A lot has changed in the fashion world in the last several decades, technology has influenced the entire fashion industry– making all types of fashion more accessible to a large spectrum of consumers.
Beginning in the mid-1800s, fashion brands were sought through retail catalogues – allowing access from even the most remote locations. Fast-forward 100 years and the most effective ways to which to reach the consumer included magazines and television commercials. In the last twenty years, consumers have been introduced to a revolutionary technology in the form of computers and the Internet.
Fashion trends are influenced by several factors including, celebrities, climate, creative explorations, economical, social and technological. Examining these factors is called a PEST analysis. The forecasters of fashion can use this information to help determine growth or decline of a particular trend.
Global fashion companies are shifting their focus on the consumer—and prioritizing personalization in their strategic efforts to ramp up loyalty and sales.
Today, consumers are able to search their favourite designer, brand or retailer online or through their phone and order whatever they desire, in the matter of minutes. Accessibility to your favourite fashion or brand has broadened more than ever imagined – from mobile technology to social media and more.
For suppliers; sales, trend research and inventory management can be done from almost anywhere, and the decision-makers can see what’s working and what doesn’t in real time. Technology has changed the fashion industry forever.
This change applies to everything in the industry, from design and marketing, through to production and sales.
To stay ahead of the curve in today’s fast-changing retail landscape, companies need to understand which emerging technologies currently are shaping operations and bottom lines.
Get This Book “Millennial Fashion Revolution” it will be of a great help to you. Enjoy!