The world’s largest fashion brands are ubiquitous. Every developed country and most every woman within yearns for a stylish handbag by Louis Vuitton, Chanel, Gucci, Hermes, Dior, Prada, or Yves St. Laurent. Across worldwide time zones and language barriers, a high-end and classy handbag requires no translation.
A handbag from either of these brands is more important than just being chic. Women in Hong Kong short on cash are using their hand bags from four global fashion brands as collateral for loans. The girl short on money between pay checks turns over her handbag for authentication via Milan Station Holdings and gets 80% of its value from Yes Lady Finance Co. When she’s able to pay off the loan, she earns back her handbag. The Wall Street Journal had this story Aug. 14, 2013, “Cash Is In The Bag, If It’s Gucci.”
What does that mean for the brand? Each has an iconic statement women want; what that means is the need for a more targeted focus on engaging with the customer and having the customer engage positively about and with the brand, called a net promoter score.
How do brands track and listen on a global scale?
Fashionbi Is Big Data of Fashion
Recently, I had the pleasure of being introduced to Italian startup, Fashionbi. It’s the “complete digital marketing tool for the fashion industry,” with big data and analytics crossing borders and time zones for the world’s global fashion brands. Based logically in Milan, Fashionbi has offices worldwide and is growing exponentially.
Its ability to track social media analytics on Twitter and Facebook via Profiles across the world, including Weibo in Chinese, puts Fashionbi squarely at the forefront of its sector as a company to watch and work with.
Not only can Fashionbi share brand engagement by social media channel, it can also provide deep analytics of content quality and value. I got a look at its dashboard for member users only, and it blew me away. The graphs and charts typical to any users’ dashboard put Slideshare presentations to shame.
When I saw the analytics Fashionbi produces with sleight of hand, I immediately suggested it launch or purchase a digital marketing shop to execute on the big data being produced every minute of every day across every time zone. The wealth of information in Fashionbi’s dashboards requires expert assistance from marketers and public relations to interpret the data and put it into action for fashion brands.
Care to learn more?
Fashionbi on YouTube
Check out this YouTube video, two minutes of polished and well-done by the folks at Fashionbi. Even if you’re not that interested in a high-end handbag from Louis Vuitton, you have to admit, the analytics this company produces is enough to make you slap happy.