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Clothing Retailing: Unraveling Trends Across In-Store and Online Segments

How are In-Store Segments Evolving?

Within the realm of clothing retail, shifts in in-store segments have been observed. Despite some initial resistance, brick-and-mortar outfits are now making significant strides in integrating digital technologies within their processes. They are aiming to enhance the in-store shopping experience. For instance, digital fitting rooms and contactless payment systems are gaining momentum irrespective of the reduced footfall due to the pandemic.

Is the Online Segment Defining New Norms?

The online segment of clothing retail has been growing at a fast pace, driven by changing consumer behaviors and support from technological advancements. E-retailers are increasingly leveraging AI for personalized recommendations which are facilitating impulsive purchases. Moreover, there is a strong emphasis on improving customer service, particularly in areas such as return and refund policies. Consequently, this segment is shaping a new normal in retailing.

How is the Omnichannel Framework Impacting Retailing?

As both in-store and online segments go through their own evolutions, the concept of omnichannel is coming to the fore in clothing retail. An increasing number of retailers are finding that successfully blending the in-store shopping experience with the efficiency of online operations is providing an edge. Embracing the omnichannel framework is becoming seen as a key strategy for survival in a competitive environment.

Key Indicators

  1. Total Retail Sales Volume
  2. Online Sales Volume
  3. In-Store Sales Volume
  4. Customer Traffic Trends
  5. Average Transaction Value
  6. Customer Conversion Rates
  7. Sales per Square Foot
  8. Inventory Turnover Ratio
  9. Return Rates for In-Store and Online Purchases
  10. Promotional Discount Frequency and Impact