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“Apple and IBM, once an unlikely duo, teamed up back in July to create business apps for iPhones and iPads. Now, this union has produced the first wave of these biz-centric tools, aimed at retailers, financial institutions, telecommunications services, insurance companies, airlines, and governments.”

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Decoded Fashion - Fashion Tech Daily

 

Decoded Fashion - Weekly stories - Black Friday
Image source: thetimes.co.uk

The Black Friday shopping weekend saw 133.7 million people make purchases in-store and online over the four-day holiday weekend kicked off by Thanksgiving last week. Total revenue for the shopping weekend is expected to fall 11 per cent to $50.9 billion from $57.4 billion last year, according to the National Retail Federation’s projections.

Many shoppers took advantage of pre Black Friday sales like Amazon, who saw a 26, 24, and 46 per cent increase in sales on Thanksgiving, Black Friday and Cyber Saturday, starting its special offers a week early. Research group, ShopperTrak reported that the early introduction of promotions increased retailer traffic on Thanksgiving Day by 27.3 per cent, but reduced Black Friday’s by 5.6 per cent. Analytics firm, Retail Next found similar results and estimated in-store traffic levels fell by 12.5 per cent, and sales were down by 10.3 per cent over the weekend due to the early introduction of promotions.

Tiffany & Co., Dollar Tree Inc. and T.J. Maxx are among the brands that chose not to promote Black Friday deals in the US. Whilst in the UK, Harvey Nichols, Selfridges, Harrods and Liberty also opted-out, unlike British retailers House of Fraser and John Lewis. Instead, they created smaller promotions outside of the Black Friday banner, preferring to hold off until Boxing Day for their big sale.

Despite retailers choosing not to participate, Visa estimated that £300,000 ($568,000) was spent every minute in the UK and it expects to process 8.5 million British online transactions during the Black Friday and Cyber Monday period. Kevin Jenkins, Visa’s managing director for the UK and Ireland, said: “Black Friday has become the UK’s biggest online shopping day and we’re forecasting £518 million to be spent this year.”

Mobile was a major revenue driver for retailers this year, especially for players like Amazon and Ebay who saw up to 57% of their total traffic come from a mobile device. IBM reported that nearly 47 per cent of total online traffic came from mobile devices throughout the shopping weekend, an increase of 20 per cent from last year. The world’s largest retailer by sales, Walmart, reported that mobile was responsible for more than 70 per cent of their total online traffic during the Black Friday weekend. Apple iOS users remain to be the most valuable customers to retailers with an average basket size of $127.34 and accounting for 20.2 per cent of total online sales.

Reported by Jessica Anuna

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“No retailers in Europe are able to deliver a complete omni-channel experience and they all have to work a lot harder on in-store, mobile and delivery offerings to come close, warns a pan-European omni-channel capability study carried out by IBM.”

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Decoded Fashion - Fashion Tech Daily - Europe Omni-Channel
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“IBM is providing its Watson artificial intelligence technology for Fluid’s personal shopper app, which apparel brand The North Face has been testing as a way to answer shopper questions and provide recommendations.”

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Decoded Fashion - Fashion Tech Daily - IBM

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The past two weeks have seen the launch of two new cities in our Meetup series, first we headed to Dublin and then to Berlin. Both events were sold out and we had a great lineup of speakers giving us insight into these vibrant communities.

In Dublin, we were hosted by the Wayra Academy and Sonya Lennon, founder of Frockadvisor. The event kicked off with a panel discussion on ‘Globalisation versus Localisation,’ featuring speakers Rory Caren, IBM, IDR Marketing and Academic Manager, and Fidelma Healy, COO of Gilt Ireland. Caren highlighted that IBM place much importance on analytics and big data, and that retail challenges can only be solved by working with small startups. Healy in turn revealed that the biggest challenge for online apparel sales is getting over issues of fit and sizing. The panel was then followed by startup showcases by 365 Looks, Storpal and Frockadvisor.

Check out video coverage here.

Next up: uber cool Berlin at a new campus for startups and the soon-to-be home of SoundCloud, Factory. We had a mix of speakers from all over Germany; Stylight, Amazine, Parasol Island, Bragi and DGAG. Bragi introduced their multifunctional headphones – they have received a massive $3,390,551 on kickstarter for this project. Stylight explained their concept of using style influencers such as bloggers to inspire consumers and push sales, revealing big expansion plans as they head to the US. The founder of Amazine unveiled their B2B offering using shoppable content. Miki Devic closed with his 3D technology, something he passionately discussed becoming integrated into everyday life, with huge potential to enhancing fashion and retails. Not to mention his DGAG 3D-Selfie software, which has already been used to create full-size 3D-avatars of Cristiano Ronaldo

Further coverage of the event can be found here.

We would like to take this opportunity to say a big THANK YOU to everyone who attended and to all the speakers, hosts, and partners. Stay tuned for the next city!

Reported By Anna Abrell