The Analytics of Fashion
The development of these types of e-tailers has greatly upped the popularity of online shopping. Not only is merchandise offered at discounted prices as soon as the sale opens on the site, but everything is divided into categories by individual brand, gender, personal style, lifestyle, age, and even price range. With the anticipation of designer deals and limited quantities of popular brands, a diverse market of consumers, myself included, are lured to visit these e-shops frequently as part of their daily routine.
Trends and forecasting research are integral parts of the fashion industry, but aside from spend and purchasing information gathered from site activity and purchase history, how do company buyers choose which sales to run and what product to push each week? By analyzing purchase behavior, past trends, and using forecasting tools to choose their products. Stylitics, a behavioral analytics tool disguised as an online haven for fashion-focused consumers, could provide in-depth information about consumers’ personal tastes, styles, and purchases, and act as an additional tool for understanding the fashion-conscious consumer.
When I first read about Stylitics, I was immediately intrigued. After creating an account, I had instant access to my own personal style organization tool! I could add upcoming events and parties to a calendar, plan outfits based on the current weather here in New Orleans, and even search the web for articles of clothing I wore over the past few days in order to build my “virtual closet”. Basically, I discovered that this website can save me the trouble of laying outfits out on my bed the night before the workday or even the night before a vacation, and instead, plan out full outfits using this tool. (I can also post and brag to the Stylitics community about any new fashion pieces or accessories that I’ve bought and worn recently!) The best part, just by using the site and adding new content, you rack up points and perks from different fashion brands.
While Stylitics has changed my outfit planning ways, it could also, more importantly, change the game for market research in the fashion industry. This application provides an alternative option to focus groups or other traditional research methods by creating an active panel of consumers willingly giving insights. Stylitics is an interactive platform of fashion-conscious users logging their outfits for work, social outings, running errands, and even trips to the gym, all on a daily basis. With thousands of users daily adding information about their personal fashion habits with brand names and style numbers attached, retailers and other businesses are able to see this real-time data of preferences, desires, and purchase behavior.
For market researchers, Stylitics could potentially be used as a supplemental tool to traditional research methods by providing additional insights surrounding fashion-conscious consumers’ preferences and spend while still capturing insights from quantitative online surveys, in-store iPad intercepts in the retail space, or focus groups.
For fashion-focused consumers and for research in the fashion industry, could Stylitics be the next big thing, or is it just another passing trend?
Aja Hite, Account Executive