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RETAILERS
The FormaLogix 3D Virtual Fit system has
been designed specifically to address the problems that arise from
incorrect sizing. These problems, often seen as a necessary cost of
doing business, materially effect the bottom line of retailers and
result not only in lost revenues, but also in lost sales
opportunities. By understanding the problem of size retailers can
help reverse this effect and begin to benefit from stronger sales,
reduced returns and greater customer satisfaction.
Understanding the Problem of Size
Inconsistent sizing among
manufacturers creates a number of problems which effect
retailers in several areas of their business. At FormaLogix we
characterize these problems as the 3 C's - Confusion, Concern and
Cost.
Confusion
When a customer walks into a store, the first question they are
often
asked is what size they are. In a sense this is a trick question as
their size only serves as a guideline to what their size might be in
a particular shoe. They could be a size 10.5, 12 or even 13... This
confusion results in the sale taking much longer and leaves the
customer either waiting for the sales associate to return from
another trip to the stock room, or to be served.
Concern
Because of the confusion surrounding shoe size, customers are
reluctant to buy shoes direct (online or catalog) where they have no
opportunity to try the shoe on. This helps explain why direct shoe
sales have yet to meet the direct sales volume of the apparel
industry - where size is more uniform. Being able to somehow assuage
sizing concerns presents a huge untapped market for shoe retailers.
It also opens up a whole new avenue of new sales opportunities such
as gift buying where people can now feel comfortable and confident
to buy shoes for others.
Cost
Very simply, if the shoes don't fit they get returned.
These returns can either be salvaged and put back into inventory, or
have to be written off. With most people citing poor fit as the main
reason for returning shoes, any method available to determine a
better fit will have a material impact on which shoes get returned.
This is especially the case for direct sales which have, on average,
twice the return rate of store sales.
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