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the market
How will digital disruption impact your customers?
Pace of innovation. It’s clear that technology is increasing the pace of fashion and this consequently is affecting the pace of innovation. By digital disruption consumers look for the newest and improved products, so a company must make sure they can offer a unique product because other companies may offer another one in not-so-distant horizon.
Increased competition. As James McQuivey explains, “Digital disruption accelerates competing ideas even as it facilitates the entry of a previously impossible number and magnitude of ideas. The cumulative effect is devastating to any company operating under the rules of the prior century.” Also, this competition has fight for the best and cheapest product
Personalization of interactions. Big data analytics enable marketers to send communications to a more targeted audience. Nowadays consumers welcome personalized offers, such as price-matching and loyalty points. Also, marketers make sure that apart from improving the quality of a product they are making them more appealing ti individual customers.
Speed of interactions. It’s clear that digital disruption has a direct connection with speed and nowadays as brands have their own website, customers expect real-time interaction with brands.
Integration. Brands must be integrated with digital technologies. There must be a cohesion between all marketing channels and platforms to make the brand a well known and trustful one.
What are the digital competences on the Spanish market like?
The retail sector is the most advanced when it comes to the implantation of digital supporters. According to the last ICEMD case study:
81% of the fashion companies in Spain already have their own website
71% also have mobile apps to develop their activity and to offer services and products to their clients. Also, companies of retails are the most advanced ones in cloud services as 76% of the companies already have them
Investment in digital projects and formation:
This case study revealed that 90% of the retail company heads do not receive periodic formation and do not feel up-to-date. So, a 95% of the retail questioned companies declared that they were going to invest in digital projects and a 37% of the retail sector were going to invest in the digital formation sector.
Spain in numbers
In Spain 23.643 million euros were spent on clothes in 2014, almost half of it was women’ clothes, the 30% men’ clothes and a 20% kids clothes.
The basques, Navarra and Catalunya are the ones that more consume.
And in a world wide scale? Spain occupies a medium zone and consumes a 2,31% of the total textile products. The countries that more consume are USA (246.768 million euros) and China (243.769 million euros.
