Big Data and Luxury Fashion - Monaco Symposium on Luxury

Big Data and Luxury Fashion
Using big data to strategically understand, defend
and penetrate each country market
By Jade Huang, CEO, & Robert Figiel, CTO, StyleSage USA
Work Smarter
Jade Huang, CEO | [email protected] | www.stylesage.co
What We Will Cover Today
• Introductions
• Brief Industry Landscape View
• Data Types
• Using Data in Live Action
• Case Studies
• Questions
Is a visual data analytics platform that
makes retailers and brands smarter and faster in:
 International expansion
 Line planning
 In-season steering
INDUSTRY RECOGNITION
78%
Offline shoppers conduct
ONLINE research
Before purchase
Fashion = fastest growing
e-Commerce segment
“What is not working is the
fact that there is
no relationship between
the creative vision and the
commercial vision.”
- Demna Gvasalia
Artistic Director, Balenciaga
Head Designer, Vetements
MARKET DATA COLLECTION TODAY
1,000+
Retailers
100+
100M+
Products Countries
Visual, Easy to Use,
and Fully Automated
With our proprietary technology and machine learning,
StyleSage collects, normalizes, and visualizes
eCommerce data daily
Case Studies in Live Action
International Expansion
Line Planning
In-Season Steering
Understand international price
& assortment to adapt to local
consumer preference.
Understand competitor line
plans to validate their
own line plan.
Understand current trends
and market movements to
react quickly.
Impact
Impact
Increase topline revenue.
Launch new businesses and
grow existing market share.
Increase sales. Develop the
right products at the
right price.
Discounted
Full Price
Impact
Maintain margin to
maximize profits. Never
discount too early or miss
out on promotions.
Global SKU Counts/Overlaps
Understand Competitor Differentiation + Reassess Own Global Strategy
• Understand countryspecific markups and
assortments
Global Price Index Deep Dive on Each Competitor
Price Architecture Across Competitor Categories
Evaluate competition and merchandise price positioning in each category
Break down SKU offering by price intervals to compare against your own range
View of Discount Structure Across Channels
Evaluate each competitor channel’s discount strategy and
how it may impact own eCommerce performance.
Competitor Brand Color Saturation
Reveals Design Direction & Strategy
• DVF offers a wider assortment of color over the other brands combined.
• Each color breaks down by # of SKUs and % overall it represents
Price Driving Attributes
Impact Design Decisions in Line Plans
• Drill down on any chart for
visual representations
and product
performance
• Understand price driving
attributes that impact
Plan Your Discount Cadence Across Season
With Confidence
MANAGE YOUR BRAND.
WORK SMARTER.
INCREASE SALES.
Jade Huang | CEO | [email protected]
Data Types
Internal
• Point of Sale
• Customer Relationship
Management (CRM)
• Website Traffic + Own Digital
Channel Traffic + Mobile/Apps
• Inventory
• Marketing Spend
• Allocation
• Cost
External
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Comp Shopping
Market Research/Trend Reports
Socioeconomic
Social Media
Weather
Press, Magazines, Blogs
Google Search / Adwords
Public Financial Statements
Coupons
Demographic
Credit Cards
Window Visuals
Foot Traffic
2nd Hand Luxury Market
Flash Sales
Mobile