According to Margueritte LeRolland and Fflur Roberts, head of luxury goods and fashion Euromonitor, the sector of retail trade must adapt to the ways of life and new habits, understanding the crisis of inflation and the high cost of living that have led the consumers to reduce their spending.
The shops of “fast fashion” must assume that the consumer trends are contradictory and volatile, therefore, the key is to go at the same pace with the dynamism in the patterns of consumption.
For the fashion brands we define two types of consumers: those who want to forget about what is going to happen tomorrow, because the world, the crisis and the effect of the pandemic, I will leave you overwhelmed. Think of today, in the time that they live and within your enjoyment, spent. On the other hand, there are consumers saving, they are concerned about what is happening now, the world is concerned, and the present, convinced that we have to decrease spending.
Consumers of luxury brands are thinking about sustainability. Shopping efficient that last the test of time and are friendly with the environment. They are thinking about the perceived value of what they buy, their use, their continued existence in time, not in your price.
Know these 5 tips that will allow you to survive in times of crisis:
1. Consider a supply chain short and agile control:
Rethinks the production model and the output paths to the market. The raw materials are rising from the pandemic and the shipping costs are high.
2. Ten green initiatives and applied social responsibility:
The sustainability of the consumer refers to the support of communities of interest and care for the environment.
3. You create a product of value and an experience behind the purchase:
The spending is discretionary, but the desire to live experiences remains intact. Less is more, just think of the quality, the stories behind the products and forging lasting connections with your customer.
4. I know digital:
The physical experience must move to digital. Emerging consumer are already thinking about the metaverse.
5. The physical and emotional well being is imperative:
The consumer postpandémico is focused on your health and well-being.
Definitely, the demand is raising for the stores retail a new business model. Do you know how to survive this? FollowUP helps you to create business strategies that will allow you to survive in times of crisis.
