E-Commerce Summit: making fashion thrive in a crisis with fancy footwork

For Erica Berchtold, times of ­crisis call for agility and a strong anchor.

Erica Berchtold, CEO of The Iconic, says COVID has forced everyone ‘to become more adaptable, agile, innovative and nimble’. Picture: John Feder.

For Erica Berchtold, times of ­crisis call for agility and a strong anchor.

The chief executive of The Iconic said that while this ­“tumultuous year” had tested the online retailer like everyone else, it had also “confirmed our belief around customer relevancy”.

“Now more than ever you’ve got to understand what your purpose is, what you stand for, who are your core customers, and truly understand what they want,” Berchtold told The Australian ahead of taking part in its E-commerce Summit this week.

She said customers had sought out different products during the pandemic, and it was up to retailers to respond.

“While we were well placed to quickly pivot and accelerate new categories (and) products to meet the post-pandemic needs of our customers, it highlighted how customer behaviour can change in an instant and the importance of having the right mindset — an agile mindset — to be able to make those fast pivots. You have to be incredibly clear about this, especially in the chaotic world we live in right now.”

The retailer had a number of initiatives in the pipeline before COVID struck, including an outlet model for discounted products and a beauty offering. Rather than slow down their rollout, it chose to fast-track them.

“Initiatives, ideas and new ­iterations that would have taken 12 to 18 months have been executed in as little as three months,” Berchtold said.

“This pandemic has forced everyone, both personally and professionally, to become more adaptable, agile, innovative and nimble.”

Since taking on the role two years ago, Berchtold said that the biggest shift in retail had been across social and environmental responsibility, and she believed that The Iconic was leading the conversation.

This includes sustainability and supply chain transparency for the products it sells.

After Berchtold joined the company it launched The Iconic Considered, a way for customers to shop according to their values.

Customers were “incredibly vocal” about these issues, “and they’re the ones with the purchasing power and we need to empower them to make ­informed decisions”.

While she conceded sustainability was “incredibly complex”, it was important for businesses to begin the journey. “Sustainability isn’t about immediate perfection, it’s about progress — ‘progress over perfection’ is the mantra we live by — and it’s something we’ll only make lasting change in if we work together — retailers, brands, consumers, people.”