Ground Jaya One, supported by Asia’s leading brands Zalora Group, FashionValet and Marshmallowscarf. The panel and seminar event “How to Boost Sales with Fashion Analytics” featured esteemed speakers:
- Giulio Xiloyannis, CCO of Zalora Group
- Nadia Norzuhdy, General Manager at FashionValet
- Puteri Razali, Founder of Marshmallowscarf
- Barry Ooi, former CEO of Twenty3 and Head of Fashion Analytics at Omnilytics
- Amelia Teh, Head of Business Intelligence at Omnilytics
- Sylvia Yin, COO of Omnilytics
The full-day event was attended by over 180 individuals, brands and retailers, including industry giants Chanel and Bata shoe company, but also notable homegrown names such as Bon Zainal, Pestle & Mortar and Oh Sebenar.
Designer, Bon Zainal were among the attendees of the OFA launch.
Establishing a Strong Business Foundation with Data
Speaking at the launch was Giulio Xiloyannis, the chief commercial officer of Zalora Group who shared how data has been instrumental in the success of the retailer, especially in Southeast Asia.
During his session, he shared the various methods of how the Zalora Group uses data to track stock, plan for an assortment and observe trend movements. He also further explained how to optimise the data captured from the website – and how to utilise it in marketing and other promotional efforts.
Giulio Xiloyannis, CCO of the Zalora Group conducting his session.
As stressed by Xiloyannis himself, “Zalora is a data first, before fashion company”.
Building the Best Assortment and Merchandise Strategy
Mediated by Sylvia Yin, the COO and co-founder of Omnilytics, the panel focused on merchandising and assortment building. Industry leaders Puteri Maizura Razali, founder of Marshmallowscarf, Nadia Norzuhdy, general manager at FashionValet, as well as Barry Ooi, head of fashion analytics and Amelia Teh, head of business intelligence at Omnilytics, shared insights on how to conduct comparison shopping, merchandising for festive seasons and best merchandising practices in the e-commerce landscape.
Panel on assortment and merchandising strategy.
As shared by Ooi, “It’s a common scene where fashion businesses are stuck with slow-moving inventory stemming from a lack of understanding of what their customers are looking for.”
Among the crucial advice given by the panel was having a strong grasp of market demands and customer preferences, coupled with the knowledge of their internal data to strategise a winning assortment.
From left: Amelia Teh, Puteri Maizura Razali, Barry Ooi, Nadia Norzuhdy, and Sylvia Yin.
Strategising a Strong Retail Plan
Our event closed with a seminar on “Retail Strategy 101”, hosted by Sylvia herself. During this session, she explained the relationship between merchandise planning and pricing, determining the right formula for your merchandise plan and how to increase product assortment profitability.
Sylvia Yin conducting her seminar on Retail Strategy 101.
Audience members participating in the Q&A session.
We were delighted to see a variety of familiar faces from the industry but also new ones who are embarking on the journey of running a fashion enterprise. We hope all those who attended were able to gain valuable insights, connect with other industry professionals and above all – understand how to employ the right skills, with the right tools.
Our guest listening intently to our seminars and talks.
You might also like
Omnilytics Acquires Data Labelling Platform Supahands In $20m Deal
Omnilytics, a fashion analytics and insights software, announced its intention to acquire and partner with data labelling platform, Supahands, in a deal valued at US$20 million. Omnilytics will be embarking on an ongoing strategic acquisition drive to bolster its core functions and technological capabilities to supercharge its long-term growth. Kendrick Wong, Omnilytics CEO and Co-Founder […]
An A.I. (and Taxonomy) Problem: One Wedding Dress
“I want people to see the dress, but focus on the woman.” Vera Wang. On Thursday, July 29 (Asia and Oceania) and Friday, July 30 (Europe and Americas), I participated as a panellist at the Omnilytics Fashion Summit discussing the future of data-driven taxonomy with Artificial Intelligence. What is Fashion Taxonomy? For reference, fashion taxonomy […]
What Will Women’s Workwear Be Like Post-Pandemic?
Employers in the U.S. can now start planning a return to the office as, following a successful vaccine rollout, the country eases many of its Covid-19 restrictions. Data from the Centers for Disease Control and Prevention (CDC) shows that 67% of American adults aged 18 or older have received at least one dose of the […]
Market Insights Made Easy for Speed and Precision
With the recent mass digitisation of fashion retail due to the pandemic, merchandisers, buyers, and designers are increasingly relying on insights to power decision-making. The need to move away from gut feel to actionable insights is becoming more urgent given the high level of competition in online trading. For many brands and retailers new to […]
Top 5 Menswear Trends for Spring/Summer 2021
Like most things in this pandemic, the Spring/Summer 2021 menswear trends are not of the usual variety. The runway season itself was atypical, with major brands like Balenciaga and Gucci opting for virtual fashion shows to eliminate any risk of spreading Covid-19. Designers are embracing the new normal not just in the way they present […]
Product Matching: The Wings for the E-Commerce Boom
For the average customer, the entire retail world now fits into a 15” laptop or 5” smartphone. It is true you can find your preferred product for purchase across different e-commerce sites and portals. However have you ever stopped to wonder about the magic that happens behind the screen that allows you to be presented with different options for the same product, same model, and same variant?