The online Spanish fashion sector faces the future with optimism and in a digital key. The economy picks up and companies take advantage of the pull of the recovery to strengthen their growth. Actually, the fashion sector has us accustomed to great results onlinewhich makes it the protagonist of one of the categories with the greatest and best progression in the digital environment.
The fifth edition of Vente-privee.com-moda.es Barometer of Fashion Companies in Spain carried out by and sponsored by, based on the experience of some 300 companies, confirms its good feelings and focuses on the reasons for this exciting rise.
The fashion business works and especially that of online Spanish fashion. Internal consumption recovers and companies do not hesitate to speed up your expansion: investment, employment, internationalization and a firm commitment to new and varied distribution channels; four essential chapters that hide a common denominator that is increasingly visible, essential: the eCommerce.
Key investments in the online Spanish fashion sector
As revealed by the Barometer, most of the firms interviewed are optimistic about the progress of their business: 70% point out that they raised their turnover during the past year and 86% are confident that they will improve their results throughout 2015.
In order to consolidate this positive development, Spanish fashion companies plan new investments, but also online Spanish fashion companies that already know the advantages of the digital channel. 64% of the companies plan to increase their investments substantially or moderately this year, and another 30% consider keeping them stable compared to the previous year; but the most remarkable thing is the destination of these disbursements, directed fundamentally to the online area and , main sources of investment for 25% of companies.
This effort has much to do with the growing importance of eCommerce for Spanish fashion companies. For the first time, the fifth edition of the Barometer asks companies about which distribution channel will be most important for their development in the medium and long term. 47% point to the channel, while 22% indicate the online channel as the most relevant for the future.
The online growth of Spanish fashion, a strategic decision
It is not the first time nor will it be the last that we have focused on the successful relationship that the fashion and eCommerce sectors have maintained since the beginning of electronic commerce. This is unequivocal proof, but so is the increasingly frequent opening of new channels by veteran firms and others who decide to make the leap.
And they do it guided not only by the changes in consumer behaviorbut also for The impact that the digital environment has on the Spanish online fashion sector. According to the Barometer, for 58% of the companies consulted, consumers are currently less cautious with spending and go to stores more frequently. In practice, for 51% of the companies the average purchase amount increased moderately or substantially in 2014, while 61% attribute this increase to online business.
and corroborated by two new forecasts for 2015: 57% of those surveyed estimate that the workforce will increase destined for its digital channel, and 91% of online Spanish fashion expects to increase its sales.
In the words of Fernando MaudoCEO of Sell Privee in Spain, «The commitment of Spanish companies to international growth and in the digital environment has not been a reaction to the slowdown in consumption in recent years, but rather a strategic decision that continues to underpin the formidable position of Spanish fashion in the world ».
The online Spanish fashion sector also generates employment
In 2014, more than half of the fashion companies with a decision center in Spain increased their number of employees compared to the previous year. In 2015, six out of ten plan to expand their workforce, but also its management team. Almost half of the companies have already strengthened their senior leadership or plan to do so, especially in the areas of expansion, product, communication, finance and eCommerce.
The reinforcement of personnel in the expansion department stands out, linked to the growth plans that most companies are carrying out motivated by the trust generated by their businesses.
Internationalization and new markets for Spanish online fashion
In 2014, they improved a turnover that they expect to exceed in 2015 thanks to international sales and the recovery of domestic consumption. Despite the recovery of the local market, A large part of the companies maintains its commitment to internationalizationa strategic field during the last years of crisis.
Only 6% of the companies affirm that the improvement of the local market has slowed down or may slow down their international expansion, while 57% of the companies plan to land in new countries during the current year, eleven points less than last year. Mexico, the United States, the United Arab Emirates, or Germany become the new reference markets ahead of and Russia, in which Spanish online fashion has also managed to consolidate its stores in recent years.
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