Farfetch Now Lets Shoppers Secure the Most Desired Fashion Items
Francesca Mercurio — August 26, 2021 — Business
References: businessoffashion
E-commerce giant, Farfetch, has partnered with numerous luxury brands to help customers secure in-demand items before they have launched.
As today's e-commerce market is extremely crowded, Farfetch has launched this new offering to differentiate itself. This new feature will let customers preview a luxury brand's upcoming collection before it has hit the general market. Customers will then get the chance to pre-order any item from the line. Thus providing an exclusive shopping experience.
So far, ten brands have partnered with Farfetch - including Balenciaga, Palm Angels, Off-White, and Oscar de la Renta to name a few. Farfetch also hopes this new feature will help brands become more sustainable. By tracking the demand for an item, companies can better manage inventory and reduce mass production.
As today's e-commerce market is extremely crowded, Farfetch has launched this new offering to differentiate itself. This new feature will let customers preview a luxury brand's upcoming collection before it has hit the general market. Customers will then get the chance to pre-order any item from the line. Thus providing an exclusive shopping experience.
So far, ten brands have partnered with Farfetch - including Balenciaga, Palm Angels, Off-White, and Oscar de la Renta to name a few. Farfetch also hopes this new feature will help brands become more sustainable. By tracking the demand for an item, companies can better manage inventory and reduce mass production.
Trend Themes
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Exclusive Pre-ordering — Creating a buzz by allowing customers to order limited release fashion items before they hit the general market can add a feeling of exclusivity.
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Sustainability-driven Production — Tracking item demand can allow luxury brands to manage inventory better, reduce mass production, and transition towards a sustainable production method.
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Innovative User Experience — Providing customers more than just purchasing experience by giving them an insight into the brand's upcoming collection can set Farfetch apart from other e-commerce platforms.
Industry Implications
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Luxury Fashion & Accessories — Creating a buzz by allowing customers to order limited release fashion items before they hit the general market can be applied to luxury fashion and accessories industry.
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E-commerce Retail — Innovative user experience and exclusive pre-ordering capabilities on e-commerce platforms can attract and retain customers.
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Inventory Management and Supply Chain — Tracking demand can allow luxury brands to manage inventory and reduce overproduction, thus contributing towards better supply chain management.
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