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MySize and Virtual Retail, An Opportunity Beyond the Size
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MySize and Virtual Retail, An Opportunity Beyond the Size
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Retail
An analysis of the non-common sizes market in the fashion industry and the E.L.S.E. approach.
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MySize and Virtual Retail, An Opportunity Beyond the Size
1.
Exclusive Luxury Shopping
Experience - mySize - © 2016 ELSE Corp S.r.l. 1
2.
© 2016 ELSE
Corp S.r.l. Index 2 • The Scenario • The Challenge • Identifying The Spot • The E.L.S.E. Way • Summarising: How it fits the Brand
3.
www.else-corp.com Luxury 3.0: THE
SCENARIO © 2016 ELSE Corp S.r.l. 3
4.
© 2016 ELSE
Corp S.r.l. The Luxury Consumer 4 The definition of luxury requires absolute quality, uniqueness & deeper experiences.
5.
Luxe Immune Classpirational Fashionista Experiencer Social Wearer ©
2016 ELSE Corp S.r.l. The Customer: Style in the Correct Size 5 AWARE OF SEASON TRENDS METICULOUS & DEMANDING INTERESTED IN A MORE PERSONAL SHOPPING EXPERIENCE FOCUSED ON QUALITY & SUSTAINABILITY DRIVEN BY STYLE, QUALITY & COMFORT
6.
Now 25% are willing to
pay a premium price (+20%) (Deloitte, 2015) 45% spend money on personalization (Forrester, 2015) 45% are comfortable waiting longer to get a personalized product (Deloitte, 2015) “By 2020, 15% of the clothing Americans buy will be customised. That is $35 Bn worth in sales in apparel alone.” Merjin Helle VP SAP America The Future “Hyper-personalisation has started to grow in 2015 and will become a more important part of the customer experience over the next couple of years” Craig Cannon IBM Business Development Manager © 2016 ELSE Corp S.r.l. Luxury Products Customisation: Now and the Future 6
7.
Omni Channel Retailing Customization of Products Emergence
of Luxury Fashion in On-Line Fashion Visual Commerce Trend Fashion Retail © 2016 ELSE Corp S.r.l. Four Trends that are Shaping Fashion Retail 7
8.
www.else-corp.com Luxury 3.0: THE
CHALLENGE © 2016 ELSE Corp S.r.l. 8
9.
NEW CONSUMER BEHAVIOR NEW MOMENTS
OF PURCHASE DIFFERENT NEEDS & DESIRES FAST & BIG CHANGES © 2016 ELSE Corp S.r.l. The Current Context 9
10.
CLOSING STORES GEO
PRESENCE REVISION INVESTMENT IN NEW PROCESSES & TECH THE RESPONSE © 2016 ELSE Corp S.r.l. Complication & Opportunity 10
11.
www.else-corp.com Luxury 3.0: IDENTIFYING
THE SPOT © 2016 ELSE Corp S.r.l. 11
12.
“No, we don’t
want anything different… We want to be visible. We want to wear great clothes. We want to participate in the same trends.” - Nicolette Mason - © 2016 ELSE Corp S.r.l. The Consumer Insight 12 Nicolette Mason is a prominent blogger, fashion designer and columnist for Marie Claire.
13.
ALWAYS AVAILABLE SUITS YOUR
STYLE ADAPTABLE TO YOUR TASTE FITS YOU PERFECTLY © 2016 ELSE Corp S.r.l. The Perfect Product: Customer View 13
14.
NOT ON-TREND (most of
the time) HARD TO FIND THE RIGHT QUALITY LACK OF VARIETY NEED FOR INSPIRATION & EMPOWERMENT WHAT CONSUMERS SAY © 2016 ELSE Corp S.r.l. Plus Size: The Struggle 14
15.
DIFFICULT TO FIND CLOTHES
THAT ACTUALLY FIT STYLES & CUT ARE LIMITED AND NOT SUITABLE HARD TO KNOW IF SOMETHING WILL FIT IF IT IS BOUGHT ONLINE IT IS COMMON TO PAY EXTRA FOR ADJUSTMENTS © 2016 ELSE Corp S.r.l. Petite & Tall Sizes: The Struggle 15 WHAT CONSUMERS SAY
16.
ON - TREND HIGH
QUALITY FASHION IN THE CORRECT SIZE FROM HIGH - STREET TO LUXURY BRANDS EMPOWERMENT & INSPIRATION WHAT THE CUSTOMER WANT © 2016 ELSE Corp S.r.l. The Opportunity Beyond the Size 16
17.
IN LINE WITH
THE BRAND’S STYLE CAN BE CUSTOMIZED PERFECT FOR THE CUSTOMER MADE WITH INNOVATIVE TECHNIQUES © 2016 ELSE Corp S.r.l. The Ideal Garment: Brand View 17
18.
ALWAYS AVAILABLE + DIGITAL
EMPOWERMENT & INSPIRATION SUITS YOUR STYLE FROM HIGH - STREET TO LUXURY BRANDS ADAPTABLE TO YOUR TASTE ON - TREND FITS YOU PERFECTLY HIGH QUALITY FASHION IN THE CORRECT SIZE © 2016 ELSE Corp S.r.l. Redefining the Perfect Product 18
19.
CHARACTERISTICS:PERFECTPLUSSIZEPRODUCTS FROM HIGH -
STREET TO LUXURY BRANDS HIGH QUALITY FASHION IN THE CORRECT SIZE + DIGITAL EMPOWERMENT & INSPIRATION ON - TREND CHARACTERISTICS:LUXURY3.0 TAILORING DEEPER EXPERIENCES SPEED © 2016 ELSE Corp S.r.l. In - Line with Luxury 3.0 19
20.
LEVELSOFCUSTOMIZATION © 2016 ELSE
Corp S.r.l. Best Practices: Customisation 20 Monogramming 1 Complete Customization3 Partial Customisation2 • Base product model • Color of monogram • Size of the font E.g. Burberry scarfs • Base product model • Match between a component of the product and the product E. g. Fendi Strap You • Base product model • A range of personalization options is offered, including materials, accessories and monogramming E. g. Gucci DIY
21.
© 2016 ELSE
Corp S.r.l. Cross Sales: Leather Goods 21 GLOVES HANDBAGS SMALL LEATHER GOODS SHOES BELT Product Correspondence Style Material Accessories
22.
© 2016 ELSE
Corp S.r.l. B2B Relationships: A Tool for Partner Ateliers 22 SALON / ATELIERBRAND • 3D Services • Manufacturing System • Interactive Visual Merchandising • Scan Input • 3D Fitting • Try - On Features
23.
© 2016 ELSE
Corp S.r.l. 23 NON - RETAIL SPACES FASHIONISTA CLASSPIRATIONAL LUXE IMMUNE TYPE OF CUSTOMER EXPERIENCER SOCIAL WEARER HOTELS WEDDING SALONS AIRPORT LOUNGES HOTEL ROOMS VIP LOUNGES BEAUTY SALONS SPAS Brand Experience Points: Non Retail Spaces
24.
PremiumLoyaltyProgram Premium Services Next Purchases MTM Items © 2016
ELSE Corp S.r.l. Premium Loyalty Program Subscription Scheme 24 FASHIONISTA CLASSPIRATIONAL EXPERIENCER SOCIAL WEARER LUXE IMMUNE A Happy & Loyal Customer as Brand Evangelist
25.
www.else-corp.com THE E.L.S.E. WAY ©
2016 ELSE Corp S.r.l. 25
26.
- First Mover
& Game Changer since 2014 - Full Service Provider for Virtual Retail Industry - M o d e r n S a a S p l a t f o r m , designed by top industry experts and built by leading technological teams. In the process of formalising of 3 patents for: User Experience Product Mass Customisation © 2016 ELSE Corp S.r.l. ELSE Corp (Group) 26
27.
INDUSTRIAL “MADE TO
MEASURE” MADE SIMPLE © 2016 ELSE Corp S.r.l. E.L.S.E.: The Concept 27
28.
B u i
l d i n g a c u t t i n g - e d g e technology ELSE SaaS Platform, focused on delivery of an exceptional user experience and fully supporting the Virtual Retail business model integrated on top of brand’s e-commerce platforms, from Interactive Visual Merchandising for personalised sales, to ERP & on- demand manufacturing. ERP & Manufacturing Systems 3D V-Shop Interactive Visual Merchandising © 2016 ELSE Corp S.r.l. ELSE Corp: The Technology 28
29.
B2C (End Customers) Buy in
“made to order” mode (never existed in a visual way before). After the first “ideal order” for a product (maximum loyalty realization and self-care, for customer lifecycle). New Customer Experience Semi - Automated Next Purchases B2B (Brand & Retailers) Added value factors: - Made to Measure - Product Customization According to Virtual Retail operational model. Zero Stock (MTM) Retail Sales Model Response to “fast fashion” trend for the Luxury Fashion sector © 2016 ELSE Corp S.r.l. UVP by E.L.S.E.: Main Benefits 29
30.
© 2016 ELSE
Corp S.r.l. Unique Value Proposition: Competition Analysis 30 3D Fitting - Fitting for 3D model of a products - 3D avatar of customer Virtual Fitting Startups Scan Input - Good hardware development - Cloud services for better avatar creation & analysis Body Scanners Startups - Real - time product display on a digital mirror - Product color replacement Virtual Mirrors Startups Try - On Features CLOUD
31.
© 2016 ELSE
Corp S.r.l. The Vision: Omni - Channel Virtual VISUAL Shopping 31
32.
Integration with e-commerce merchants
websites. Integration into e-commerce technology. Integration into e-commerce service provider’s platforms. ELSE is an infrastructure for Virtual Retail services (own and 3-rd parties), and a way to build custom Virtual Shopping applications V - CRM DAM 3D Services Real Time Recommendations © 2016 ELSE Corp S.r.l. Service Delivery Scenario: E - Commerce Integration 32
33.
www.else-corp.com SUMMARISING: HOW IT
FITS THE BRAND © 2016 ELSE Corp S.r.l. 33
34.
B2BB2C Traditional Response - Store
closing - Geo presence revision - New processes Sales Tools & Technology - Window displays - On - line store - 3D Body Scanners - 3D Printers - Interactive tailoring mirror - Holograms - Virtual Consoles - In - Store E - Commerce - CRM Systems Current Scenario - Slowdown in openings - Physical stores are not rentable - Decline in sales - Unsatisfied demand * - Less sales in mature markets - Slow stock rotation (in some products) Current Trends - 45% of shoppers spend money on personalization - 25% of consumers are willing to pay a premium price (+20%) - 45% are comfortable waiting longer to get a personalized product - Millennials are 216% more likely to be influenced by in-store touch screen displays Tech Integration © 2016 ELSE Corp S.r.l. Luxury 3.0 & E.L.S.E. 34
35.
© 2016 ELSE
Corp S.r.l. Benefits: The Customer & Brand 35 CUSTOMER BRAND Wide Range of Customizable Products More Engaging Experience Better Buying Decisions Increased Customer Satisfaction Sense of Uniqueness in the Product & Service Customer Empowerment Brand Enrichment Improvement of Sales per Square Meter Attraction of New Customer Segments Better Customer Engagement Centralized and Reduced Stock Uniqueness as a Competitive Differentiation
36.
© 2016 ELSE
Corp S.r.l. Integration into Brand Offer 36 MTM MTO customisation In Store E-Commerce In Store Inventory (Local stock) To hide all complexity Store assistant does things for you Style Suggestions
37.
Brand’s Website &
E- Commerce Cross Sale 3rd Party E-Commerce Portals Flash Sales Sites In-Store Digital Experience Virtual Shopping 3D Environment E.L.S.E. Virtual Boutiques can be integrated in various environments - physical and virtual and across several platforms of the brands. © 2016 ELSE Corp S.r.l. Integrable into any Brand Environment 37
38.
- An exceptional
user experience for the brand’s customers - Guidance and support for the brand’s entire Virtual Retail business model - Seamless management of all the processes involved, enabling luxury brands to provide made to m e a s u r e a n d o n d e m a n d products to their customers - Configurable service offering, to fit exactly with the brands’ needs Capsule Collection Management Virtual Boutique Management Made to Measure and Personalized Sales ERP & Orders Management E.L.S.E. offers: © 2016 ELSE Corp S.r.l. E.L.S.E. B2B Service Offering 38
39.
© 2016 ELSE
Corp S.r.l. 39 www.else-corp.com KNOW MORE ABOUT
40.
www.else-corp.com Thank You! Andrey Golub,
Co - Founder & C.E.O. a.golub@else-corp.it © 2016 ELSE Corp S.r.l. 40
41.
www.else-corp.com © 2016 ELSE
Corp S.r.l. 41 Disclaimer Brands’ logos inserted in this presentation belong to their respective owners and ELSE Corp Srl does not claim rights over them. Data and information provided in this presentation belong to public sources of digital access. ELSE Corp Srl has no responsibility for the accuracy of these sources. The pictures that are on this document are copyrighted to their personal owners. The credit is to the owner and in no way we are claiming the right to these photos. The pictures are taken from URL’s on the web and believed to be public.