Digital Transformation In The Fashion Retail Industry Statistics

57% of retailers expect to invest in AI for customer experience within 12 months [1]

84% of business leaders say AI is important to their organizations’ strategy [2]

60% of retailers plan to implement AI in customer service [3]

52% of retailers expect AI to have a strong impact on their revenue [4]

38% of retailers use AI today [5]

70% of retailers have a digital transformation roadmap [6]

49% of retailers use automation to streamline operations [7]

58% of retailers are investing in automation tools [8]

35% of retailers using automation report reduced labor costs [9]

33% of consumers say automated customer service (chatbots) is convenient [10]

30% of customer service interactions can be handled by chatbots [11]

25% improvement in markdown optimization with AI [12]

49% of retailers cite labor constraints as a barrier to digital transformation [13]

43% of retailers use AI for product recommendations [14]

37% of retailers use AI to optimize pricing [15]

28% of retailers use AI for fraud prevention [16]

25% of retailers use chatbots for customer support [17]

78% of retailers plan to use computer vision in 2020-2022 [18]

16% of retailers have implemented facial recognition for personalization [19]

10-15% productivity increase with mobile workforce management in retail [20]

75% of retailers say digital transformation affects their strategy [21]

30% of retailers use digital merchandising tools for assortments [22]

25% improvement in merchandising productivity with AI [23]

20% reduction in markdowns with AI pricing [24]

15% revenue uplift from optimized assortments [25]

33% of fashion retailers use recommendation engines [26]

28% of retailers are using AI-driven trend forecasting [27]

33% reduction in warehouse labor with warehouse automation [28]

18% of retailers have deployed robotics in warehouses [29]

60% of retailers say automation improves accuracy [30]

20% reduction in picking errors with warehouse robotics [31]

24% of retailers use marketing automation for email and SMS [32]

73% of consumers expect personalization from retailers [33]

76% of consumers say they would like to receive marketing offers based on their shopping preferences [34]

61% of consumers say they trust product information more when it is personalized [35]

63% of shoppers expect retailers to keep track of their preferences and purchase history [36]

57% of consumers say they want retailers to know their purchase history [37]

78% of customers are more likely to repurchase when personalization is used [38]

79% of consumers have been impacted by a personalized ad they saw online [39]

65% of respondents say they are willing to share personal information in exchange for personalized experiences [40]

52% of fashion consumers have shopped online in the last month [41]

40% of retailers use personalization to increase conversion rate [42]

14% uplift in conversion from personalization [43]

9% increase in revenue from personalization [44]

62% of fashion customers use social media to discover products [45]

30% of shoppers have purchased through social media [46]

50% of retailers say visual search would improve discovery [47]

30% of fashion shoppers use visual search [48]

20% higher average order value from personalized recommendations [49]

74% of consumers are likely to purchase from brands they find online [50]

46% of consumers use search to compare products before purchase [51]

35% of retailers say social commerce is increasing sales [52]

60% of fashion marketers use influencer marketing [53]

27% of retailers attribute growth to social media campaigns [54]

15% reduction in acquisition costs with better personalization [55]

1 in 3 consumers wants retailers to use AI to tailor offers [56]

77% of retailers say data quality challenges impact personalization efforts [57]

49% of retailers cite difficulty integrating online and offline data [58]

62% of retailers say they lack real-time inventory visibility [59]

45% of retail organizations lack the analytics skills needed [60]

80% of marketers believe data is critical, but only 8% consider it high quality [61]

71% of executives say they need better data governance [62]

53% of retailers say they have siloed data [63]

58% of retailers report that privacy regulations constrain their analytics [64]

46% of retailers plan to improve data integration over the next 12 months [65]

67% of retailers track customer behavior across channels [66]

56% of retailers say lack of customer data prevents growth [67]

41% of retailers have not yet implemented a customer data platform (CDP) [68]

28% of retailers say inventory visibility is their top challenge [69]

30% of retailers have implemented real-time inventory tracking [70]

44% of retailers expect fraud and chargebacks to rise without digital controls [71]

50% of retailers have a dedicated digital transformation team [72]

36% of retail executives say transformation is behind schedule [73]

45% of retail CIOs prioritize integration of legacy systems [74]

26% of retailers use cloud-first strategies for transformation [75]

30% reduction in IT costs after cloud migration for retailers [76]

22% of retailers experienced data breaches [77]

60% of organizations adopt microservices for faster deployments [78]

32% of retailers have implemented a data lake [79]

27% of retailers use a warehouse for analytics [80]

18% of retailers use a CDP as of 2020 [81]

52% of retailers use supplier scorecards digitally [82]

39% of fashion retailers use PLM (product lifecycle management) systems [83]

67% of consumers expect real-time inventory availability [84]

50% of retailers use analytics to manage inventory in near real time [85]

28% of retailers measure customer lifetime value (CLV) digitally [86]

39% of retailers use A/B testing for digital optimization [87]

83% of organizations expect IoT to improve operational efficiency [88]

60% of retailers are piloting RFID/IoT for inventory [89]

22% of retailers already use RFID for inventory [90]

15% reduction in inventory shrink with RFID adoption [91]

90% accuracy for RFID inventory tracking [92]

30% improvement in inventory accuracy using RFID systems [93]

48% of retailers are using kiosks in-store to help customers [94]

67% of retail shoppers have used a self-checkout system [95]

29% of shoppers use mobile apps to check in-store inventory [96]

36% of retailers use beacons in stores to send offers [97]

25% of retailers plan to add smart mirrors [98]

20% of fashion retailers use AR for product visualization [99]

74% of shoppers say AR could help them make more confident purchases [100]

21% of shoppers would consider buying using AR features [101]

54% of retailers expect AR to impact sales within 2 years [102]

38% of retailers plan to use voice assistants [103]

50% of consumers are interested in voice shopping for reordering items [104]

70% of retailers will adopt RFID by 2025 [105]

61% of marketers say AR improves customer engagement [83]

24% of retailers use computer vision for inventory counting [106]

70% of shoppers are willing to try wearable tech if it helps shopping [107]

30% of retailers have adopted mobile POS [108]

21% of retailers use digital signage [109]

18% reduction in time to find merchandise with smart systems [110]

15% reduction in checkout time from self-checkout [111]

11% of retailers say AR increased conversion [112]

35% of retailers use RFID for case-level tracking [113]

50% of retailers use barcode scanning in operations [114]

65% of in-store transactions now use mobile payments [108]

88% of consumers expect retailers to provide consistent experiences across channels [115]

70% of shoppers who have a negative experience with a brand are likely to stop shopping with that brand [116]

86% of consumers say the experience a company provides is as important as its products [117]

45% of shoppers use mobile to search for products in-store [118]

34% of consumers have used a retailer’s app to redeem discounts [119]

83% of shoppers say they want to shop with retailers that provide a seamless online and offline experience [120]

54% of consumers say they use multiple channels to shop [121]

59% of online shoppers abandon if site is slow [122]

53% of mobile users leave a site that takes longer than 3 seconds to load [123]

20% faster mobile page speed increases conversion by 27% [124]

30% of customers will switch brands after one bad experience [125]

57% of customers say they’ll pay more for better customer service [126]

49% of consumers want more self-service options in retail [127]

67% of consumers say videos influence their purchasing decisions [128]

33% of retailers say digital signage increases sales [129]

48% of consumers prefer self-service to waiting in line [130]

30% of shoppers prefer to interact with digital product info while in-store [131]

55% of consumers say mobile wallets improve shopping convenience [132]

30% of fashion customers use QR codes for product info [133]

69% of consumers consider returns policy important when choosing where to shop [134]

73% of consumers want to be able to return items easily [135]

64% of consumers say they are more likely to buy online if returns are free [136]

41% of consumers say they would return more often if returns were easier [137]

80% reduction in time spent on returns processing with automation [138]

24% of retailers have implemented virtual try-on [139]

36% of fashion shoppers are interested in virtual try-on [140]

25% reduction in returns after virtual try-on pilots [141]

20% decrease in return rates from improved size recommendations [142]

44% of returns are due to fit/size issues [143]

33% of shoppers say they return items because they can’t tell how they fit [144]

70% of customers expect to try on items before buying online [145]

15% reduction in returns with better product content and imagery [146]

45% of retailers say digital product content affects conversion [147]

63% of online shoppers expect free returns [148]

24% of fashion returns are resold; remaining are not [108]

12% of online shoppers return purchases [149]

17% increase in e-commerce returns due to more online shopping [150]

8% of revenue lost to returns in fashion e-commerce [151]

23% of retailers say virtual try-on reduced returns [152]

26% of fashion consumers want more accurate sizing tools [153]

45% of online shoppers use sizing charts [154]

29% of consumers are dissatisfied with size charts accuracy [155]

72% of consumers expect size data to be more personalized [156]

71% of online shoppers expect to receive shipment updates [157]

44% of consumers will abandon an e-commerce purchase if delivery costs are too high [158]

40% of shoppers want more options for shipping speed [159]

50% of shoppers expect same-day delivery where available [160]

15% decrease in order cancellation with automated replenishment [161]

10-20% inventory reduction via demand forecasting [162]

20% improvement in forecast accuracy using machine learning [163]

35% of retailers are using predictive analytics for demand planning [164]

60% of supply chain leaders use analytics [165]

47% of retailers say out-of-stocks are a major loss driver [166]

4% of retail sales are lost due to out-of-stocks [167]

6% of retail sales are lost to overstock and clearance [168]

85% of retailers plan to invest in supply chain technology [169]

42% of shoppers say they want to check order status themselves [170]

38% of retailers provide in-app tracking [171]

41% of retail customers expect faster shipping [172]

24% of retailers use blockchain for supply chain traceability pilots [173]

60% of consumers want brands to be transparent about sourcing [174]

70% of consumers are willing to pay more for sustainable fashion if claims are verified [175]

38% of fashion customers consider sustainability when making purchases [176]

56% of apparel brands plan to improve sustainability reporting via digital tech [177]

65% of retailers say they want to reduce emissions through better planning [178]

15% faster cycle times in planning with digital systems [179]

40% of retailers use demand forecasting for replenishment [180]

20% improvement in on-time in-full (OTIF) with integrated planning [181]

25% of retailers have deployed WMS or TMS upgrades as part of transformation [182]

10% reduction in delivery lead times with predictive routing [183]

25% improvement in last-mile delivery efficiency with route optimization [184]

12% of retailers use sustainability analytics tools [185]

46% of consumers want carbon footprint info at checkout [186]

68% of consumers are concerned about ethical sourcing [187]

30% reduction in product development time with PLM [188]

24% of apparel companies use digital twins for supply chain planning [189]

19% increase in forecast accuracy with digital twins [190]

22% of retailers use blockchain for brand authentication [191]

18% counterfeit reduction with blockchain-enabled tracking pilots [192]

40% of luxury customers are concerned about counterfeits [193]