Chico’s FAS, Inc., a leading omnichannel specialty retailer for women that operates Chico’s®, White House Black Market®, Soma® and TellTale™, today provided a business update and boutique reopening plan from the Company’s Chief Executive Officer and President; recent 2020 preliminary sales information; and details on liquidity and cash utilization martech news.
Statement from Bonnie Brooks, Chief Executive Officer and President
The Chico’s FAS Community – our customers, our associates and our shareholders – are at the center of every decision we make as a company, and during this period of temporary closure of our boutiques, that mindset has not wavered. We continue with our commitment to doing the right thing in our business.
As previously announced on April 1, we made the difficult decision to place the majority of our associates on furlough with continued benefits and to temporarily reduce the pay or hours of the majority of our remaining associates, including the entire executive leadership team and Board of Directors by 50%. Our associates in the Distribution Center, which remains fully operational, are receiving full wages to ensure the fulfillment of our healthy digital sales. Across all of our offices and distribution centers, we have implemented enhanced safety protocols that exceed guidelines from public health officials and federal, state and local government.
Strong Digital Sales
Over the past six weeks, we have seen strong customer demand in our digital channels, including increased traffic and sales on our websites and increased engagement on our social media channels. Chico’s FAS digital sales have experienced double digit growth in the six weeks since the company became a digital-only business on March 18, 2020. The Company operates five unique websites for its’ brands. Driving this sales growth and double-digit traffic growth are categories of intimates, sleep, cozy, active and lounge.
Style Connect and Other Technology Investment
Our digital performance shows that we have been well-served by our investments in technology. In mid-March, we equipped our store management with handheld devices that were installed with Style Connect SM, our proprietary digital styling software that enables us to communicate directly with the majority of our customers to drive the frontline business to digital fulfillment. This action resulted in the above-mentioned double digit increases in online sales since the temporary closure of boutiques. Style Connect was designed as a competitive advantage that has further opportunities for increasing sales as we move into our new “post-COVID-19 operating model” as it allows for intimate but distanced connection in a meaningful manner that is resonating with our customers.
Chatbot and voicebots are a buzz word in today’s world, and almost everyone is familiar with them.
But with the rise in the trend of chatbots and voice bots and their market outlook, it has become very crucial for businesses to upgrade the ways in which they engage with their customers.According to Gartner, Artificial Intelligence (AI) will be a mainstream customer experience investment in the coming years.
40% of organizations will deploy virtual assistants and 47% will use chatbots for customer care.Artificial intelligence (AI) is restricting the methods in which businesses communicate internally as well as with their customers.
AI is important for enabling automatic learning and the flexible interpretation of automated business communications.It is predicted that chatbots and voicebots will move from the simple user-based queries to more advanced analytics-based real-time conversations.What is voicebot?A voicebot is an AI and Natural Language Understanding (NLU) based voice channel for communication that functions by converting audio to text format.
The AI technology empowers it to recognize the key makers in the speech and conclude the best response to dialogue.
The Text to Speech (TTS) engine then converts the response into audio to complete the interaction.
We conduct an accurate and reliable COVID Test.
Our qualified phlebotomists trained for safe and hygienic sample collecting during Test for COVID 19.
We are the most trustworthy lab for COVID 19 testing in India.
Get your COVID-19 Test done with Metropolis Healthcare.
Get all the updates about Covid-19 in UAE on Call Doctor UAE.
During the Covid-19 pandemic, we are providing premium home healthcare throughout Dubai & Abu Dhabi.
Bangladesh has Taken the Decision to Postpone the Upcoming Sri Lanka tour to Bangladesh Because of the COVID-19 Pandemic.
For More Details Visit Stumpsandbails.com
The term Intellectual Property (IP) – with prominent forms like patent, trademark, copyright, and industrial design – is indeed a significant driver for the economic growth and the foundation of a consumer thriving society.
