Forbes, By Casey Tobias, SAP Customer Marketing
Fashion is fickle. Trends are ever-changing, fleeting as the wind. What was “in” last month – even last week – isn’t necessarily “in” now.
Perhaps this is what contributes to the steady decrease in the average number of times someone wears an outfit, with $460 billion worth of wearable clothing discarded globally each year. Naturally, this gives cause for concern when it comes to sustainability efforts.
This may leave you wondering how you can keep up with the latest designs without contributing to textile waste and environmental harm.
Fortunately, businesses like Wipro Limited are here to help you with all your sustainable shopping needs.
Wipro Limited is a leading global information technology, consulting, and business process services company based out of Bangalore, Karnataka, India. With a track record of over 30 years in IT Services, Wipro supports clients across industries in adapting to a digital world.
This, of course, applies to retail manufacturers as well.
While large fashion brands have already been equipped to create new value in discarded garments, niche chains have lacked access to ready-made clothing rental solutions.
Wipro partnered with SAP to develop their Fashion Rental solution that allows such manufacturers to offer online rental of any product while providing the availability schedule, price, and quality certificate with a subscription-based contract model. Even more enticing is the added insurance protection throughout the rental period.
Wipro chose SAP Business Technology Platform software to develop their innovative platform. With their Fashion Rental offering, both the manufacturer and consumer are able to access real-time analytics, which, in turn, allows for an improved customer experience.
In addition to instant, detailed information about the product, Wipro’s Fashion Rental solution also ensures the ordering, delivery, billing, and return processes are all automated. This leads to lesser manual transactions and reduced cost.
With Wipro’s Fashion Rental solution, organizations can open up a new rental revenue model and achieve their sustainability goals through the following outcomes:
- Embrace a circular economy business model. Consumers gain easier access to new and “high-fashion” apparel, while designers and retailers generate recurring revenue from the same product.
- Shrink the industry’s carbon footprint. Empower reuse and recycling behavior to reduce the sector’s overall waste.
- Enable a next-gen user experience. Integrate the web, automated store pickup, returns and billing to improve customer satisfaction.
In a world that is trying to simultaneously balance both convenience and sustainability, it isn’t hard to imagine that renting clothes will continue to flourish as the ideal shopping experience.
If you’d like to learn more about Wipro Limited’s Fashion Rental project, check out their winning SAP Innovation Awards 2021 pitch deck.