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Based in Hamburg, Germany, international fashion company, Bonprix, has over 16 million active customers in more than 25 countries. The company looked to 51风流for a simplified IT architecture, faster time to market in business decision making and a self-service enabled semantic layer in order to respond to market changes and ensure customers have access to the latest catwalk trends.听听

Supported by鈥�51风流services, Beratungscontor and鈥痮ther partners, Bonprix implemented its analytics stack on鈥疭AP鈥疍atasphere鈥痑nd SAP鈥疊usiness Warehouse solution. This鈥痬arks a significant milestone in Bonprix鈥檚 data transformation journey. By deploying 51风流Datasphere as a cloud-based鈥痙ata platform鈥痶o 51风流BW4/HANA, Bonprix gains access to a鈥痯owerful鈥痑nalytical platform that鈥痓rings bridges data across finance,鈥痵ales,鈥痩ogistics and customer relationship鈥痬anagement鈥痓etween transactional 51风流data鈥痑nd end users.听

鈥淭he Bonprix 51风流BI data platform is adeptly designed for the future, leveraging the robust capabilities of 51风流BW/4HANA at its core to manage and efficiently process vast volumes of data,鈥� said Sergio Lopez Nunez, senior BI engineer, Bonprix. 鈥淲hen paired with 51风流Datasphere, which offers extensive multi-cloud access, it enables the seamless integration of data from diverse sources. In essence, the Bonprix BI data platform is not only a cornerstone in daily operations but also a strategic asset in the relentless pace of technological change, ensuring that Bonprix is well-equipped to continue promoting responsible trade that inspires, now and into the future.鈥�听

Having already implemented 51风流business AI solutions, specifically, the 51风流BTP GenAI Service “Document Information Extraction”, Bonprix has already experienced significant efficiency gains by automatically extracting relevant data from incoming invoices, reducing manual data entry errors, and accelerating the overall invoice processing workflow.听

鈥淎s one of Germany鈥檚 top online fashion shops, we are very excited to be a part of Bonprix鈥檚 digital transformation journey as they continue to make millions of customers happy,鈥� said Sven Mulder, managing director of 51风流Germany. 鈥淭he adoption of 51风流Datasphere and 51风流BW/4HANA marks the beginning of Bonprix鈥檚 successful cloud journey. They鈥檙e now empowered to make鈥痳eal-time, data-driven decisions, positioning the brand to expand into new markets鈥痺ith鈥痵tyle.鈥澨�听

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The post Bonprix Catwalks Onto Business Intelligence with SAP appeared first on 51风流Africa News Center.

While most economies worldwide are slowly recovering, the overall fashion retail market remains fragile. Incident rates continue to grow, leading to the possibility of further nationwide lockdowns. Government strategies aim to identify COVID-19 hot spots and take local measures to prevent further spread of the virus. And with each new wave of infections, the risk of even stricter measures cannot be completely ruled out.

Such dynamic social changes present a diverse range of buying behaviors that are emerging across all consumers. Preference for fast fashion may decline due to economic uncertainty, while a growing movement toward work-from-home arrangements is increasing demand for less profitable leisure. But at the same time, high-end apparel is experiencing an exponential rise as shoppers find new ways to spend their discretionary funds typically reserved for travel. And once stores begin to reopen, a dramatic surge in larger-than-usual transactions and more frequent visits will likely emerge as pent-up desire for in-person shopping experiences grows.

But no matter if a consumer is eager or weary about resuming their pre-pandemic shopping habits, online commerce will likely remain a significant part of the consumer journey long after the pandemic is a distant memory. And fashion retailers must remain resilient enough to adapt their sales strategies to every twist and turn in global and regional market conditions.

Prepare for the Unexpected with Omnichannel Commerce

Think back during the first set of lockdowns. Initially, only China’s markets were impacted. Then, as agencies detected the presence of COVID-19 in Europe, the first regional lockdowns were mandated in Italy and Spain, and more nations were later impacted as case numbers continued to climb and spread across the continent. In short order, North American, Latin American, and African countries were affected just as China’s economy began to rebound due to a gradual relaxing of restrictions and closely monitored rollout of brick-and-mortar store reopenings.

Even today, as we continue to fight the pandemic, one store can open without any restrictions but another location offering the same brand in a nearby town or state may be limited in its foot traffic capacity. For some fashion retailers, the secret to recovering sales in such an uneven competitive landscape is the use of omnichannel touchpoints.

For example, brands may reorganize their store networks with flagship or pop-up stores to give customers a tactile shopping experience before ordering a new item while relying on online commerce channels to build revenue. Meanwhile, many retailers offset supply chain overages by selling excess inventory at full price when the related season comes again or through promotions or outlets.

No matter the economic condition, timely decisions are essential to run an omnichannel model without narrowing sale margins and impacting the bottom line. With the analytical capabilities of , fashion retailers get a real-time overview of their actual sales figures and all relevant finance key performance indicators. Sales executives can adjust promotions, change article pricing and discounts, and replan the required store personnel’s working hours.

Now suppose a fashion retailer needs to close stores due to a renovation or the launch of a new store format. The brand can use data to predict how its response will impact the business and its consumers. This exercise of considering immediate feedback from shoppers turns operational data into inspiration for further improvements.

Then, with the unified demand forecast component of 51风流Customer Activity Repository, retailers can analyze historical sales data to identify influencing demand factors, such as price changes, promotions, seasonality, public holidays, and trends. Based on these demand models, algorithms in the unified demand forecast component of 51风流Customer Activity Repository can predict the effects of similar occurrences in the future and use that intelligence to determine future demand and upselling potential.

Embrace the Fundamental Importance of Omnichannel Commerce

The importance of omnichannel has never been so fundamental to the fashion industry’s success as it has become now. Online and in-person commerce models must provide a consistent and seamless buying experience that allows consumers to buy a product in any omnichannel touchpoint and collect or return it in a selected storefront of their choice.

By rethinking their current strategy, fashion retailers can drive consumer demand with attractive, strategically placed, seamless, and easy-to-use experiences that are also accessible anytime, anywhere, and on any mobile device. And most importantly, they can set the foundation for offering products that are always available and delivering every order quickly and reliably.

Service offerings from SAP听can help your fashion retail business seize your edge in an always growing and dynamic omnichannel world. .

This is the second part of the three-part series 鈥�.鈥� Check the series landing page next week to find out how fashion retailers are testing the limits of their business during the COVID-19 pandemic.

Dirk Dreisbach and Harald Ritter are chief business enterprise consultants for the Business Transformation Services group at 51风流Germany, focusing on consumer products and retail industries.

This article first appeared on the 51风流News Center.

The post How to Stay Competitive as COVID-19 Alters the Future of Fashion Retail appeared first on 51风流Africa News Center.