Fashion retailers share thoughts on industry's future
Industry insiders and company executives called on fashion retailers to optimize operations and pursue more refined models to win future competition.
Pei Liang, chairman of China Chain Store Franchise Association, told the China International Fashion Retail Industry Summit in Shanghai that physical retailers have an advantage compared to those with a purely digital presence, and fashion retailers in particular should embrace the digital trend to stay close to younger consumers and innovate their business model.
"Building up omni-channel operations does not just mean to open an online storefront but to digitalize operations in all aspects: from sales, service, merchandise to customer management," he noted.
Chen Bing, general manager of Sephora China, said that how consumers experience beauty products is also an important part of its brand assets.
The company's offline stores are now equipped with new technologies and gadgets to help shoppers better understand beauty and skincare products.
"Combining online and offline capabilities is essential for a beauty retailer and we're also building online community to encourage sharing of product feedback from consumers," she said. "At the same time, we're opening new stores to allow more people to have access to the latest beauty trends."
Li Mingguang, founder and chairman of domestic fast fashion chain Urban Revivo, called on fellow domestic fashion retailers to expand into overseas markets as home-grown apparel still lags behind international brands in terms of sales.
It now has five overseas outlets since it opened its first in Singapore in 2017.
"To become a large-scale fashion retailer overseas is essential, although the domestic market is large enough and still booming," he said.
