First Impressions Count, Don’t Waste Them.
Integrating fit technology into a brand’s eCommerce platform can elevate the online shopping experience, reduce returns, increase conversions and help the brand stand out in a crowded marketplace.
It’s boomtown for fashion eCommerce. This sector makes up nearly half of all purchases being conducted online and it is continuing to grow. According to Mediapost, the U.S. alone has witnessed an 11% increase in online sales of apparel and accessories in the past year. However, despite the accelerated growth, which accounts for roughly 20.4 percent of the total fashion retail sales in the United States, fit is proving to be a serious hurdle to getting potential customers to convert into loyal ones, especially for apparel start-ups and SMEs that need to distinguish themselves in a crowded space.
For the online fashion industry, fit technology is invaluable. Disappointed customers tend to hurt the bottom line. NewVoiceMedia cites that it takes just one negative experience for 51% of customers to never do business with that company again. It is essential for brands to be able to clearly communicate best-fit options digitally to their customers and this is where fit technology can help.
“For some brands, return rates end up being as high as 50%, with 80% being due to fit issues. Fit-related returns can cost a company up to 40% of conversions and have an immensely negative impact on brand perception.” Says Daina Burnes, the co-founder of Bold Metrics.
In fact, only 14% of customers find size charts helpful and 67% of shoppers believe that retailers should be providing more support online to help find them their fit, according to a recent survey conducted by MyTotalRetail. By incorporating the right fit technology, a brand can make the customer experience not just seamless, but also exceptional. Machine learning technologies, such as those employed at Bold Metrics, use algorithms and big data to output more than 50 highly accurate measurements of individual customers after they answer four to six easy questions. No measuring tapes or scanners (or awkward selfies) are required, making it a scalable fit solution that is also low friction.
Fit technology also has the power to create a more personalized shopping experience, both in-store and online. Companies that leverage this technology are able to go one step further in ensuring that the customer is connected with their desired size, in their preferred fit, fostering a positive brand perception. A Walker study found that by the year 2020, customer experience will overtake price and product as the key brand differentiator. Looks like there’s no time to lose.