Lectra & ESCP discuss uses of customer data in fashion

 

Lectra, a leader in integrated technology solutions dedicated to industries using fabrics, leather, technical textiles and composite materials, the French business school ESCP Europe, and their joint 'Fashion & Technology' Chair, discussed the use of customer data in fashion industry, at a round table event during the fifth Fashion Tech Week in Paris.

Elise Beuriot, Sr Category Leader, EU Luggage, Amazon, Olivier Dancot, VP of data, Lectra, Fabrizio Fantini, founder and CEO, Evo Pricing, and Gulnaz Khusainova, founder and CEO, Easysize, agreed straight away on one key point: the analysis of customer data lends itself to limitless applications along the entire fashion value chain. Its impact is immense, whether in terms of customer satisfaction, competitiveness, revenues, or waste limitation.

Elise Beuriot said, “As early as the design phase, a wealth of data offers many sources of inspiration for stylists. For teams in charge of collections, complex models allow the analysis of data like online traffic and purchase history in order to design and offer the products that consumers expect, which is a priority for a company obsessed by the customer, like Amazon. Decisions based on data trigger millions of orders. The impact on the inventory is enormous.”

Fabrizio Fantini said, “Fashion is an industry where unsold items generate a lot of waste. Algorithms and big data analysis can reduce left-overs by anticipating demand several weeks ahead in order to optimise the price and replenishment. Fashion companies who exploit data to inform their decisions become more efficient. They are better armed to protect their margins, but can also sell for less, and potentially reach a larger number of consumers.”

Gulnaz Khusainova said, “Other IT models aggregate customer data in real time to determine, among hundreds of factors, those which have the biggest influence on buying decisions. Value doesn't necessarily lie in the volume of data but in the depth of the analyses. Easysize is careful that collected data is anonymous, because consumers need to keep control of their data, and know how it is used.”

Olivier Dancot said, “For editors of software dedicated to fashion businesses, and suppliers of cutting machines designed for the clothing industry analysing usage data from our solutions enables the offer to evolve, making each step in the value chain more efficient and perfectly adapted to the needs of the brands, retailers and manufacturers. What is at stake is better quality products, placed on the market as quickly as possible and at a reduced cost.” 

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