It’s not easy being an eCommerce retailer. It seems there’s always a new online shopping holiday to get ready for and it can be difficult to keep up. We’ve all heard of Black Friday and Cyber Monday, but do you have a strategy in place for some of the lesser-known eCommerce events?
According to the 2016 BoF-McKinsey Global Fashion Survey, executives named ‘volatility, uncertainty and shifts in the global economy’ as the biggest challenges they were facing in the digital fashion industry. However, the outlook is far from doom and gloom. From 2016 to 2020, online retail sales worldwide are expected to more than double from $1.9 trillion to over $4 trillion.
As eCommerce boomed in the early 2000s, crowds of clothing brands rushed to take advantage of this unprecedented revenue stream. However, there was one clothing sector that showed much less excitement for online shopping – luxury clothing brands.
In 1900, John Watkins predicted the birth of the mobile phone, digital photography and television. Whilst these revolutionary claims came true, many others haven’t been blessed with such accurate foresight. This blog will reveal seven of these tech predictions that were excessively optimistic, misguided and positively wrong.
2016 isn’t only the year of the monkey – it’s also set to be the year of online clothing in the UK as the digital fashion industry prepares to rise. By the end of the year, this sector is expected to become the UK’s largest online market.