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Breaking News, December 5 | LIVE Updates.
Hello and welcome to India TV Digital's coverage of all the Breaking News happening across India and the world. Stay Home, Stay Safe, and Stay Informed as our team of dedicated editors/reporters bring you the latest news photos, videos, views and top stories from politics, sports, education, science, entertainment, lifestyle, yoga, and much more from India and worldwide.
“Our partnership with Unicommerce is another step towards ensuring great customer experience by enabling faster deliveries and seamless online shopping experience. Unicommerce is one of the best e-commerce supply chain solution and it has been seamlessly integrated with our SAP ERP. The platform will also help us in faster decision making, smoother business execution, and accelerated growth,” says Ranjan Sharma, CIO and Head of Supply Chain, Bestseller India.
We are vigorously working on our digital presence, automated step wise operations and level of production. Our e-commerce portal is going through a re-working currently. It needs to be updated for a more focused attention to consumers switching to shopping more online. We are also looking into other supply chain options in terms of outsourcing some productions. This is a cycle where we will also have redefine products as well as come up with more concise solutions to which our online clients can connect to easily.
Transformations mostly emerge from need. The current COVID-19 pandemic has forced many around the world to rethink our daily lives – from work to entertainment. In response to the situation, many consumers have turned to digital services to make key purchases to continue with a semblance of normality.
Globally, there has been a 70 percent increase in internet time and 60 percent spike in engagement across various social media platforms over the past months. According to data revealed by Facebook recently, the company has seen up to 70 percent more time spent across their apps, with Instagram and Facebook Live views doubling in just a week.
The company leverages heavily in AI to process incoming products via image recognition that enables automated visual tagging and assigns attributions based on necklines, patterns, label name, color, fashion edginess, and more. Of late, Gap Inc. became the largest clean out participant to date in ThredUP’s Resale-as-a-Service (RAAS) program.4B Label The Bombay Hemp Company, popularly known as BOHECO, has been pushing the envelope to help reimagining the future of Indian agriculture and sustainable living with hemp. The company’s fashion arm, B Label, offers cannabis fibres stitched into chic and trendy basics. The brand’s product basket encompasses a wide range of modern day essentials – right casual button-down t-shirts and light summer shorts for men to skater skirts and kimono tops for women.
“Gone are the days when fashion forecasted future trends and end up with heaps of waste. Now brands need to transform, leverage on data for consumer preferences and make products accordingly. This will help them in mass customization and ensure that the waste is zero; we all know how sustainability is going to take a center stage in fashion going forward, and the luxury fashion industry can definitely take this route to deal with a perennial problem like textile waste.,” he said.
Retail experts around the world have ubiquitously called the COVID-19 pandemic has as unexpected catalyst for technology adoption. While most of these technologies were already there, the crisis has amplified the adoption rate. “Back in 2012, when I joined Myntra, people were skeptical about the success of fashion through online channels. But see what we have today! Most innovations look too futuristic but today we have to consider that adoption rate is too high, and technologies become mainstream very soon. Today, we have think digital by default and not just by design,” stated Subramanian.
Like most of the retailers worldwide and in India, Ayesha Accessories is also making a strong effort in pushing its omnichannel capabilities to sell. “Our e-commerce site is being revamped and we are projecting a 300 to 400 percent increase in sales through e-commerce within the next 12 months,” said Kapur.
According to Shirin Mann, nothing can replicate the experience that brick-and-mortar stores offer, and consumers will wait for them to re-open. “Consumers today are still afraid of going out and being in a public place, but they yearn the experience that physical stores offer. It’s physical stores where consumers can actually experience the brand story. In fact, we have just launched a brand new store 5 days ago, right in the middle of the pandemic. Also, we have seen consumer sentiment differs from city to city – like we are witnessing more footfalls in our Chandigarh store than the stores in Delhi, for obvious regions. At the same time, we have noticed that, at least for us, the conversation rates have increased manifolds. I think, people not really wanting to come out and shop in physical stores is interim – once this is over, things will definitely come back to normal,” she said.
“The Helsinki Fashion Week features 100 percent 3D avatars – draped with 3D imagery of fashion – created by real designers. Stylumia will, for the first time create an AI driven design, without any human input. The point is, there are a lot of virtual experiences in store for consumers post the pandemic; can we bring them to our consumers to give them a virtual experience of going to a physical store and buying a product?