As reported by Snapdeal, the company has launched Snaptrends, a service for its apparel sellers to forecast fashion trends. This is to provide small and medium manufacturers with intelligence to make right business decisions. The service would only be available for Snapdeal sellers. It will provide them with an edge in future design and fashion. It will cover western and ethnic wear segments. Apparel is the fastest growing category in the e-tail business and building loyalties in the sector can be rewarding for the marketplace in the long run. The apparel market is ever evolving and with the arrival of international brands in India, the industry has become highly competitive and trend focused. This service will give small and medium manufacturers a sigh of relief from the huge expenses being incurred on the design front.
Most common takeaways from the platform will be trending colors, fabrics, prints/designs. This is all backed by an analyst team with Snapdeal, including fashion designers, textile designers, and fashion experts. If this initiative does well, it will surely change the way apparel business in done online.
And yes, with the fierce competition in online retail business, the other marketplaces won’t stay far behind and join the race soon enough with other service innovations.
You may also want to read: How can apparel retailers increase sales?
Similar Initiatives From Other Marketplaces
Myntra uses the big data and artificial intelligence to get customer insights with humans and help in shortening the fashion production life cycle. It also gathers real time data in fashion related information to determine the trend and upcoming demand. This information is shared with manufacturers to promote products as per the reports.
Amazon and Flipkart also engage in fashion trends forecasting by hosting a big group of editors, graphic designers, photographers. The e-tailer also uses data analytics to arrive at trends and help their sellers.
These initiatives help these companies to stay ahead of the competition and extended support for sellers is the prime focus of marketplaces.