Fashion: Onboarding Speedy Product Onboarding to Lead the Pack

The fashion retail landscape is fiercely competitive and to succeed, you need every advantage you can get. While many retailers focus on marketing and pricing strategies, a crucial, often-overlooked element is the time-to-market of new products. Did you know that 79% of new products miss their market launch deadlines, according to research by the Product Development Institute?

Enter the Product Information Management (PIM) system — a game-changer that can significantly accelerate your product onboarding process, providing you with both a revenue and reputational boost.

The Magic of Extended Sales Windows

In a standard fashion calendar, you’ve got four seasons, each lasting about three months. If your current onboarding process takes three weeks from acquisition to market, consider what could happen if you cut that down to just one week using a PIM system. You’re gaining an extra two weeks of selling time, which can help you gain an edge over your competitors.

Outpacing the Competition in Fashion

Those additional two weeks aren’t merely numbers on a spreadsheet; they represent a tangible competitive edge. Utilizing a PIM system allows you to be the first to market consistently, making you the go-to retailer for consumers eager to get the latest trends. This kind of brand loyalty is invaluable, leading to word-of-mouth advertising and higher overall sales.

Establishing Fashion Market Leadership

Being the first in the market positions you as a trendsetter, and a PIM system is your tool for preserving this status by simplifying PIM and ensuring swift, precise updates. As you consistently set the pace, customers will instinctively turn to you for their fashion requirements, enhancing your brand’s image and fostering a continuous loop of repeat business.

Streamlining the market with PIM

So, how exactly does a PIM system speed up your time-to-market? A well-integrated PIM system streamlines coordination between buying, logistics, and sales teams. It can centralize product data, automate updates, and even provide real-time tracking features. These functionalities allow for quicker decision-making, efficient inventory management, and ultimately, faster product launches.

Cutting down on time-to-market doesn’t just add a few extra selling days; it transforms your brand into a significant player in the fashion retail industry. By leveraging the capabilities of a PIM system, you not only meet but surpass market launch deadlines, capturing consumer attention and maximizing revenue. In the high-stakes world of fashion retail, a PIM system could be the edge you’ve been searching for.