Deloitte China released the new growth path of China’s footwear and clothing industry in the digital age on the 10th. It pointed out that the digitization process of retail consumer goods industry has entered an accelerated period after the covid-19 pneumonia epidemic, and consumers’ shopping habits and preferences have changed greatly. China’s shoe and clothing industry is facing three major problems: the transformation of consumers’ buying habits, the shrinkage of traditional store business and the rapid transformation of fashion hotspots. Digitization will be an effective way to solve these problems.
The report shows that the rising generation Z is more personalized and diversified, and its buying habits have changed dramatically. Shoe and clothing brands urgently need to find a way to get along well with these young people. The business of retail stores that used to rely on for survival is shrinking day by day, and the cost of traditional e-commerce is increasing year by year. Balancing the contradiction between online and offline and finding a healthy growth business model has become a thorny problem; In addition, the Japanese tide, the Korean tide and the national tide hit one after another, and the word “fast” of hot money transformation took the lead, but it was difficult for brands and enterprises to accurately predict and respond quickly.
Deloitte believes that digitization is the key to solving the above problems faced by the shoe and clothing industry. Among them, there are three paths that may help the growth of China’s shoe and clothing industry: one is to use big data to reconstruct the relationship between brands and consumers, the other is to use the private domain to grow the new blue ocean, and the third is to make use of the efficiency of digital enabled product R & D and supply chain.
At present, the importance of big data for enterprises is self-evident. With the primary generation of the Internet on the consumption stage, their tracks are all over Wuxi Online Offline Communication Information Technology Co.Ltd(300959) , and the data available to enterprises are very rich. These data come from online platforms, offline channels, brand / enterprise private domain ecology and third-party data. Multi contact and multi-dimensional transaction and behavior data cover the whole life cycle of consumers. With the blessing of consumer big data, enterprises can formulate marketing strategies according to different types of portraits through accurate customer portraits, strive to integrate offline stores and various types of online platforms and formats, and realize omni-channel operation management.
Deng Nie, leading partner of Deloitte Management Consulting China’s consumer goods and retail industry, said: “for Omni channel enterprises, the more important challenge is how to effectively open up and integrate the data of various systems and third-party services, so that they can use the data to promote business and truly transform the data into their own competitiveness.”
The survey shows that at present, the dividend of Internet traffic in China is gradually disappearing, the growth rate of online shopping users is slowing down year by year, and the cost and difficulty of online customer acquisition by enterprises are rising year by year. In this situation, the importance of enterprise private domain ecology has become increasingly prominent. Enterprises are forced to adjust their strategies and playing methods of traffic, from “traffic” to “retention”. All major e-commerce platforms are exploring ways to play in the private domain, and the private e-commerce represented by wechat applet has entered a fast rising channel. In many industries, the trading of small programs in the clothing industry is growing particularly rapidly.
Deng Nie said: “after many years of development, the ecology of the private sector has been relatively perfect, and the business mode can be closed. The links between the transmission, grass planting, trading, customer service and other members have been carried out by the corresponding products. The relationship between the private sector ecology and the enterprise function lines is more closely related. Official account, small program and digital shopping guide are the three most important contacts in the private domain.”
In terms of new product R & D and supply chain, Deloitte found that enterprises can not only accurately locate the planning direction through the platform big data, but also help brands verify the new product design direction through digital research and intelligent co creation. In addition, through analysis, digital simulation test can timely obtain the real feedback of consumers of unlisted new products and grasp the potential consumers.
Deloitte believes that for Chinese shoe and clothing enterprises, digitization has given birth to new sales channels and communication interaction methods, which not only challenges the traditional distribution system and store model, but also brings new technology and innovation power; These changes in turn gradually affect brand research and development, design and supply chain system.
(source: Xinhua Finance and Economics)
