The fashion industry is one of the world’s most renowned and profitable industries. To most people, it is just about what we should wear and how we should look, but the truth is that it is more than that.
The trillion-dollar industry uses emerging trends and technology to impact many areas of our lives. Some areas where technology has reshaped and improved the fashion world are:
Adopting Artificial Intelligence
With artificial intelligence (AI), fashion companies can make designs more likely to be loved by their target market. Also, lower the risk of developing techniques that won’t sell using AI algorithms that forecast trends and analyze customer preferences. AI assists retailers in improving their demand forecasting, pricing decisions, and product placement for customers.
Virtual and Augmented Reality Experience
Many VR and AR products are designed to aid the customer experience. For instance, with an AR fitting room, customers can try on outfits virtually from the comfort of their homes without visiting any stores. Experience with virtual and augmented reality can strengthen customer and brand ties and be cost-effective.
Smart Tech Clothing
Smart tech clothing is a wearable technology that keeps track of a person’s activity, sleeping habits, and health parameters. It stores information like heart rate, blood pressure, and body temperature. So now customers look good and have more information about their health.
Buy Now, Pay Later Business
Fashion companies are now integrating online payment platforms and wallets like Apple Pay into their services. Customers can pay for their desired fashion products in bits without fear of the product selling out.
Personalization and Protection of Products
The industry has always faced the problem of counterfeit goods and how they tend to spoil the reputation of the original brand. Tech has been able to help fashion brands personalize and protect their products through description tags and QR codes that let customers know which fashion product is authentic and which is fake. Security tags such as microchips are incorporated into clothes to help brands and stores keep track of their products.
Over the past decade, there has been massive growth in the fashion industry, and there is still more room for improvement. Today’s technologies are changing the way you wear fashion. In which area of style do you project a technological advancement? Share your ideas in the comments section below.
Join the conversation; follow us on Facebook, Instagram, and Twitter at GoSpeedHub.
Photo By iStock
