How To Deal With Retail Off-Season And Return, AI Intelligent Technology Or The Answer To The Pain Point Of Shoe Retail Industry

along with Online shopping With the increasing convenience and popularity of, the difference between off peak and off peak seasons of offline retail has become more obvious. Especially for the footwear retail industry, it is not only faced with the great difference between off peak and off peak passenger flow, but also the online return and exchange of goods has cast a cloud over the hearts of footwear retailers. How to deal with the retail off-season and return and replacement problems? Recently, the AI intelligent technology displayed by VOLUMENTAL, a well-known Nordic retail technology company, has aroused widespread interest in the industry. Perhaps this will be the answer to the pain point of shoe retail industry in the future.

If you want to do a good job, you must first sharpen your tools: VOLUMENTAL effectively reduces the problem of return and replacement

In order to reduce the return and replacement problems, it is necessary to first understand the reasons for the return problems. The consumer survey report from Power Reviews in 2021 reveals three reasons for consumer returns:

　　 70% fitness problems

65% product damage or quality problems

49% is inconsistent with the product description

It is worth noting that the fitness problem is the first reason for return. How much is the loss caused by return—— Up to billions of dollars! In 2021, the National Retail Federation (NRF) The reported total value of goods returned exceeded 761 billion US dollars.

So, how can retail business, especially e-commerce channels, reduce returns based on fitness issues? Now VOLUMETNAL can help brands bridge the gap between in store fitting and online shopping experience by using retail technology to personalize recommendations. No matter online or offline, consumers have been waiting for comfortable shoe fitting technology for a long time, and VOLUMENTAL's artificial intelligence (AI) makes finding suitable shoes simple, accurate and interesting.

Without lengthy online forms, VOLUMETNAL can generate foot shape reports and shoe recommendations in 4-5 seconds by using a simple and highly scientific 3D foot scanner in stores. Its mobile scanning can be completed in about one minute through self-service scanning with mobile phones and generate suggestions as well. Based on the algorithm, VOLUMENTAL will mine tens of millions of foot scan data to provide accurate shoe recommendations - match the data of other customers who have the same foot type and successfully purchased shoes. Fit Engine Computing provides highly personalized shoe and size recommendations to help ensure the ideal comfort. The results show that the sales of retailers/brands using personalized product recommendation technology increased by 20% on average, and consumers visited their personalized foot scan data 4.6 times a year on average.

"When we use VOLUMETNAL, we see a substantial increase in the conversion rate," said Steve Cohen, general manager of The Athletes Foot Group in Australia.

Solving the return problem requires a 360 ° perspective of customers. VOLUMENTAL can help brands use personalized data to do this throughout the shopping process, and personalized recommendation does not only exist in one shopping process.

VOLUMENTAL all-round retail technology creates opportunities for the off-season and makes the sales season last longer

After optimizing the return and replacement problem, customers can shop more happily, which does not mean that VOLUMETNAL's service is over. Its overall technical solutions continue to transform customer data into customized personalized marketing activities, increasing sales opportunities in the off-season and making the peak season last longer. For example:

Create a customer list that perfectly matches the shoes of a specific style to push product information specifically;

Tell parents that their children have grown taller again, and it is time to buy new shoes;

Contact customers through unique product recommendations tailored for them;

Find the right consumers for the promotional products with broken clearance codes;

For most retailers/brands, holidays mean peak sales season. About 19% of total sales occurred in November and December In September, conscious retailers/brand owners are seeking to improve their purchase process through technical methods, and use technology to reduce the difference between low and high sales seasons, so as to make the peak season more sustainable. In the case of VOLUMENTAL cooperation, the following can make the peak sales season more sustainable 3 ways:

　　 1. Find "comfortable and fit products"

　　70% Of Shoes The return is caused by improper fit. This is not surprising, because customers may deliberately buy more shoes to find the right size and style. Providing customers with effective methods to determine comfortable matching products suitable for them is one of the key points to make retail channels more sustainable. VOLUMENTAL's retail channel foot scanning service can be used by combining artificial intelligence (AI) and 3D foot scan to help avoid the problem of improper fit, thus ending unnecessary orders and returns.

　　 2. Provide personalized recommendation

By providing personalized shopping suggestions to your customers, you can reduce the return rate by up to 20% and increase sales. When you confirm that the style and size purchased by customers are appropriate, you can increase their confidence and customer value, and reduce unnecessary returns. When the off-season comes, You can recommend comfortable shoes to your customers based on the previous scanning data, and they don't even have to try them on in the store.

　　 3. Use retail technology to improve inventory management

In order to achieve the goal of sustainable retail development, inventory management is also very important. Scientific prediction and inventory management can reduce inventory backlog - not only to save costs, but also to help retail The enterprise develops well. VOLUMENTAL technical services can be connected with brand inventory. We can learn whether the size inventory is reasonable according to user data samples, and grasp the inventory dynamics in real time. The time difference caused by return and replacement logistics will not affect inventory forecasting and management.

　 VOLUMENTAL, not just retail technology

The value of retail technology solutions is not limited to consumer shopping experience. Retailers/brands can transform customer data into customized marketing activities to guide more business. Retailers/brands with personalization and product recommendation functions can achieve 20% sales increase. Customer participation is also increasing, because consumers visit their personalized foot scan 4.6 times a year on average, almost every other month.

Not only that, consumers increasingly want to shopping Consider sustainability in decision-making. A recent survey of consumers conducted by IBM and the National Retail Federation (NRF) shows that nearly 60% of respondents are willing to change their shopping habits to reduce the impact on the environment. Most of them are willing to pay a premium to buy more environmentally friendly goods. Simon-Kuchar A global sustainable development study by Partners found that 65% of American buyers consider sustainability when buying, an increase of 14% over a year ago.

Customers want to integrate greater sustainability into their daily lives and shopping decisions. Volumetal's size matching technology provides them with a simple way to take more sustainable actions and be loyal to their values.