Retail

Web Summit: the future of retail according to Tommy Hilfiger

by Esmee Blaazer
13 Nov 2019

Lisbon - "We believe in digitisation. Digital is the new future. It is the new norm. We implement it in all facets of our company, from product innovation in 3D design to artificial influencers," reports Daniel Grieder, CEO Tommy Hilfiger Global & PVH Europe during the internet technology congress Web Summit in Lisbon, where on Thursday the programme 'Sketching the fashion of the future' took place on one of the stages. The CEO shares the ambition to become the fashion tech company of the world. "We are currently working, testing, implementing and analysing new ideas about the future for our brand and our company. Here are a few that I would like to share:"

The store of the future

"The days when you walk into a store and someone says, "Hello, how can I help you?" are over. As soon as you walk in, your mobile phone gives you all the information you need. The store will immediately know who you are, where you come from, what you bought last time and make a selection of what you would like to buy this time. This selection will be brought to you so you can try it on, try it on and go again. More experience, a faster and finer experience."

But that is just a development, he says. "There is so much data and technology that it will be implemented and analysed in the store. Data is the new asset".

The shop window: more movement and personalization

A second example is the shop window. "Due to augmented reality and the data, the shop window will always look different. As soon as you pass by, you are detected and the shop window is adjusted and personalized. Maybe you can see yourself in the shop window, dressed in the clothes that are hanging in the shop."

Avatar

"But it's getting even crazier," continues Grieder. "We will all have our own avatar. Your avatar can shop online and also send messages. That way we can do everything faster." He reports that Tommy Hilfiger is already experimenting with this.

According to Grieder, the warehouse of the future is no longer just a warehouse for goods. It can be used for personalisation, collection, recycling and so on.

Digital buying and purchasing

In the digital showroom the buyer makes a digital selection. So there are no more physical samples. The buyer can also already see how the merchandise will look in his shop.

As a final consumer, you will soon be able to buy digitally as well. "Instead of you fitting clothes, your avatar can fit any product in the digital world. According to the CEO, this also happens in a number of test stores of the brand.

"Innovation goes faster and faster. Nothing stays as it is today. Even tomorrow will be like today. The end consumer dictates what it will be like in the future."

"I believe that we should always drastically change our business model. That's the only way to be innovative and innovative. It should be noted that we have to maintain our financial results, which cannot be changed, but the fact remains that those who don't change, those who don't innovate, will no longer exist.

This article was originally published on FashionUnited.NL, translated and edited.

Photo: Daniel Grieder, credit: Piaras Ó Mídheach/Web Summit via Sportsfile