In the fashion industry, having strategic, accurate and updated data on the evolution of the business is strategic for decision-making, the development of new strategies, the improvement of communication and actions with the customer and the optimization of operations, among other strategic decision-making. In fashion, sales data and business evolution are undoubtedly the most important.
The weight of fashion e-commerce in the total sales of the main consumer sectors in 2021 was 20.8%, second only to food (24.7%)1. Despite these excellent figures and the exponential growth of online sales during the COVID period and the two subsequent years, during the first half of 2022, there was a certain stagnation in sales in the digital channel. In addition, the inflationary scenario does not improve the environment either. Thus, the key to competition in the fashion sector is capturing shoppers, traffic, and a higher ticket price when the customer is in the online store.
In this context, the MODA HUB project seeks to respond to this need by proposing a project to develop a platform for sharing actual data on the evolution of e-commerce in the fashion sector. The MODA HUB platform will help SMEs in the fashion sector analyze their e-commerce performance to reinforce their current strategies and correct them quickly when necessary.
MODA HUB will develop a platform in which companies will upload their sales evolution indicators in the e-commerce channel, such as return rate, cart abandonment rate, conversion ratio, average ticket, and sales units per ticket. From the set of data entered, MODA HUB will analyze the data and return the data analysis in aggregate form, with conclusions and proposals for marketing strategies to be carried out to improve commercial results through actions aimed at enhancing communication with the consumer, accessing new online markets, etc.
ModaHub is led by MODACC, and co-lead Asecom, Escorpion, Simorra, Boboli, The Animals Observatory, Munich and Jelliby.
The project is funded by the Ministry ofIndustry, Trade and Tourism through the support programme of Agrupaciones Empresariales Innovadoras.
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