Considering all sectors, technology is revolutionizing how businesses operate in fashion industry. Tech impact has been a difficult issue to ignore. There are changes in consumers’ culture in all sectors of retail and digitalized brands are no exception. Efficient processes have been involved through use of data analytics, artificial intelligence and virtual technology. Its touching the fashion industry in multiple ways:
Artificial intelligence (AI)
Fashion industry is now used in this AI. In fact retailers are so much into digitalizing their machines, tools and gadgets for their own benefit. It’s through social media where customers to provide brands contained with data. The data received by the industry enhances easier way of predicting trends thus reduced gap of inputs versus outputs.
The AI helps in collecting analyzing, sorting and organizing data into relevant categories which are used to know customers’ requirements. This app is recognized I making fashion easier and more effective.
Internet of things (IoT)
This is the biggest opportunity reaching and changing the fashion industry it integrates the world letting firms to interact on fashion facts every day. Through retail vision study, over 55%of fashion industry decides to adopt the internet of things to as a way of improving customers’ experiences. It also contributes in exploring new designs to ensure satisfaction of customers. Digital benchmarking in business has been treated as a way of coping stiff competition locally. So the fashion industry, through technology it’s getting smarter, growing faster and also getting personal. Although back in 1980s rate of technology was low, many luxury fashion retailers have been dominated by more innovations and fashion products developments.
IoT has also led to access of mobile commerce where the Internet is readily available through smartphones. With access to social media apps and communication apps like instagrams, shows that phones are squeezing their way into the business world. It’s an era of connectivity where fashion products and services can not only be ordered but can also clear payment transactions like Apple and Android Pay.
In this era, fashion customers, through smartphones can easily browse various items and make purchase orders instantly. As a result of this, e-commerce technologies brought waves of transformations for the fashion industry. This is where virtual reality emerged. However, at times brands may suffer from customers who receive fashion products that don’t their expectations. New augmented reality has then changed the game by merging the physical and online world of retail. At least there are places or changing rooms where one can fit in the preferred fashion as per customized measurements. Over time these platforms have provided added value to industries by an increase of customers’ satisfaction. Fashion customers can now physically see products all by themselves in the intended space and decide before purchasing.
Digital transformation is contributing to changes that were never imagined and current expectancy is that it will advance rapidly. Digitalization as a whole is completely evolving in the fashion industry. Introduction of new technologies such as internet of things, artificial intelligence and augmented reality, are expected to gain more advances catering all needs and concerns. Therefore its high time for retailers in the fashion industry embraces the new fashion landscape otherwise be left behind.