Raising the bar with format innovation and integrated retail solutions
Earlier this year, US luxury retailer Saks Fifth Avenue raised the stakes by opening Saks Downtown Men’s store, a 16,000 square-foot space entirely dedicated to men´s categories.
Aaccording to a recent Ogilvy report, the menswear market is expected to grow 1.5 times faster than women’s fashion over the next year. So it is no wonder many retailers are taking a renewed interest in men’s fashion.
It is also an opportunity to show how the innovations Saks has invested in since 2012 are coming together and being used to deliver a more personalized and differentiated shopping experience
Saks’ Vision Relies on Integrated Technology
Unlike larger department stores where choices are endless and potential pitfalls abound, Saks offers men an expert-approved, fashion-forward selection of clothes selected from over 100 brands, so there’s no “wrong choice” in the store. Footwear, of course, is the clear choice for luring them in the door in the first place, conveniently located right on the ground floor.
Next, the store has placed more emphasis on in-store services which compliment their retail offerings, including its own in-store (and fashionably branded) coffee bar and barbershop, as well as leather and shoe repair services, made-to-measure suit services, and a technology bar selling all the latest gadgets.
Saks has also unveiled a 24/7 online tool which allows sales associates to create customizable saks.com boutique pages, where they can personally curate assortments of Saks merchandise and made accessible through a dedicated URL, allowing them more freedom to develop relationships with their customers.
Using Tech as a Springboard for Growth
From a technical standpoint, Saks implementing integrated and mobile technologies in order to achieve a seamless omnichannel experience and give them the platform to grow.
The investments by Saks’ parent company, Hudson Bay, in technologies which integrate the supply chain across their stores are also paying off more efficient order fulfillment, better use of space in distribution centers, and reduced expenses associated with growing digital sales. It also supports Saks Fifth Avenue plans for introducing Buy online, Pickup in store (BOPIS) options by Fall 2017.
How all retailers can raise the bar
Saks isn’t the only one raising the bar, with other menswear stores are a rising trend on the streets of New York. The emphasis on personalized styling services also seems to be working for the Trunk Club, a Nordstrom-owned retailer which just opened up its seventh location, an 18,000-sq.-ft. space in one of Boston’s trendiest neighborhoods.
And you don’t have to be Saks or Nordstrom to see the benefits of an integrated, mobile-ready technology platform for your business. Integrated retail solutions such as Openbravo Commerce Suite allow you to make good use of inventory management, promotions, locations, and customer data so that you can make that essential connection between online and offline retail. Utilizing the Cloud can boost efficiency and sales across stores even further.
For more information on how retailers benefit from moving to the Cloud, please register for our upcoming webinar Introduction to the Openbravo Commerce Cloud for Specialty Retailers on April 27, 2017 at 11:30 am CEST.