Clothing companies can’t seem to please customers lately. Consumers are spending half as much as they once did and are sick and tired of retailers’ tired omnichannel offerings.
But clothing companies aren’t alone in their struggles. Recently, retailers the world over have had to supercharge their stores, websites and mobile apps with features customers crave in order to compete in the omnichannel age. If they don’t, companies of all sizes risk being left in the digital dust.
In the March edition of the Omni Developer Report, PYMNTS explores the latest developments in the software space, including headlines on new omnichannel tech and strategies in the retail realm.
Around the Omni Developer World
The list of companies making forays in the digital world now include brick-and-mortar retail giants like Target.
The company is investing in renovating its larger stores, opening smaller locations and issuing updates to its mobile app. In a recent interview, the company’s CEO, Brian Cornell, said the moves are part of a strategy centered on striking the right balance between digital and physical offerings.
Meanwhile, others hope taking cues from Amazon will pay off.
Four Square, a chain of New Zealand grocery stores owned by retail group Foodstuffs, recently unveiled a checkout-free grocery store near Auckland styled after Amazon’s cashierless store, Amazon Go. The store is currently in a trial phase, but the company plans to roll out the SMARTCART computer vision technology by tech company IMAGR to more of its stores in 2019.
To find the rest of the latest payments news, as well as the biggest headlines from around the space, check out the Tracker’s News and Trends section.
How Frank and Oak Offers a Tailored-to-Fit Experience
Clothing sellers are having trouble meeting rising customer expectations, PYMNTS research has found.
According to the latest Omni Usage Index™, consumers are unhappy with clothing companies’ capabilities, giving apparel and accessories retailers an average satisfaction score of just 37.9 out of 100. But some are looking to buck this trend, including Frank And Oak, a Canadian clothing company that has woven omnichannel into its offerings since its founding in Feb. 2012.
In a recent interview, Ethan Song, Frank And Oak’s founder and CEO, told PYMNTS that has often meant providing online shoppers with the types of personalized recommendations they typically only receive from store associates, as well as giving in-store shoppers access to mobile and online-based features.
“We’ve found our customers have busy lives, and they need help or want help finding high-quality products, [and] fast,” Song said. “So, anything we can do to help them find those products can be a great value to both us and our customers.”
About the Report
The Omni Developer Report™, a Vantiv collaboration, is designed to provide the payments ecosystem with a view into how software developers are using new technologies to create innovative business opportunities and enable merchants to optimize the ways in which they engage with shoppers today. The developer community within the report is separated into three categories: Shopping and Payments, Operations and Marketing.
The report also features the latest news and highlights about influential developers, along with a directory with information on key providers, their capabilities and a score for each firm.
We’re always on the lookout for opportunities to partner with innovators and disruptors.
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