Big Data: New Retail Forced Garment Industry Reform

The "double 11" just concluded shows the inseparable relationship between the digital economy and globalization.

While paying attention to the record of turnover, we should also see that the new retail business is forcing.

Completion of change.

Today, the apparel industry has entered the era of Internet and information, which means that the garment industry will face the upgrading of all digital, consumer centric and information pfer acceleration, which also means the new retail era.

In the new retail era, big data and new technology will upgrade the energy supply chain, and define the business capability and digital technology by consumers.

Qian Yixin, managing partner of KPMG's China consumer goods retailing industry, said: "based on data enabled global business, we can gain long-term competitive advantage, enhance brand stickiness, create new customers, new needs and new services through scenario, interaction, connection and experience."

The apparel industry has gradually shifted from the traditional retail chain value chain, which is centered on the enterprise itself, by the enterprise to decide the management mode and information technology, to the new retail ring value network centered on the consumer.

At present, the leading garment industry is from global marketing.

Six aspects of research and development, creating industry chain, full channel integration, smart stores, brand big data and so on to explore and embrace new retail.

Faced with the change of market structure, many local brand enterprises seize the opportunity to actively innovate their business models.

Zhou Shaoxiong, chairman of the seven wolves, said that now the seven wolves have shifted from the traditional clothing industry to the retail channel service industry and other areas, while actively shaping the brand and building their own culture.

"The development of e-commerce has changed the traditional trading mode. Online platform trading has changed people's consumption patterns.

At present, the seven wolves not only actively use all kinds of public electronic platform such as Tmall and Jingdong, but also build their own brand official mall, providing consumers with an omni-directional online consumption experience.

Zhou Shaoxiong said.

Professionals say that the digital economy will promote consumer centred and promote the pformation from B2C to C2B business model.

Big data analysis can help manufacturers and retailers to track consumer demand preferences in real time, dig deep potential markets, provide personalized products, and guide consumer products upgrading.

At the same time, with the continuous improvement of China's production capacity and innovation ability, and more pursuit of the craftsman spirit and quality first, China's industrial structure is also upgrading to high-end manufacturing and service industries.

Despite the clothing industry

Change is in the lead position, but inventory imbalance, low profits, customer churn and sales bottlenecks are still the main pain points for the garment industry over the years.

Qian Yixin said that in the face of rapid market change and increasingly fierce competition, brand operators' "no" will mean being eliminated.

Clothing brands are facing the greatest challenges, but they are also facing the greatest opportunity. Next step is to understand the impact of new retail on strategic and financial objectives, strengthen global operations in the business mode, introduce digital means, and attach importance to the development and application of big data and new technologies, thus supporting the upgrading of business and operation modes.

It is understood that in 2015, the online business of the seven wolves was trying to carry out more sales of new products such as outdoor series.

At the same time, as an important channel for the sales of needle and textile products, the needle spinning series has contributed more than 270 million yuan of sales revenue to the company's online business.

In 2015, the business revenue of the company's e-commerce business was about 700 million yuan, an increase of more than 60% over the same period last year.

In 2016, the seven wolves online channel continued to maintain a relatively high growth rate, achieving a total operating income of about 900 million yuan, an increase of over 30% over the same period in 2015, of which the needle spinning series

Sales revenue of about 400 million yuan, an increase of more than 50% over the same period last year.

The industry pointed out that obviously, the new economy represented by electronic commerce has improved the efficiency of social operation, and various new business models and commercial formats emerge one after another.

This new round of technological revolution and new retail business may bring about great changes in the future business. The traditional Brand Company has more opportunities to participate in the new mode of change than the social capital by relying on accumulated funds, channels and supply chains.

The winner of this round of change may be the next leader in business.