The fashion retail industry is more fast-paced and competitive than ever before. So to stay ahead, clothing brands should adapt to changing consumer preferences and behavior. Especially with emerging technologies and disruptive e-commerce players.
A key part of this adaptation is providing exceptional customer service. It also ensures support across channels. Call centers with outdated tools can not provide consumers with a modern experience. This is why clothing retailers need intelligent call center solutions. These solutions play a key role in enhancing omnichannel support.
Oracle call center software offers cutting-edge call center technologies. These technologies are often powered by artificial intelligence (AI) and machine learning.
AI and ML help clothing brands boost customer satisfaction. They also help increase sales and streamline operations. Let’s explore how Oracle is revolutionizing call centers for the clothing industry.
The Imperative of Real-Time Inventory Planning in Fashion Retail
Most customers have some needs that they expect the products they buy to meet. More often than not, these expectations arise from the changes in style and trend.
To meet today’s demanding customers, clothing retailers need accurate real-time visibility. This visibility offers them insight into their inventory across all channels. Issues like the unavailability of size or item are primary reasons for loss of sales in the fashion retail sector.
But Artificial intelligence (AI) is bound to reduce these losses. The conversational AI market, which enables real-time inventory planning, has the potential to grow at an annual rate of 22% to be worth over $10.7 billion.
With Oracle Retail Science Cloud, clothing retailers can achieve near real-time insight. This is helpful as it enables them to view inventory changes across their network. This helps ensure items are where customers want them, which in turn reduces lost sales.
The integration of Oracle call center solutions with fashion brands’ inventory is beneficial to agents. It can provide agents with accurate availability information to callers. This will delight customers and improve sales and retention.
Versace’s Transformation with Oracle Cloud
To understand the future of customer interactions, look no further than Versace. This fashion brand implements Oracle Customer Experience (CX) Cloud Suite. The cloud suite enables them to transform their customer service.
To ensure that they meet customer needs, Versace deployed an array of AI-powered capabilities. These tools interact with website visitors to provide personalized recommendations. The brand also leverages tools like Next Best Action. This tool enables them to analyze customer data. It also assists in recommending optimal service actions for agents.
Below Are Some of the Ways Versace Benefits From This:
- 30% increase in average order value
- 40% growth in online orders
- Double-digit revenue increase from improved customer retention
- Sustainable brand growth
All of the above arise from the integration of their customer service channels. It also comes from arming staff with data-driven insights.
The Oracle CX cloud suite provides Versace with a single unified view of every customer’s touch point. With these insights, agents gain access to comprehensive customer profiles. Agents can review purchase history, communications, and service interactions to deliver personalized experiences.
Industry reports provide measurable insight into the future of customer interactions. It predicts that by 2025, 95% of customer interactions will be powered by AI. But, Versace’s implementation of oracle places them at the forefront of the future.
This is due to the data-driven and data-oriented customer service interactions Oracle offers. Their success underscores why clothing brands need integrated call center solutions.
Benefits of Oracle Call Center To the Clothing Industry
- Elevating In-Store Customer Experiences
Although online purchases are effective, in-store interactions remain critical for clothing retailers.
Statistics on the rate of in-store purchases reveal that about 81% of customers prefer self-service options. This doesn’t mean that they do not contact an agent, rather, they do so only after self-service.
Forward-thinking fashion brands like ETRO are using Oracle technology to reshape physical experiences.
ETRO is leveraging solutions like Oracle Retail Xstore Office Cloud Service. This service equips sales associates with mobile devices. These devices provide instant access to:
- Inventory availability across stores
- Customer transaction history
- Product recommendations, etc.
By empowering associates with data-driven insights, ETRO delivers more tailored interactions. It is able to promote customer loyalty. Sales associates can also process purchases on the sales floor with mobile points of sale. This provides them with a modernized and convenient checkout experience.
Moreover, Oracle Retail’s integration between stores and call centers assists agents in various ways. This innovation offers them visibility into inventory levels at each location. This omnichannel view enables agents to check stock levels in real time. With this information, they are able to help and support customers, further elevating in-store experiences.
- Transitioning From Manual to Automated Retail Planning
As competition intensifies, an astronomical 83% of retailers are prioritizing AI adoption. They do so to enable automation in areas like demand forecasting.
Oracle Retail Merchandise Financial Planning integrates data across channels to auto-generate demand forecasts. It also enables the optimization of product mix and inventory. This transition from manual to automated retail planning boosts margins and satisfaction.
Oracle Retail Cloud Uses Machine Learning Algorithms to Analyze:
- Past sales data
- Customer buying behaviors
- Industry trends and external market factors.
Based on these insights, the platform provides planners with recommended stock levels. It also transfers and replenishes strategies that maximize sales and reduce excess inventory.
By shifting from intuition and spreadsheets to automated forecasting and planning, brands can increase inventory turns. It can also improve availability and reduce write-offs due to overstock. Automation also frees planners to focus on higher-value strategic initiatives.
- Achieving Inventory Accuracy
Concrete automation of certain business procedures has resulted in the seamless workflow of businesses. It also promotes customer satisfaction.
The shift to automated retail planning yields an outstanding financial transformation. Most establishments that implement this automatic procedure benefit a great deal. And this of course includes clothing retailers.
For instance, poor customer experiences due to inaccurate inventory cost clothing retailers huge losses. The estimate for this loss is between $75 billion and $1.6 trillion each year. Oracle Retail solutions enable brands to achieve over 98% inventory accuracy.
This enables them to be accurate across channels through real-time visibility. Alongside this, it also incorporates intelligent store fulfillment capabilities.
Oracle Retail Cloud aggregates and analyzes inventory data from across the retail network. Machine learning algorithms identify anomalies and inaccurate counts. The system reconciles discrepancies across channels. This reconciliation provides immediate precise inventory records in near real-time.
By connecting call center and inventory systems, Oracle ensures agents always have access to various details. It also includes product availability information. This will reduce friction and boost customer confidence in the brand. It also enables agents to convert more calls into satisfied customers and sales.
Given the enormous financial implications, clothing brands are making inventory accurate. This is enabled by Oracle Retail Cloud a top priority. The solutions provide the visibility required to delight customers. It also enables the improvement of associate efficiency and captures incremental revenue. This is done through profitable fulfillment capabilities.
The Power of Oracle’s Retail Platform
Oracle Retail Cloud combines AI, machine learning, and other innovations. This combination assists retailers in reinventing customer experiences across channels.
The platform integrates all commerce operations into a single view. This integration equips call centers to satisfy and engage customers when they shop.
Below Are Key Capabilities for Various Commercial Sectors:
Virtual Assistants – Chatbots handle over 70% of routine queries. This frees agents to focus on complex issues.
Speech Analytics – Call monitoring tools apply speech-to-text and natural language processing. It offers them surface insights that improve processes.
Guided Selling – Machine learning recommends relevant products and guides agents. These guides and agents are equipped with the next best actions to drive add-on sales.
IoT Integration – Connect IoT sensors across stores to observe inventory changes in real-time.
Image Recognition – This tool identifies products, trends, and inventory gaps. Its analysis arises from images on social media and web pages.
Voice Commerce – This utilizes support voice assistants with commerce capabilities. Some of its capabilities include order tracking and product information.
With embedded innovations across AI, ML, IoT, etc., Oracle Retail Cloud benefits a lot of retailers. It also leads, to changes in consumer behavior and technology. The platform empowers agents to provide intelligent service that delights customers.
Integrate Oracle Call Center
In the competitive clothing retail landscape, brands need intelligent call center solutions. These solutions enable the smooth delivery of exceptional omnichannel experiences.
Oracle enables agents to provide personalized, informed service through AI-driven innovations. It also offers them with inventory accuracy, demand forecasting, real-time visibility, and more.
Most leading fashion brands are future-proofing their customer service with Oracle Retail Cloud. Their activities are seeing impressive results. The time for clothing retailers to transform their call centers with Oracle is now.