mode Amazon: Give the lady what she wants - Part 4 of 4

 Over the last three weeks I wrote about the planned entry of Amazon into the fashion industry. Last week, I concluded that the offer of exclusive ranges of channel retailing is the key to victory in the picture on Amazon. This would help those who love shopping at Nordstrom find clothing lines that they love, and loyalty will remain with Nordstrom. Same with other retailers such as Macy's, Saks, Neiman Marcus, and even Amazon. If a trademark has the right products for each channel, would be the number of products that sell at full price, due to its higher, so a win for businesses and brands.

Famous quote by Marshall Field, "Give the lady what she wants," is still true today. But as retailers and brands to really know what the lady or the gentleman, really? Course assortments rights for years, but has often without good data on customer preferences offered by each dealer. Manufacturer's recommendations to retailers, marketers and use their experience and intuition to product selection to be made. The result is that 50% of the introduction of new products fail (according to MIT Sloan Management Review).

Retailers who Analytics uses in making decisions often based on historical data. The challenge is that this "lady" was the last season or last year may not representative of what they want to buy next season. In short, the information is outdated.

But there are ways in which retailers and brands can work together to determine the specific products that resonate with each set of consumers, in advance of the introduction of new products. The key is to engage consumers with new technologies that make it possible to know to trade with them in real time what they want to make access. And the good news is that consumers want to participate!

Take for example the distribution of Brazilian fashion C & A, which has been testing recently, a new type of interactive social media with its "Fashion Like" program. In their stores, C & A has specialized hangers that contain digital meters installed. C & A customers can now view new clothing retailer's Facebook page. Whenever someone "like" something on Facebook, a digital counter on the steps of suspending that element in all its branches. C & A finds out what its customers want and people watch in real time what is popular.
Another example is New Zealand Fashion Festival (New Zealand version of Fashion Week in New York City), took place in March this year. The Fashion Festival has used a combination of Pinterest to Facebook and Twitter engagement with consumers on fashion products that drive has not yet been published. More than a million fans, "friends" were involved online with New Zealand Fashion Festival, a 70% increase in exposure at the previous event. I am sure that you are interested in the implementation of such numbers! Who would not?

It is clear that consumers engage with brands and retailers want. So how do you take this post - consumer rights - and makes sense to make a more accurate selection?

Amazon uses the data analysis for its customers better than anyone else to understand. The company has a huge database containing the history of browsing and shopping at millions of consumers across several product categories. How can you have the experience, the platform of Amazon in the position to make clear recommendations is strange to other products you can buy to generate. But what Amazon does not know consumer preferences are specific to each retailer, brand, and especially before they pull the trigger on the purchase.

Use of consumer engagement tools and predictive modeling can, retailers and brands work together to filter per channel, and consumer preferences for the brand / product to identify each set of customers. Retailers usually huge databases of their most loyal customers. In presenting the customer with the brand, which only started yet and product options via online methods, both of which can be connected to the dealer and the manufacturer to determine what they want customers, and in planning before major expenses are the production and transportation incurred. By tapping into the "wisdom of crowds" can retailers and brand managers to reduce the guesswork and develop exclusive product lines from which they will know with the buyers of the individual channels to oscillate. Brands can use Amazon in the same way to work and develop product ranges for this exclusive online marketplace.

With this approach, in order to keep the brands and retailers' margins to keep the distinction straight. Amazon will be able in any case a certain amount of fashion stores, but brands control the product categories in which it occurs.

Ultimately, the lady will get what she wants, and the winners are those who really want to what they hear before they have released their credit card. The losers are those who stayed on to explain why their composition and margins are gone.

A former mine manager in the retail sector used to say:

"There's always the weather, trucks, too late, wrong deliveries and any other reasons, but if you do it right (ie the right product for the customer to the right), you're a genius."

I wonder how many there are. Are you one of them?