A Brief Introduction to the Global Fashion Benchmark
& how it can help your business grow
At the beginning of April, we published our latest Global Fashion Benchmark Report. This report benchmarks the fashion customer service level for the industry across 33 cities and 3 segments – luxury, mid-luxury, and mainstream fashion. The goal of this study is, and always has been, to contextualize companies’ frontline performance levels in the fashion industry.
At AQ, we like to focus on our mystery shopping programs – surprise, I know – but we don’t just deliver mystery shopping data out of context, it’s important that it makes sense to the industry to which it is applied: the Fashion Industry.
This industry in particular fascinates us, and the result of that fascination is the report we publish every two years.
The Global Fashion Benchmark Report provides a contextual analysis of where a fashion retail business ranks in the overall scheme of things. We believe that combining the data gained from a good mystery shopping program the Global Fashion Benchmark report can help our clients take the correct steps towards a more completely improved customer service experience.
Why is it important to know where your company may sit contextually in your given industry? Many companies run analysis on their competition, of course – trying to figure out what their competitors are doing, where they are succeeding, where the home company can improve themselves in comparison. It makes sense. So why look at the industry as a whole? After all, most companies can get far by simply keeping an eye on the competition – no one tries to compete with the entire industry. The question is, what would you do, if you knew that your customer service level was in the lower segment of the industry as a whole? Forget your immediate competition, but a chance to understand how you are doing within the industry? That changes the game.
By delving deeper into the customer service levels in the fashion industries, companies can better understand what the industry’s customers are really looking for and thus deliver it.