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.