TFIA AGM & Executive Meeting Highlights
A great turn out at TFIA’s Annual General Meeting! The event saw a recap of TFIA's projects for the year as well as highlighting the direction for 2016. We were also privileged to hear guest speakers: Chris Vincent (Director, Practicology), Adam Lloyd (General Manager Product, Jeanswest) and Tim Ada (Department of Economic Development, Victorian State Government). THE TFIA : THE PAST YEAR AND MOVING FORWARD
Our CEO Kiri Delly gave an overview of the TFIA Projects and activity over the past year, and what a year it has been! In case you missed out, you can see a recap here.
David Giles-Kaye then presented plans for TFIA's strategy going forward into 2016. This highlighted a focus on training/skills development and representation including:
- Training and resourcing a creative, entrepreneurial and technically advance workforce.
- Representing industry to governments and national & international forums, presenting and prosecuting industry relevant topics & activities.
- Development of Textile and Fashion Training & Resources Network. A one-stop-shop training offering that is industry specific, flexible and National.
- Inclusion of Textile & Fashion Hub within Network.
- Integration of relevant government programs.
AUSTRALIAN ONLINE STATS: METRICS THAT MATTER
Chris Vincent (Director, Practicology) was our first guest speaker, outlining Practicology, as a digital strategy agency.
Practicology is an independent ecommerce consultancy with a global footprint, having worked with some of the biggest retail and consumer brands in the world – from Tesco to Nike. Practicology offers an end-to-end service to ecommerce and multi channel retailers. The team help businesses formulate a winning strategy, underpinned by sound commercials, and supported by the right skills, processes and technology. Their services include consulting, data & analytics, digital marketing & trading, training and design & content.
Key points covered by the presentation included:
- Multichannel strategy
- Conversion rate optimisation
- Acquisition marketing
- Future-proof multichannel businesses
- Organic acquisition
- Contract strategy for more effective customer communication
Chris illustrated how 'big data' can be used to benefit businesses, pointing to conversion rates, engagement, site speed, marketing mix and analytics of setups and usage.
Want to find out more about the metrics that matter and how they apply to your business? You can visit the Practicology site here! The team also have a a series of free reports you can download and a great blog going full of industry insights and tips that are definitely worth a read.
INNOVATION IN THE FASHION INDUSTRY
Adam Lloyd (General Manager Product, Jeanswest) outlined the necessity of innovation in the fashion industry and provided some insight as to how Jeanswest approach this challenge. Australian brands are facing a retail landscape that insists change, with the influx of international retailers to the Australian market, online retail and the growing consumer demand for transparency putting pressure on businesses to step-up. In such light, innovation has become integral strategy for brands to stand out and remain competitive, "Necessity is the mother of all invention".
The presentation highlighted seven key elements that Jeanswest have adopted to encourage innovation. These included: raising the bar, creating content, confidence, being unique, alignment, their people and transparency. Adam also noted the significance of having 'One Vision' for a company, that aligns across all areas of the business.
The presentation also touched on topical issues for today's industry, referencing Fashion Revolution and the growing consumer demand for transparency. Adam identified that the Jeanswest customers are becoming more interested in quality and wanting to know how their clothes are made. In response to this, Jeanswest are innovating their product offering with the addition of the Snap Shot Series Homespun collection launching this December. The range features T-shirts that are 100% Australian made product, from the cotton and manufacturing of the garment through to the feature print design.
It's great to see an Australian company continuing to excel and working to make use of Australia's capacity to manufacture! We're excited to see how the Homespun range develops in 2016.
DEVELOPING A FOOD & FIBRE SECTOR STRATEGY
Lastly, Tim Ada (Department of Economic Development, Victorian State Government) presented on Victoria's Future Industries Fund and the development of the Food & Fibre sector strategy.
Tim provided an overview of the Future Industries Fund including the: 2015 'Back to Work Act', $500 million Premier’s Jobs and Investment Fund, $500 million Regional Jobs and Infrastructure Fund and Victorian Industry Participation Policy.
The presentation addressed the Priority Sectors, specifically the ‘Food & Fibre’ sector; it’s key opportunities, the current business make-up within the sector and current activity around developing a sector strategy. Main themes from industry consultation included:
- Linking businesses to innovation capabilities and accelerator services.
- Providing targeted, locally-relevant education and training close to the place of production.
- Focusing on ‘demand side’ innovation (market-led design etc).
- Reducing compliance costs for businesses.
- Driving integration and simplification of planning frameworks to support growth.
- Assisting business to access markets, including addressing barriers to entry.
You can find out more about Victoria's Future Industries Fund and the development of the Food & Fibre sector strategy via the link: www.yoursay.business.vic.gov.au We are interested to see how this strategy develops and the extent to which it can benefit the TCF industry.
THANK YOU TO OUR SPEAKERS AND MEMBERS!
A big thank you to all our wonderful speakers and member attendees! Remember, this is YOUR association and it's strength and success will only be through the support it receives from it's members. We look forward to working with you in 2016.