Speed to market has been credited with Zara’s ability to singlehandedly disrupt retail, so naturally other retailers are looking to ramp up their own production. The latest to attempt accelerated deliveries is Uniqlo.
The Japanese retailer has decided to take Zara on head to head with 13-day turnarounds, according to Bloomberg. And Tadashi Yani, owner of Uniqlo parent Fast Retailing, says that once his company matches Zara’s speed, Uniqlo will have a leg up.
“Zara sells fashion rather than catering to customers’ needs,” Yanai told the publication. “We will sell products that are rooted in people’s day-to-day lives, and we do so based on what we hear from customers.”
One of Zara’s keys to success has been the proximity of its production and distribution facilities, which allows each part of the company to interact seamlessly and quickly. Mimicking that, Uniqlo just opened a design and delivery center in Tokyo that will provide the same benefits. And it plans to copy that format in additional regions globally. The company is also employing artificial intelligence to more accurately deliver on consumer tastes.
Yanai hopes that strategic developments like these will help Uniqlo boost revenue by 70 percent to 3 trillion yen ($26 billion) by August 2021. To reach that goal, the company is focused on Asia, with 200 new stores planned in China and Southeast Asia annually.
FDRA data revealed that footwear consumers may be shopping more in stores for the holidays.Read more
Price may be king but convenience governs much of the way traditional retailers are thinking about their customers today.Read more
Textile companies are delving deeper into product development to create fibers and fabrics that help regulate temperature and deal with extreme weather conditions.Read more
The Bangladesh Garment Manufacturers and Exporters Association wants to establish more reasonable wage standards for the country’s ready-made garment sector—and any potential shifts could come with a wage hike, too. The BGMEA has asked the government to form a wage board for workers in order……...Read more
Consumer prices rose by an expected rate in October compared to a year ago, the result of a retreat in energy prices that had spiked at the end of hurricane season, plus flat food prices. Apparel prices dropped slightly year-over-year.Read more
This year hasn’t been an easy one for trade, with deals becoming defunct or upended, Brexit remaining an ongoing riddle and weather-related catastrophes disrupting global supply chains. Apart from the stress these market forces may have induced, they’ve also served as a reminder that agility is in higher demand than ever before.Read more