World Cycling Forum on Why Increasing Speed to Market is Vital
The Netherlands/Switzerland – What is now being initiated in the industry with the switch to omni-channel, is also happening in other sectors. The lady on this photo explained during a recent Sporting Goods Congress why the fashion sports sector wants to be closer to the market; why they want to increase their speed to market.” The Financial Times has described her as shaper of change for the fashion world. She is a keynote speaker at the upcoming World Cycling Forum.
The World Cycling Forum is organized by the World Federation of the Sporting Goods Industry (WFSGI) and Bike Europe. This Conference puts the cycling industry’s near future into perspective. That future will be dominated by online ordering consumers. What changes this brings to the sector will be described by a series of expert speakers. They will narrow down that future perspective with detailed presentations on distribution strategies, on supply chain changes, on outsourcing and many others.
Consumer centricity is the main theme of the World Cycling Forum 2017 that take place next June 7 and 8 in Porto, Portugal. The theme is linked to rapidly growing online sales for all sorts of products – including bicycles and e-bikes. This is triggering a switch to omni-channel distribution strategies with a more consumer-focused approach.
6 to 8 months long lead times
The switch to omni-channel, is also happening in other sectors. What it brought about in the sports fashion sector will be explained at the World Cycling Forum by consultant Janice Wang. She works for companies like Reebok. What she will explain at the next June held World Cycling Forum is that changing consumer behaviour does not longer allow for suppliers to operate with lead times as long as 6 to 8 months. For the fashion sports sector this is a reality when dealing with textile suppliers from Asia. In the bicycle industry, these same 6 to 8 months long lead times are not unusual either.
Janice Wang is the co-founder and CEO of the Alvanon Group. Under her leadership Alvanon has attracted and nurtured top-tier apparel analysts, business strategists and technical experts. The Group now operates in 89 countries and has evolved into one of the global apparel industry’s most sought after business and product development consultancy organizations.
Benefits of being fast
According to Janice Wang, speed is the tool to attract customers and buyers nowadays. Zara is a prominent example of a company with excellent speed to market. Zara is currently the world’s biggest fashion retailer. Their customers visit their shops on average 17 times per year compared to 4 to 5 times at regular apparel shops. They come more often because Zara’s collection renewal takes place at a much higher pace compared to regular retailers. This also leads to more price stability because there’s less outdated stuff in the market.
Bringing down working capital
Increased speed to market brings also big benefits to bike dealers. Increased supply chain flexibility that leads to just-in-time deliveries increases their turnover rates. Bigger bike dealers will demand that. Next to that Janice Wang will also explain that increased speed to market brings down working capital tied up in stocks. An important factor when looking at the expected growth of the e-bike market in Europe.
World Cycling Forum 2017
Janice Wang is one of keynote speakers of the World Cycling Forum 2017. Next to expert-speakers the World Cycling Forum features an interactive format with numerous Q&A sessions. This will bring about an industry-level dialogue between speakers and participants. The World Cycling Forum targets top managers and decision makers of bicycle and e-bike industry in Europe, US and Asia.