Connects fashion, luxury with business they're not an agency but create a product you can log into. People want immediacy, especially with fashion.
Everyone should know how the business is trading.
What would you do with the data available?
Check price points, popularity of drops, comp shop - compare your competitors. Real time market analysis. Buzz can see what people are talking about by who clicks on fan like and how many. Useful for trends.
Snap shots of web pages to see communication spread through channels such as newsletters, web changes and online visual merchandising.
Everyone is shopping internationally and this should be aligned.
Hyperlocal Tuning things for your customer in a local way. Hyper custom Knowing your customer
The future of EDITD
Real time feed interface source a product then relate back to previous and current trends, Including runway pictures, colour and even related products. External factors like weather or climate.
Ethical issues on obtaining data, either the client enters data into product or Editd search through the likes of google analytics.
How do you create innovation without taking that risk? Just making it more relevant to your local market. If you put something on the net it's out there for the taking. Editd have made information more fashion business relevant.
Should be concerned with not what the global market is doing but to be competitive on the international market.
Alan Treadgold, Leo Burnett Group
Retail re imagined : shopper engagement in a multichannel world.
Shopping is no longer prescriptive. Almost everyone is a multi channel shopper. These channels have emerged fast. Shoppers need to be able to move seamlessly between channels. Returning to the store on their terms. Mobile commerce is connecting and blurring the experience.
Physical stores need to be re imagined; great spaces will succeed. Fewer, better stores and treating every store as a flagship and asset. Win through localising the experience.
Harness the social, people are far less trusting in institutions and traditional media. Engagement in peers they trust is more common. Era of transparency nowhere to hide pricing. CSR is still a major concern of shoppers. Factoring in the cost and message.
There is a mass problem with high St real estate vacancy, one solution is to bring back affordable living for Gen Y in these areas.
29 's & under the most influential consumer group. Understanding the phsysicology to succeed. Gen x are starting to adopt gen y characteristics through technology. The integration with the consumer has to be meaningful and accessible
Technology has to be able to facilitate the experience not be the experience. By 2020 the web will account for 68% of transactions as shown by UK research. Content online needs to be rich to work, especially for fashion. Not just flat images.
Australia is a sophisticated and educated market.
How do you make stores like ecommerce? produce a multi channel by integrating all facets of business and removing all barriers.
Fast delivery and logistics, customers expect this. Pioneering fast logistics. 90 minute delivery - record in central London is 15 mins
If it's available anywhere it's available everywhere
Data basing, history readily available for staff and integrating with technology to create a new customer journey, they need to be able to tell you what journey they want.
Embrace Omni channel - mash up and stores and e - commerce. Strong own brands will prevent the incursion of pure play etailers.
Innovate in order to differentiate
Timothy J Coghlan, Property Group CHINA Founder Maosuit.com
China & Fashion Explosive growth & opportunities for Entry
The new consumer is digitally savvy, 7 incomes and well educated. Flagship stores and malls for shopping plus online in all key cities.
2015 is going to be biggest luxury market 18% growth, 520 million shopping on e commerce. H&M 75 stores LV 35 stores.
Branding Holding biggest global events for store openings and creating press and exposure. Real estate size Gucci needs extra floors just for out of home advertising.
Chinese microblog Weibo equivelent of blogpress. Western social media has it's own Chinese equivalent due to media restrictions.
Uma Wang & Xander Zhou up & coming designers placed in unique designer stores.
There are many barriers getting into China, logistics, language, legal framework etc. Service providers are in high demand. Australian brands don't have a recognisable presence, pretty much all LVHM, PPR brands mixed with the likes of H&M.
The infrastructure of the brands are there but no real emphasis on customer service and training which is behind.
In terms of business ethics there may be the need to provide "lunch or holiday"money to get press or seal deals.
Starting a successful fashion business involves investing much more than dollars, creativity and design. We are entering an era where designers need to realise there's a need to be business savvy to survive.
Andreas Klinger from Lookk.com a platform for designers to enter the market by online start up which creates the essential online tools, look books, pop up stores -short sales & Pre order stores for labels and designers.
He explained that today fashion is all of the sudden to slow in an over saturated market. Everything needs to move at a faster rate, from production to communication. The next generation of consumers expect immediacy. Social media, Internet communication will eventually take over from the likes of Fashion weeks. Emerging designers are still playing the old game and trying to just raise interest from buyers and press but the reality is the consumer is far more important than ever. They need to know the customer, everybody fails because you don't have a market. Designers need to become entrepreneurs as well as creative artists. Understanding that the brand has to match the product.
George Svinos - KPMG
A Business plan is important from the start to help capture that imagination. Implement a plan to avoid obstacles, keeping honest to a plan or foundation. Evolve the plan along the way as you interact with your stakeholders remembering the end goal doesn't change.
Q & A & audience discussion.
Q. Why should a designer take an investor on? A. George "To become part of your business as long as the investor is bringing real value and worth to the business."
Kirrily Johnston on starting her label, would she doing anything differently? In the beginning there wasn't social media, you need to be tenacious and smart about who you go to about business advice.
Don't worry about investors too early. Andreas Klinger
Think about investment partnerships as a marriage where time, expertise and money can form a powerful relationship or ugly divorce.
Daniel Bryant - PPD Advisory
Signs of stress can be picked up to 12 months before trouble it could be missing an order or late paying of suppliers. Fashion mistakes could also mean under estimating business and expanding too early in unfamiliar waters.
In summary no matter what area of fashion we work in we have to be more business savvy, respect and be mindful of relationships we invest in and have a sound plan. The future will be more fast paced and even more reliant on new media to reach target consumers and stakeholders.
I've never been to a runway show where accessory's were the main focus and identity and wasn't quiet sure if it could be pulled off. With Mimco one of Australia's most lavished accessory brands I hoped it would be a more polished show. The models look was styled between dark and rough edged to balance the sparkly bling and soft leather and print bags. The pacing was hard and fast, a little too fast for my liking, even with the extra time on the runway. None of the models took the fade at the end of each section. Like any good punctuation you need a full stop before you start again for the language to work. There's only so much you can do with an accessory show without been too repetitive and a model can only carry so many bags without looking uncomfortable. A good show never the less it just needed to be as polished as some of the necklaces.