Katherine Power, CEO Clique Media Group (CMG) (the media and commerce company behind the three popular websites: WhoWhatWear.com, Byrdie.com, and MyDomaine.com, as well as the omni-channel social content brand, Obsessee, joins Liz Bacelar (global expert in the intersection of fashion and technology) for this installment of TopTalk and an in-depth interview presented by Fashion Is Your Business at Shoptalk 2017 in Las Vegas.
The physical store will always have a place in the omni-channel ecosystem and that retailers can optimize this revenue channel while still focusing on e-commerce. Yet the look, size and function of the store will have to change. Retailers and brands will have to “rightsize” their physical store footprint and adopt in-store mobile technology to become more effective to serve and satisfy customer needs to drive loyalty and repeat purchase.
Whether or not the WeChat model evolves into a lucrative revenue stream for global brands remains to be seen but, depending on company scale and price point, WeChat stores could yet prove to be a meaningful way to supplement existing sales strategies in an increasingly competitive market.
TheCurrent, a platform that matches brands with technology solutions, inspired by Bacelar’s belief that fashion companies have limits to the tech they can pull off on their own. “The talk of the town today is open innovation,” she said. “That means recognizing that there are boundaries to what you can do. You cannot be a tech company, but you should be a digitally minded company.”
The brand, which is headquartered in L.A., also opened two new stores on Tuesday, one in Culver City and a second in Melrose. The openings bring Reformation’s store count to six, plus they mark the first additions to the brand’s techy store concept that debuted in San Francisco in March. The concept incorporates digital screens imitating the brand’s e-commerce store, as well as a “magic wardrobe” feature that enables the brand to sort its assortment on the sales floor based on product performance. According to CEO and founder Yael Aflalo, the brand uses real-time feedback from its physical and online stores in order to inform its production, as well as its assortment.
Chris Morton, the CEO and cofounder of Lyst (a social curation platform for online fashion – (bio), joins Liz Bacelar (global expert in the intersection of fashion and technology) for this installment of TopTalk and an in-depth interview presented by Fashion Is Your Business on location at Shoptalk 2017 in Las Vegas.
Rebecca Minkoff (Co-Founder, Creative Director and Designer of the Rebecca Minkoff womenswear brand) joins Liz Bacelar (global expert in the intersection of fashion and technology) for this installment of TopTalk and an in-depth interview presented by Fashion Is Your Business on location at TheCurrent Mansion in Austin, TX during SXSW.