Mobile Device Payment Automation for Checkout

Stay ahead of the curve by leveraging innovative automation technology in Fashion Retailing

The fashion retail industry is one of the fastest-growing sectors in the global market. A Research and Market report estimated that the global fashion retailing industry was valued at $89.61 billion in 2022 and is expected to reach $122.6 billion by 2027. Its growth can be attributed to the ever-evolving fashion trends and consumer preferences. Tech innovations, in particular, are changing the market landscape of fashion retailing, further boosting growth via automation that allows for faster and smoother transactions.

As the industry continues to expand amid the rising growth of automation, fashion retailing businesses are prompted to keep up with the latest trends and use these innovative technologies to boost their competitive advantage. With the rise of e-commerce use driving market sales in the retail sector, it’s important to incorporate automation software that streamlines your customers' shopping experience. Below, we look at how automation is boosting growth in fashion retailing.

4 ways automation can boost a fashion retailing business

Processes transactions smoothly 

Automation allows you to use payment processing software that enables quick and convenient transactions. With payment processing software, your customers can simply input their payment details when purchasing goods and services from your store. A digital tool like PayPal allows customers to pay for clothing items by linking their credit or debit card and bank account. Consumers also won’t have to worry about fraud, especially since this software automatically connects them with banks or financial institutions, thus improving your retail store’s overall security and building business credibility. With cashless payments, consumers can enjoy a smoother, faster checkout process, which can help retain customer loyalty and boost sales.

Automates subscription billing

Automation also allows you to use subscription billing software that facilitates the automatic invoicing and payment collection of your customers’ recurring subscriptions. Softrax offers subscription billing software through the Softrax Revenue Management System, which can help streamline revenue through a single cloud application designed for handling complex billing, recognizing revenue, and managing different types of contracts for efficient payment collection. Using subscription billing software can especially benefit fashion retailing businesses such as subscription boxes since it prevents late payments and allows for convenient management of invoices. Through automated subscription billing, you can reduce time spent on managing customer billing and instead focus on improving customer service to boost business growth.

Enhances customer relationships

Another advantage of automation is it allows you to potentially attract future consumers through customer relationship management (CRM) software that manages your business’ interactions with buyers. A Forbes article on the benefits of CRM highlights how it can provide valuable customer data to get to know their purchasing behaviors and preferences, thus allowing you to personalize your communication for higher customer retention. Insightly is an example of CRM software that keeps customer data in one place to help your fashion retailing business establish strong consumer relationships. A CRM can also boost your business by using customer data to sell relevant apparel that they may prefer based on past purchases.

Manages your inventory

Using automated tools to help manage your inventory can also do wonders for your business. Our previous article on The Benefits of Automating mentioned how retail management software can help you check your inventory by providing accurate information on your current supply chain. NetSuite Inventory Management is an example of retail management software that provides a real-time view of your business inventory. This software helps you avoid surpluses or shortages of inventory that can cause unnecessary costs for your retailing business. 

Automation plays an important role in boosting the growth of the fashion retailing industry. From enhancing customer satisfaction and managing inventory to processing payments smoothly, this tech innovation is poised to enhance the business models of fashion and retail companies worldwide.

This post was written by Amelia Braile