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ASIAN DEVELOPMENT BANK: $2 TRILLION FINANCING GAP IS HOLDING BACK TRADE

By PYMNTS  |  February 2, 2023
 | 



A “huge financing gap,” estimated at $2 trillion globally, is holding back
international trade.

Steven Beck, head of trade and supply chain finance program at the Asian
Development Bank (ADB), told ANC that figure is up from $1.7 trillion years ago.

Small and medium-sized businesses (SMBs), especially those led by women, have
been most impacted, with these underserved businesses being held back from
optimizing their place in trade, job creation and development, Beck said,
according to the report.

“The past few decades, there is an enormous impact that international trade and
supply chains have had on development in Asia and the alleviation of a lot of
poverty in the region,” Beck said. “But we’re not going to be able to maximize
the gains from trade and supply chains in development if we aren’t able to fully
include [SMBs] in that whole process.”

Beck told ANC that ADB has studied “deep-tier supply chain finance” and found
that it would enable financing further into the supply chain, provide more
support to smaller companies and increase resiliency.

In a Jan. 24 blog post on the ADB website, Beck wrote that supply chain finance
is one of the fastest-growing parts of the financial world — with volume leaping
from $330 billion in 2015 to $1.8 trillion in 2021 — but it has mostly
benefitted Tier 1 suppliers and left SMBs behind.

Extending financing to the smallest suppliers in the supply chain would add
jobs, increase economic growth and add transparency to supply chains, Beck
wrote.

“Of course, if implementing deep-tier supply chain finance were easy, it would
already be in wide use,” Beck wrote in the post. “There are hurdles to its full
implementation.”

To overcome these hurdles, global trade must make more extensive use of digital
technology, legislatures must define what deep-tier supply chain finance
entails, and industry must determine their preferred methods of such finance so
they can be approved by legislators and regulators, Beck wrote.

“With some effort and attention we can close that funding gap and drive
transparency through supply chains to make them more resilient, green and
socially responsible; deep-tier supply chain finance offers us a promising way
forward,” Beck wrote.

In April 2022, Axis Bank — the third largest bank in India — signed an agreement
with ADB to support supply chain financing products, including one-year working
capital demand loans.




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STITCH FIX TAILORS TURNAROUND STRATEGY WITH AI, PERSONALIZED OFFERINGS

By PYMNTS  |  December 10, 2024
 | 



Stitch Fix, the online personal styling service, began its fiscal year 2025 with
a clear vision to reinvigorate its business and return to growth by the end of
FY 2026.

Despite some challenges in its first-quarter financial performance, CEO Matt
Baer said the company is making strategic moves to strengthen its market
position by elevating client engagement, introducing a “freshness of inventory,”
and leveraging artificial intelligence (AI) to optimize its operations.

“We’re delivering on our vision to be the most client-centric, personalized
shopping experience,” Baer shared with analysts Tuesday (Dec. 10) during the
first-quarter earnings call. “We’re reimagining our client experience, creating
flexibility in our experience, and improving acquisition economics. We’re on
track to successfully transform our business and return to growth by the end of
FY 2026.”


CLIENT EXPERIENCE AT THE CORE

The first quarter revealed changes in how Stitch Fix is approaching its customer
base and evolving its services, Baer said.

One of the main areas of focus has been increasing the “newness” of the product
offering, which has been integrated across various categories, Baer said. In the
quarter, Stitch Fix boosted the penetration of newness in its inventory by 40%,
aligning its merchandise more closely with current trends and customer
preferences. This push to provide customers with fresh, relevant styles is key
to increasing engagement and driving repeat business.

“Our clients are responding positively to the newness we’ve introduced into our
assortment,” Baer said.  

To further enhance the client experience, Stitch Fix introduced greater
flexibility in its service offering, Baer said. Clients can now receive up to
eight items in a shipment, which allows for a broader selection tailored to
individual preferences. The increased flexibility is designed to provide more
value to customers and drive higher engagement levels. This personalized
approach is supported by a revamped AI-powered inventory tool, which the company
continues to enhance for better assortment curation.

“Stitch Fix was built on personalization,” Baer said. “We are also engaging our
client segments through a new personalized approach to marketing.”


PERSONALIZED MARKETING

As part of its methodical approach, Stitch Fix has refined its client engagement
strategy, Baer said. The company has adopted more targeted, personalized
marketing strategies to better serve its clients across different segments.
Through tailored promotions and new capabilities for rotating holiday offers,
the company aims to meet clients’ needs more effectively, particularly during
the busy holiday shopping season.

Additionally, Baer said the company has focused on leveraging new promotional
capabilities built from the ground up. These capabilities are designed to drive
deeper connections with both new and existing customers, especially during
high-traffic periods like the holidays. Baer pointed out that these enhancements
are helping Stitch Fix better serve its clients and gain share in the highly
competitive online retail space.

“These promotional capabilities are enabling us to bring Stitch Fix into
consideration during the holiday season,” Baer added.


AI AND DATA ANALYTICS

AI is a key strategy for Stitch Fix, Baer explained, because it’s integrated
into every facet of the business and is crucial to the company’s ability to
drive engagement and improve retention. Through AI-powered algorithms, Stitch
Fix can personalize styling recommendations and inventory assortment to meet the
unique preferences of its clients.

“For us, AI is in our DNA and a core part of our value proposition,” Baer said.
“We use it methodically and cost-effectively to drive engagement and
reengagement. It’s a key component for us to unlock the strength we’ve seen in
our promotional capabilities. It’s something we’ll continue to lean on and it
will continue to be an area of competitive strength for us.”

In terms of client reengagement, Stitch Fix has seen positive results. Baer said
reactivations are up 17% year over year, thanks to improvements in the user
experience and the more targeted, personalized marketing approach.

“That’s been a big focus of ours,” he said. “As we continue to improve our
AI-driven experience and targeting capabilities, we can go back to our previous
clients and give them an enhanced experience.”


POSITIONING FOR GROWTH

Despite the challenges reflected in its first-quarter results — including a
12.6% year-over-year revenue decrease, to $318.8 million, and a 3% decline in
active clients (2,434,000) — Baer remains optimistic.

“I’m pleased with our strong start to the fiscal year, and I think we have the
right strategy in place to return to growth.” Baer added.



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