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Reinventing Retail

Portrait of Richard Federowski
Partner
Berlin Office, Central Europe
+49 30 39927-3495
March 6, 2017

Stationary fashion retailers are not meeting their customer's needs according to our recent study Reinventing Retail. This is just one of the contributing factors in the ever increasing trend towards online shopping.

More than 5000 people were surveyed for the study, with almost one fifth revealing they turn to the internet when it comes to shopping for the latest fashions. Furthermore, at least half of shoppers say their needs are not being met by visiting physical stores to make their purchases. At least one in ten stationary shoppers indicated they plan to do more of their shopping online in the near future.

It is clear good service has not lost its shine, with 62 percent of shoppers saying they have on at least one occasion spontaneously spent more than they had planned, after receiving friendly and helpful service in a store.

The study reveals five insights into the digital change:

  • Fashion retailers are increasingly moving online.
  • Customers are unhappy with the service they receive in store.
  • Mono-label traders are more affected by online migration.
  • There is no one answer to online, each market segment and purchase has specific expectations.
  • Digital enablers are receiving great interest, especially when it comes to innovative payment systems and multi-channel delivery options.

As the trend towards online shopping grows ever stronger, it is important that the stationary answer to online takes into account the differing customer needs in various market segments.

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Study

Reinventing Retail

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Stationary fashion retailers are not meeting their customer's needs according to our recent study Reinventing Retail.

Published March 2017. Available in
  • Photos filadendron / iStockphoto