Our Manifesto for the Future of Fashion Retail
Technology is opening up a lots of options for fashion and we want to be very clear about what we consider the true building blocks are.
Here’s our view, our Manifesto, for the Future of Fashion Retail:
1. A TASTE GRAPH FOR EACH RETAILER
Each fashion retailer will own its Taste Graph like Pinterest does.
This Taste Graph will contain the intelligence generated by shoppers and their interactions with products. A Taste Graph is your unique data asset and engine to build a competitive moat around your business.
Read here why it is important.
2. A TASTE PROFILE OF EACH SHOPPER
Retailers will build Taste Profiles of each shopper like Spotify or Netflix.
A Taste Profile summarizes the taste of an individual shopper, what clothes she has in her closet, and what are the drivers behind her purchases.
Read about Taste Profiles of shoppers.
3. AN ONTOLOGY INCLUSIVE OF ALL CONCEPTS
Ontologies will include all fashion concepts, even non-physical clothes descriptors but very relevant when deciding an outfit.
Each retailer will manage its catalogue and its shoppers with their own ontology.
Read about the new ontologies and what they allow.
4. TOYS WILL WIN
Seemingly unimportant services that look like toys will win the heart of people, their data and their pockets.
NOTE: We are not claiming that all fashion retailers are set for the above infrastructure. But it does apply to 100% of large fashion retailers.