‘Tis the Season for Apparel Retailers and BrandsDecember 21, 2017
It’s the most wonderful, and busiest, time of the year for retailers and brands! Shoppers are looking for last-minute gifts and stocking stuffers, and retailers are looking forward to successful year-end results. This holiday season, we’re seeing a few key trends emerge for apparel retailers and brands:
Consumers Are Spending More on Gifts
According to The Wall Street Journal, retail sales in November increased 5.8 percent from last year. The National Retail Federation (NRF) also expects consumers nationwide to spend about four percent more this holiday shopping season than they had in 2016. These increases indicate that Americans are buying more and saving less this holiday season.
High Volume of E-commerce Orders Is Slowing Holiday Deliveries
With a forecast of approximately $107.4 billion in holiday sales for online orders this year, there isn’t enough capacity to make fast shipments through the busy season. Poor planning and lack of visibility will give retailers and brands a difficult time fulfilling orders. In order to get products into consumers’ hands fast, retailers need to be equipped for an unanticipated volume of orders.
The Holiday War is Focused on Inventory, Not Revenue
In recent years, the rise of e-commerce and increasing demand for fast shipment and delivery have created inventory problems. This has led brands to invest in tools to track products throughout the supply chain in an effort to reduce overstocks and make more of what selling. Now, instead of trying to increase sales and revenues, fashion brands are in a war to end up with the least amount of unwanted merchandise post-Christmas.
May Your Supply Chain Be Merry and Bright
With NGC’s Andromeda Cloud Platform, fashion brands and retailers can improve speed to market and responsiveness, even in the busy holiday season. By providing data in real-time, retailers and brands can be prepared for unexpected delays, with complete visibility and control from concept to delivery. Retailers and brands can also make better sourcing decisions, getting more of what’s selling and getting out of what’s stalling, making for a brighter holiday season for retailers and consumers, alike.
Meet with NGC at NRF booth #2520 to demo the Andromeda Cloud Platform and learn how to enable the Digital Supply Chain before next holiday season.
Happy holidays from all of us at NGC Software, and we hope to see you at NRF in January!