E-commerce fashion sales are growing three times faster than sales at brick-andmortar stores. More than 25% of fashion sales in Western Europe are expected to take place online by 2020—many on platforms, or websites where various fashion brands sell their wares—up from 20% today. In light of that growth, the marketing of fashion brands has migrated online as well, according to the Boston Consulting Group(BCG).
BCG further states that while many fashion brands talk the talk when it comes to digital marketing, few truly walk the walk. For example, while 76% of brands see personalization as highly important, only 13% use it comprehensively. Generally speaking, brands are only at the halfway point when it comes to achieving digital-marketing excellence. They have a lot to gain by taking these digital-marketing capabilities from basic to state of the art, including a 15% increase in revenues, on average.bmd
Courtesy: Boston Consulting Group