Digital growth and the use of new Technologies in the Fashion Industry
Digitalization is not a trend, it is a game-changer that affected all markets. In fashion, it affected customer experience, product development and performance, marketing dynamics, intellectual property and provided new technological peers interacting with fashion designers in innovative types of contracts. Not only new and improved shapes were created, but also new strategies to boost businesses and attract customers. Nowadays, 51% of the clothing purchase is online. The customer experience is changing the way of doing business, the collection and use of data. Although retail
stores are not growing, fashion is still an emerging market and allows to build a strong brand without opening a physical store.
Technology is developed to bridge the gap between manufacturers, wholesalers and retailers.
Which are the impacts of Fashion and technology in practice?
There is the emergence of new and disrupting business models that do not necessarily focus on physical stores, but in brand empowerment and digital growth. Social media has an indispensable role in creating and supporting your brand’s image, tracing and identifying your target audience. In addition, technology has made possible the creation of cutting-edge and eco-friendly materials. Recycled fabrics, from organic kinds of materials: orange peels, mushroom, or even algae.
Please check the interesting article on how Ferragamo launched a capsule collection made with “Orange Fiber”
Among all technologies, IoT is also applied in the modern fashion industry. Products that interact and improve customer experience. Wearables that have digital capabilities and communications, they collect data, brand owners will be capable of better understanding customers and performance of the product sold. Example: https://www.wearablex.com/pages/how-it-works
The use of Artificial Intelligence, VR and Augmented Reality on try-on avatars (measures, waists, hips, variations of fits, fabrics, colors, angles, adjustments, movements…), Virtual dressing rooms mobiles. Apps surely changed the way customers used to shop.