“Better Customer Insights help Companies to use their Resources more efficiently!”

The Fashion Pact that was recently signed by more than 150 of the most important brands in the world. The objective is to make the fashion industry more sustainable. When you know that at least 1/3 third of production is wasted, the first step is to tackle the sell-through which can be penalizing both economically but also environmentally.

At Sustalytics, we leverage social media to predict what consumers want in order to optimize sell-through rate.

Part of the Google Launchpad Program and emerging Customer Insights Start-Up, we are pleased to announce that we have appointed Stephan G. Oehl as Advisor of the Board. Stephan G. Oehl compiles over 20 years diverse experience enabling internationally operating organizations to cope with rapidly changing market demands and customer behavior.

 

Mr. Oehl, why did you decide to join Sustalytics?

Stephan G. Oehl: I’ve known Julie A. Evans, Co-Founder of Sustalytics from our time with Tally Weijl. Both of us deeply believe, that successful companies are driven by a customer centric culture. After a couple of outstanding pilot programs with a portfolio of International Brands, the timing seems to be perfect to bring Sustalytics to the next level.

 

How can Sustalytics help to understand the Customer needs?

Sustalytics reaches thousands of relevant consumers in real time, to know their product preferences. The product development teams are able to eliminate the flop-sellers, even before any production of samples starts.

 

What are the achievements of Sustalytics?

Sustainability and Digitalization are two major drivers in the Industry. To eliminate future flop-seller during the product development process, helps to safe tremendous resources, not only for the company, but also for the environment. We’re talking about eliminating up to 20-30% of products. At the same time, all resources are now focused on top-seller development, which lifts the company’s top and bottom line.

 

The timing you mentioned seems to be perfect for the fashion industry.

This is absolutely right. We do see a continuous speeding-up not only of product development cycles but also of simultaneous trends. In my opinion, more and more companies can’t affort to spend their limited resources on products, their customers don’t want. I encourage everyone of my network to get in touch either with Julie or me. We invite everyone to run a pilot to easily compare our insights with current in-store sales. The only thing I regret so far is not to have joined Sustalytics earlier.

Sustalytics part of the first Google launchpad program outside of Silicon Valley

Identified as an emerging tech startup, Sustalytics was selected to take part in Google Launchpad program hosted for the first time outside of Silicon Valley.

Honored to have the opportunity to further scale our technology with the help and mentorship of the best of Google – its people, network, and advanced technologies.

 

Did you invest on the right print trend?

Test your own styles, colors, prints before buying

‘Major players are also leveraging advanced analytics to revolutionise the planning and production process.’

“The power of social media means trends are now more often established by consumers, as opposed to retailers and editors.

In an era of fast-changing preferences, being able to respond to shifting demand, and tailor production accordingly, makes a lot of sense.

Fashion is seeing the start of a seismic shift where products are “pulled” into the market based on actual demand rather than “pushed” based on best-guesses and forecasts.

The change is significant. Previously, procurement, production and distribution were predicated on designer and buyer predictions of future consumer demand. Products were produced and marketed in traditional “seasons.”

Under the “pull” dynamic, procurement, production and distribution are based on customer demand. 

 

The Business of Fashion, “The Year Ahead: Mass-Market Goes On-Demand”, 14 Jan 2019

https://www.businessoffashion.com/articles/intelligence/the-year-ahead-mass-market-goes-on-demand

Patagonia, profitable & sustainable

Patagonia is a leading retail fashion brand to follow.

They are setting the example when it comes to profitable & sustainable.

They have recently decided to invest the money they saved from tax-cuts into the environment.

As mentioned by the CEORose Marcario at UB Berkeley in April 2017, “Any time that we do something good for the environment, we make more money,”

Source: https://www.forbes.com/sites/angelauyeung/2018/11/29/patagonias-billionaire-founder-to-give-away-the-millions-his-company-saved-thanks-to-tax-cuts/#5aa3a0ad1d6f

 

Chat marketing and chatbots

Companies that are heavily investing in their digital accessibility and innovation will be the
winners going forward. Harvard Business Review conducted research on First Mover Advantage and found that companies that are forefront in adopting new technologies are more likely to lead in growth and marketing position than competitors that lag in embracing new technologies.

Companies that are already incorporating artificial intelligence into their marketing approaches are positioning themselves for success in the future.
Companies that invest in AI marketing software that integrates native consumer behaviors will have the highest ROIs. The incorporation of the marketing event into the natural experiences of the consumer authenticates the marketing experience and produces higher consumer conversion and retention rates.

Here are some AI technologies companies should be investing in now:

Chat Marketing
Digital marketing as a discipline is undergoing a revolution in terms of effectiveness and
intelligence. This revolution is characterized by the rise of chat marketing, meaning direct
marketing to customers on a one-to-one basis through their chat apps, namely SMS and
Facebook Messenger.

The potency of this marketing channel is immediately apparent in the data on conversion
and click through rates as compared to other marketing channels. In contrast to the
industry averages for email marketing, which typically has open rates of 20 percent and
click-through rates of 3 percent, chat marketing campaigns are achieving opening rates as
high as 88 percent and click-through rates of 56 percent.

 

Chatbots
Chatbots are AI-powered programs that can respond to user plain-text queries with
human-like responses. Consumers can interact with chatbots via SMS, text or messaging
apps, and companies are increasingly implementing them as part of their marketing and
customer service operations.

 

Dana Gibber is an expert in chatbot UX and UI, natural language processing and consumer
conversions and co-founder and COO of Headliner Labs, a chat marketing platform.

By Dana Gibber • 02/19/18 6:15am

The 3 Technologies Your Company Needs to Survive