In this vlog, Peak's Head of Retail Mylo Portas sums up how he believes fashion brands can be successful in the modern era, and the ways that AI can help this process. He discusses three key points that are critical to success in the fashion industry, and how AI can drive value in these areas…
The fact that companies now have ‘more data than ever,’ allows your business to hyper-personalise your customers’ experience of your fashion brand, by engaging that customer with the content that matters to them, in their preferred format.
2) Being able to respond to changes and trends that are driven by the customer
This is all about adaptation, and being able to react to fashion trends by getting the right product to the right location, in front of the right person at the right time. The only way to do this effectively and efficiently enough is using AI thanks to its predictive capabilities.
Here, Mylo runs through how it is easy for a fashion company ’s supply chain to become very complex very quickly. However, using AI, this complexity can be reduced through more intelligent inventory management and forecasting techniques. This can help to reduce wastage and allows you to portray your business as one that has a clear focus on sustainability – which is increasingly-demanded by modern customers.
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