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
1. 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.
2. Sustainability-driven Production - Tracking item demand can allow luxury brands to manage inventory better, reduce mass production, and transition towards a sustainable production method.
3. 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
1. 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.
2. E-commerce Retail - Innovative user experience and exclusive pre-ordering capabilities on e-commerce platforms can attract and retain customers.
3. 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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