Social media and digital technology have forever changed the retail industry. In 2011, brands and retailers have reached a tipping point, digital innovations have decentralized commerce, and real-time consumer demand for designer merchandise has forever changed retail production cycles.
Many fashion brands, mocked for their inability to move with the web because of a fear of accessibility, are no longer fighting the flow. Through their embrace of social media and social commerce, fashion brands are now innovating and profiting from their online marketing strategies. Luxury and premium brands are starting to lead the way for all retailers looking to connect with their customers and build online revenue channels.
Fashion Brands and Social Commerce
In order to understand just how far fashion has come in the past few years, I spoke with James Gardner, CEO of CreateTheGroup, a New York-based digital firm that has established itself as a leader and pioneer in the fashion and luxury retail segments. Gardner said that "In 2010, we saw an explosion of experimentation in social media. Luxury brands earned an immediate connection with consumers through streaming runway shows and creating Facebook and Twitter personas. In 2011, luxury brands will be looking at how to capitalize on this immediate interface with consumers by connecting social media to digital commerce."
Online shopping is becoming a socially connected event. As shoppers discover new products and reflect on their purchases, they are increasingly sharing their thoughts with their social networks and influencing perception among...
