Key Highlights
In the wake of the E-Commerce boom & changing consumer demand, fashion retailers in the UK have witnessed intense competition. In order to survive and thrive, some of them adopted sharp strategies to get ahead and stay ahead in the race to the top. We wanted to get insights into these tactics, so from January - June 2022 we tracked a few fashion retailers in the UK & 11,000+ SKUs to understand the strategies they used to stay competitive and grow in an environment amidst inflationary pressures, supply chain issues, and changing consumer preferences.
Strategy Highlights:
- Maximize conversions by managing product availability and assortment
- Adjust prices to gain a competitive advantage
- Alter Category-Level pricing to increase customer base
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