In the age of big data, understanding consumer behaviour and preferences is paramount. Fast-fashion retailers are no exception. They need to know what styles, colours, and designs are resonating with their target audience.
In the past, they used sales data and
trend forecasting to plan assortments. Now, with third-party brands, it's even better.
When a fast-fashion retailer partners with an external brand, it gains access to that brand's customer data and insights. This can give us important details about what customers want, how they shop, and what brands they like. For example, if a retailer partners with a third-party athletic wear brand and sees a surge in sales of workout clothing, it's a clear indicator of a fitness trend among their customers.
With this data, the retailer can adjust its assortment plan to meet the
demand. They can expand their own activewear line or collaborate with athletic brands.
Additionally, external brands often bring their own trendsetting expertise to the table. They know their niche markets well and can bring new ideas and styles that fast-fashion retailers may not have considered.
This cross-pollination of ideas and trends can keep the retailer's product offerings on the cutting edge of fashion.