While the pandemic has hit the economy, the silver lining has opened up tremendous opportunities in retail. E-commerce technology has helped luxury fashion brands adopt new platforms to make business models easier, faster and safer. Moreover, it has helped brands and consumers share their ideas seamlessly. However, the rise of personalization in the online marketplace has helped luxury and personal accessory brands open up unexplored opportunities and bring something unique to their customers. Personalized shoe designs, personalization portals, work in the same direction and enable the use of the power of personalization with respect to digitization. Bespoke solutions allow brands to create the latest trends and help shoppers create their own pair of funky shoes.

Tailor-made shoes help brands cope with the COVID-19 crisis

Today, fashion brands are pursuing many strategies to get out of the noise and get the attention of shoppers. In a crowded place like the shoe industry, stakeholders need to find solutions to ensure their business continuity and face stiff competition. In fact, business-to-business (B2B) e-commerce, which is still in its infancy, offers many possibilities for this reason. Globally, merchandise is worth more than $120 trillion per year, and less than 10 percent of it is traded online. 30% should be achieved in the next three years. B2B buyers have high expectations and more complex needs, although the slow transition to online marketplaces is not due to a lack of technology alone. Historically weak demand from older and smaller companies was another key factor in system development.

In addition, many commercial companies that were originally run by older entrepreneurs are seeing a change in the way they operate and run their businesses. They easily understand the digital curve and accept help or pass control from/to the younger generation. Statistics show that currently 44% of Millennials choose to buy B2B. These numbers support the idea that the transition to an online business with digital technology is more important than ever.

In addition, many new brands, including Kane Footwear, are great examples of the growing demand and startup community. By combining personal experience with passion and determination, Kanes offers successful entrepreneurs early lessons on the path to building an effective business. Today it is more about creating ecological products that are better than aesthetic products. And all these changes are only possible if the brand takes the unique opportunity to combine advanced functionality with design and sales processes. Examples of these processes are personalized orders, customer quotes, invoicing, automated purchases, full load shipping management and complex logistics and integrated financial services such as warranty, insurance and factoring. Many companies are developing this function to streamline processes for buyers and suppliers.

Custom shoes on the internet are an example of bridging the gap and enabling brands to get the best of both worlds viz. H. digital technology in the business model, with easy-to-use production. This tool guarantees customers the freedom to design their favorite pair of shoes and view them using 3D technology. With the help of this software, customers can adjust their preferred shoe in various predefined shoe positions, as well as select fabrics and select available colors for customization.

From the facts and figures above, it is clear that the future of retail lies in technology and brands need to keep up with the changing dynamics and be better positioned to face the upcoming changes. However, this is the right time to invest in technology and face the wave of digital change. Let's take a look at the various ways portals open for brands to experiment with their business models using digital technology.

Here are some ways brands are using digital solutions to thrive in the footwear industry:

· Touching social commerce

Social media and its business model are not just words; They have become a trend for doing business. E-commerce is growing exponentially, changing the process of brand design and sales. In fact, research estimates online sales will exceed $735 billion by 2023 as 81% of consumers search Instagram and Facebook for products to purchase, making both channels great reference points for shopping. The facts show that this new model goes beyond services to allow increased traffic to traditional distribution channels. Instead, they are now helping brands bring new shopping experiences to their shoppers, from viewing to paying. Older methods of getting traffic, such as websites and apps, are not attracting many new customers as they have turned to social media apps to browse various collections. Easier to use and more affordable, the new platform offers more secure payment options rarely found on older models.

The growth of social commerce is likely due to the fact that it benefits both consumers and brands: social commerce significantly shortens consumers' journey to purchase, allows them to take action as soon as they see an advertised product, and eliminates it accordingly. helps web characters in the app download process as well as reduces common branding issues like abandoned shopping carts.

· Resale market promotion

Sustainability is not a new concept. We have heard for centuries that the luxury fashion industry is the biggest contributor to the destruction of the planet and to climate change. For some time it was felt that all these accusations and complaints remained deaf, but to everyone's surprise they were not. Some luxury brands make a strong case for dealing with dangerous situations. Meanwhile, online retail has become a blessing in disguise for brands that makes it easy for them to realize their dreams.

The concepts of "resale" and "sustainability" that seemed far from reality are now possible. Online platforms like eBay have made it easier for buyers and sellers to find and make transactions. Recently, leading digital domestic brands including Poshmark, thredUP, StockX and The RealReal further legalized the used market while the giant Kering invested in Vestiar Collective earlier this year. LVMH's titanium counterpart remains aloof for now. In addition, growing buyer awareness of brand value, attitude towards nature, CSR and other factors have contributed to a more successful resale market.

Summing up:

Yes, it is understandable that advances in digital technology can be complicated, but it is also important for brands to recognize that this is the future of fashion. Although the pace may seem slow, it is improving rapidly and will eventually adopt a centuries-old business model. We will see supply chains fully digitized in the coming days to make running and starting a business easier and cheaper. Luxury homes that fail to recognize the growing importance of digital technology in e-commerce will fall. It's also true that sticking with changing customer needs is scary, but it's a one-time effort and will help the brand generate more profits in the future. iDesigniBuy’s shoe design software enable brands to meet these needs and help them thrive in the future of retail business.

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Author's Bio: 

Vivek Ghai has over 18 years of experience in the software services industry. He is the founder of a software company specializing in web and mobile application development. He has hands-on experience in operations, digital and ecommerce, digital marketing and business development in the technology industry. He advises start-ups and also is a technical co-founder for a few of them.