In a world of technological disruption and digital transformation, few things change more rapidly than consumer demand—particularly when it comes to fashion.
More than ever, customers expect to see the latest designs hit the shelves straight from the runway – and data is the key. Recent studies from McKinsey and Deloitte find that unlike their underperforming counterparts, top fashion retailers use customer insights and data at every stage of the product design and marketing process. According to Deloitte, fashion retailers with revenue growth of 10 percent or greater in the previous fiscal year focused twice as much on data strategy as underperforming companies. To these top performers, data analytics isn’t an afterthought, it’s integral to the planning process.
To thrive in today’s landscape, retailers can’t afford to take the fast-follower approach once new trends take hold. Success requires staying ahead of emerging trends and acting fast once they appear in order to meet customers’ ever-changing demands.
But how can retailers anticipate the next hot thing or keep up with these sudden spikes in demand? With traditional analytics tools, retailers can analyze customers’ purchasing behavior, product page views, and clicks to get a sense of what customers found or ended up purchasing. But they lack the tools to delve deeper into their thousands or millions of search queries to truly understand customers’ intent. Sifting through search query data can take days or weeks to analyze, especially when query logs typically have an endless tail. By the time the retailer can identify an emerging trend, it could be long gone—along with the opportunity to capture those sales.
Introducing Twiggle Trends
Twiggle Trends, our new site search analytics platform, gives marketers and merchandisers the ability to discover the latest trends as they happen and identify what customers are looking for at any given moment. It also gives search teams the data they need to optimize search performance. Harnessing cutting-edge artificial intelligence and natural language processing (NLP) technology, Twiggle Trends adds a layer of understanding to a site’s search query data, empowering retailers to tackle the biggest challenges in winning new customers, keeping them on site, and driving growth.
How Does It Work?
Twiggle Trends scans your e-commerce site’s search data, analyzes your entire search query log, and automatically clusters the thousands or millions of queries into meaningful categories to paint a picture of what customers are looking for. The platform also measures the popularity of your merchandise categories and interest over time across more than 20 parameters, so you can know which product types, brands, colors, and styles are in demand—in real time.
Once a trend or anomaly is detected, the platform alerts you to ensure you’re always a step ahead. It also enables you to track how seasonal changes, marketing campaigns, or external factors (social media, influencers, etc.) influence interest level. Armed with this data, you can make better-informed decisions about your inventory, adjust your search results, and validate your marketing and merchandising efforts to drive conversions and enhance the customer experience.
With Twiggle Trends, retailers can be more proactive in their effort to satisfy customer demands and position themselves for sustained growth in a swiftly changing industry.
Twiggle Trends is now available to a limited number of customers. Want to be the first to try it out?