Over the last decade, the men’s apparel market has shown steady growth, outpacing even women’s apparel, and is expected to contribute upwards of $40 billion in sales to the global apparel market by 2019. Retailers have responded by expanding their menswear offerings, while struggling to understand how to sell apparel to men.
Revenue and market share metrics only show what’s already happened (aka menswear presents a huge opportunity for sales growth), but not what to expect going forward to achieve financial success. To predict the future of the menswear market, retailers are turning to customer experience (CX) metrics, otherwise known as Customer Experience Intelligence.
CX metrics are a proven predictor of future consumer behaviors, and in turn, predictors of financial results. CX metrics also provide insights into customer loyalty, customer satisfaction, likelihood to recommend a brand or product, likelihood to return, and more. The illustration below shows what retailers can learn about the men’s apparel market by looking through the prism of CX Intelligence.