Shoppers ‘gamble’ when buying clothes online (Wired UK)


Romney Evans
Romney EvansNate Lanxon


“We have a discovery engine that helps consumers
find new brands new clothing that will flatter them so they can buy
with confidence,” says Romney Evans, introducing his company True
Fit on stage at
WIRED
Retail
.

Clothing is the one area of retail that many agree
is the most difficult to succesfully make work in the online world.
The inevitable fact that garments will arrive and not fit, or not
flatter means that people are often hesitant to commit, and when
they do there is high possibility that thy might not keep what they
ordered.

“We track billions of dollars of returns,” says
Evans. “There’s a confidence problem here. The current status
quo of discovering apparel or footwear is trial and error –
consumers are making a gamble every time they
purchase.”

Obviously there are brands that can become relied
upon over time for certain things, but so much of retail is
“powered by new”, points out Evans, and True Fit wants to be able
to instil confidence in people when they are considering investing
in fashion online. “There’s a hesitancy to make that purchase. So
many things have to got right and it’s not just fit — although
that is top of the list. We want to turn window shoppers into great
customers; turn those browsers into buyers.”

True Fit feeds its engine with three lots of
data. Brands give all the detailed product spec information about
the clothes; from the consumer the company gets information about
what their favourite items are; lastly it analyses an anonymised
set of transaction data. “We can trade on that data and get
smarter. We can start to see what goes into a successful
purchase.”

This is obviously helpful to consumers, but also to
retailers. True Fit is helping retailers to leverage and analyse a
lot big consumer data about shopping preferences and habits. What
the company is starting to see happen for those retailers, says
Evans, is “really exciting”. Retailers are seeing that confidence
consumers now reflected in their sales data. “Once they have a
profile and they’re getting highly personalised recommendations,
their conversion rate tends to go up around 300
percent.”

It has helped to instigate a 28 percent reduction in
return rates, and increase net incremental sales value by around
four percent on average. House of Fraser in the UK saw a six time
increase in conversion rate when it started to use the True Fit
engine. “We’re really seeing this take off. We’re now getting
around half a million new users every single month,” says
Evans.

True Fit has noticed that over time, people
buy fewer sizes in the same style and that users are interacting
and engaging in conversations about this with the company. It sees
itself as an enabler. “Brands and retailers are really great at
making their products desirable and we don’t want to get in the way
of that,” says Evans.

There are around 1,300 or 1,400 brands that
are doing this currently and from next year some of them will be
bringing the experience in store. “It takes the friction out of the
process both in store and on mobile.”

If the article suppose to have a video or a photo gallery and it does not appear on your screen, please Click Here

25 November 2014 | 12:30 pm – Source: wired.co.uk

[ad_2]

Leave a Reply

Your email address will not be published.