STORES ARE CLOSED. WHAT TO DO NOW?

 There is a lot of discussions about the future of fashion retail. And the most important topic is "new client experience" the stores need to create to bring shoppers back after the epidemic is over.

For Department stores, the crisis creates new opportunities- now. Clients are discovering new channels of communications and it's very important for retailers to use it for future connections. Currently, all the customers are staying home, and they spend more (much more) time online for work and for fun. 

It leads to the fact that spending time on a long content (1 hour and up) on Youtube, for example, tripled in the last month. If you look at Museum's free lectures, often about one object, painting, or sculpture, you can see that such a video collects thousands of views in one day. In addition to gaining a new audience, the large players currently can get a better advertising boost; smaller ones are not investing in marketing. Youtube is the better option than other platforms (like Instagram) because of the ability to scale and a more comfortable interface. 

What do we have now? Simple.

The customer is at home on a rainy Friday afternoon. Wants to watch some Youtube, likes fashion, search her/his favorite department store.

A lot of content: article after article about how difficult the fashion market is and what the store is planning to do after a pandemic is over, meaning selling out the current stock. Clients feel bad for the store but decide to wait until the markdowns.

Why customers had this search? Because they were ready to watch interesting fashion content they have never had an opportunity to do before. And? Nothing.

 During the regular time, Department stores just don't have the time and resources to educate clients and sales associates about every single brand in the store. In my experience, very often stores discover and start carrying the small, very interesting brands, but because the brands are very young, there is no ability to visit every store to do product knowledge meeting, they get lost in department's store's assortment and as a result - exit in 2 seasons. Only establish brands are staying, making shopping in DS very predictable.  This is a perfect moment to spend on educating clients and getting them excited about designers. Excitement creates unbelievable results.

The number of topics is endless:

1. Man's business is growing in double digits. How Japanese street fashion has exhilarated this growth? (A lot of stores have Japanese man's designers in stock).

2. Danish fashion brands are the best-kept secret. Why? (many brands are present in the US department stores).

3. Why Akris' pair of pants cost $900 dollars? Trust me, after the presentation stores would sell out every single unit. (I would love to do this presentation:))

I can go forever.