The upcoming season has a lot to offer to bag lovers. With travelling restriction lifting, people are free to go out for outings, and as a result, trends around fashion and luxury industries are surging. And the fascination of forging elegant style statements through the bag people want to own and flaunt. These beautiful mini creatures help buyers carry all essentials like masks and mini-sanitizers, offering all sorts of practical use and helping people showcase themselves as fashion icons. The new season's fresh trends will be quite rejoicing as bag shapes, and motifs are in for an experiment. However, we have another option that will help brands attract more buyers and ultimately lead to more sales. It is handbag design software, a customization solution that will allow buyers to customize bags that fit their style and purpose after installation on the brand's website. The new-age solution allows brands to garner more profits as it enables them to let buyers determine what collection they like and create unique designs that will subtly promote their brand value.
Bags Designing Software Offers Solutions to Redeem Yourself in the Luxury Industry
During the lockdown period where stepping out and purchasing new products was strictly prohibited, buyers and fashion companies saw online shopping as the only ray of hope. It helped brands expand their customer base and helped customers pass their time and indulge in some luxury hobbies that enhanced their lifestyle. And what could have been better than purchasing products, such as handbags and bags that aid women buyers in improving their status quo? Also, by launching products, online brands could leap various boundaries, such as geographical locations, real-time feedback, and order placement that would hamper its launch earlier. The latest technologies allow brands to update their website and other social media platforms, and its frequent followers' buyers will get a news feed related to it.
Similarly, other benefits have compelled many brands to jump into the pool of eCommerce. Additionally, as more vaccines are rolled out, the luxury market is set to witness a surge in its sales. With pent-up shopping demand potentially bringing teeming hordes hungry for tactile shopping experiences back to stores sometime this year, luxury retailers are prepared to meet these new challenges.
The online marketplace offers enormous lucrative opportunities for luxury retailers to start with a fresh, bold, and innovative approach. Brands need to shed the past waste and inefficiencies that brought many a hallowed brand into the dustbin of history and embrace new models that tightly align the needs of brands' customers and talent. If you are wondering what the new changes might be and how your company should be ready to welcome these transformations, this blog will help you answer all the questions.
Here are a few trends and solutions that will help handbag manufacturers and retailers to flourish in the luxury market:
1. Use BNPL to Expand Customer Reach and Enhance Shopping Experience
Fashion is projected to generate $712.9 billion in eCommerce revenue annually by 2022, meaning brands must bring in Gen Z and millennial shoppers. These consumers have more and more spending power, and companies looking to succeed will have to entice them — but doing so is only half the battle. Cart abandonment continues to be a concern, as the abandonment rate for the fashion industry hovered around 83 per cent in December of 2019. With the boom in online shopping, buyers are willing to purchase anything and everything, but they face huge payment problems for a long time. Either price was too high, or the paying capacity of the buyer was limited. Whatever the case, the business would always suffer as a buyer during the payment option; they would abandon the cart thinking it was unaffordable. Therefore, brands had to develop a solution that enabled buyers to buy any product they wished to purchase without worrying about the payment. Hence, Buy-now-pay-later (BNPL) service has swept fashion eCommerce across the price spectrum.
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