Under Armour is a tech-savvy retailer. The company has a broad ecosystem of connected fitness products, including Smart shoes, watches, and earbuds. At CES this year, the company announced a further expansion of its ‘suite of connected products,’ by launching its fourth generation HOVR connected shoe, and integrating with Samsung’s Galaxy Smartwatch, and JBL wireless headphones.
Under Armour’s range of connected apparel provide consumers with real time health and ‘coaching data,’ including cadence, gait analysis, and heart rate, as they exercise. In the future, the company plans to utilize AI to provide users with recommendations on how to achieve their fitness goals or to suggest dietary plans, based on the data collected.
By providing such personalized information, Under Armour is adding value to its customers after they have purchased its products. As Jim Mollica, a senior executive at Under Armour has claimed: “Personalization is the absolute key to providing value back to any consumer.”
Speed To Market As Another Way Of Adding Value
Developing connected devices and employing AI, is not within the capabilities of every retailer. How else then, can retailers add significant value to consumers?
An effective way is by increasing speed to market. Consumers today are impatient, and demand items that are on trend as soon as possible. Being ‘out of stock’ on a highly sought-after item is an open invitation for your customers to check out your competition. How can faster speed to market be achieved? Through supply chain optimization! Optimization requires digitization of manual processes. Read our previous blog to learn more.
Download Essential Market Research On The Retail Supply Chain
We recently conducted market research and interviewed 500 retail executives across the U.S. and U.K. to find out:
- To what extent they had optimized and digitized their supply chains.
- What were their most significant supply chain “pain points.”
- What they expected were the biggest benefits to their business from supply chain digitization.
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