The discussion centered on how brands can maximize the use of connected products and technology to leverage data and learn from their consumers emotions, as well as their purchasing behaviors. Having access to key consumer data will facilitate brands to deliver personalized experiences to consumers, leading to increased sales and a stronger connection with their audience, as the report mentions.
Uri Minkoff discussed the launch of the #AlwaysOn products, which leverage DEQ to further engage with consumers: "We are constantly looking for ways of how the fashion system doesn’t make sense and how we can change it for a more modernized culture and consumer,” Minkoff said. “We are here today because there is this beautiful thing called IoT that fashion hasn’t taken advantage of.”
Connecting products to the digital world enables a whole new realm of conversations between brands and their consumers. Andy Hobsbawm explained that “good personalization is emotional and powerful. If someone feels the brand cares about them and knows them, it’s an emotional experience.”
Retail has never seen such a competitive marketplace as we are seeing today and it has become clear that digitally savvy brands are ultimately positioned to win. Bill Toney highlighted that “brands now have the ability to make changes a lot faster on the manufacturing side and being able to learn more and more about the consumer on an emotional level is a truly powerful thing.”
At this critical moment for our industry, insights into how to use this digital shift to your advantage can be a key differentiator. Industry leaders are already using technology like RFID to give consumers the ability to buy how they want and when. The next level in engagement is to leverage this unique digital identity as a differentiator to drive deep emotional connection between the brand and the individual to truly personalize every interaction. As brands adopt DEQ in their business models, they can truly understand the wants and needs of their consumers, resulting in increased brand loyalty and ultimately sales.
Read headlines from the report launch.