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brianburell · 4 years

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Future of Fashion Lies with Technology

Valerie Steele, an American fashion historian, puts, “I think that a lot of our fashion history shows do touch on important issues. Fashion and technology obviously do, because technology is impacting fashion in so many ways, from computer-assisted design to the way we actually purchase clothes online”.

Indeed, technology has become one of the highly applauded value-generating elements in the fashion industry. Brands are focusing on a digital-first approach. They are committed to leverage tech advancements to strengthen their diversified assortments offered through online channels. The head-on sustainability agenda is inspiring them to invest in a tech-driven business model for longer-term transformation and serve a growing breed of customers who adore sustainable fashion.

The fashion industry is witnessing changes as brands are pioneering exciting business models leading to new paths of profitability. As 2020 will experience tectonic shift with fashion companies pushing tech-integrated services in the market, the future of fashion will undeniably be driven by tech currents as companies will keep their fingers on the pulse of market demand.

Delivering top-end consumer experience is a priority, and technology is available at the perusal of fashion brands to make them digital right. Here are some tech-centric fashion business concepts that will revolutionize this highly competitive space in the coming years.

Technology Changing the Future of Fashion

Blockchain making fashion transparent

The technology well known for fusing immutability in business transactions, is now finding its way in the fashion industry. Statista reveals that the Italian fashion and luxury sector is showing a keen interest in blockchain because of its capability to make supply chain traceable while preventing counterfeiting. Fashion is all about offering exclusivity and desirability, and nothing is better than a technology that can assure the authenticity of every transaction. Whether it is about supply chain activities or procuring raw materials unethically or involving child labor in production or emitting hazardous waste in the environment, blockchain can keep a check on all. Fashion brands can create a digital identity of the apparel and accessories, thus thwarting the economy of fake goods.

Moreover, it is offering food for thought to socially and environmentally aware consumers as they shift towards ethical consumerism and sustainable fashion. Blockchain is facilitating a win-win solution for all stakeholders by calibrating the information. Brands can experience more customer engagement as consumers develop trust in them. Blockchain is still in its nascent phase as far as the fashion industry is concerned. The future is perky as it will bring enormous opportunities for the brands to show consumers that they care for them.

Digital Stores rendering immersive and convenient experiences

In an attempt to fine-tune the customer experience and differentiate themselves from competitors, fashion brands are investing in digitization and unconventional business models. In a “winner takes all” economy, fashion companies are keen to offer a value proposition to their customers by implementing cutting-edge tools for a marvelous in-store experience. With interactive devices like AR-powered smart mirrors, AI-powered apparel design software, tailored suggestions driven by big data, interactive catalogs in 3D, digital tags, virtual fitting rooms, agent-facing bots, automated and contactless checkouts and selfie kiosks; brands are underpinning revolutionary ways of selling through brick and mortar stores. It would not be superfluous to say that fashion brands are going phygital.

The stores of the future will offer RaaS (Retail-as-a-Service), where innovative technologies will spellbind customers by providing on-demand services in the stores. Research by Raydiant justifies that retail is not dying; it is technologically evolving and redefining customer experience with new engagement models. Undoubtedly, in the quest to become the best-in-class fashion retailer, companies will continue to offer an immersive environment powered by new-age technologies.

Clothing-as-a-Service (CaaS) offering luxury fashion easily

The rental and resale model is an emerging concept in the fashion industry. With the potential to tackle the problem of overconsumption, this model is all set to end permanent ownership of the clothing and begin circular fashion. The craving for newness in the younger generation has inspired brands to come up with this creative way of refurbishing the apparel.

Clothing-as-a-Service is a subscription-based model in which apparel and accessories are provided to customers for temporary use. Gaining widespread momentum as key players are experiencing customer engagement through this model; fashion by subscription heavily relies on the latest technology. Advanced tech like AI is helping entrepreneurs in this segment to predict inventory and demand patterns. They are designing highly interactive web-based platforms where users can place an order after taking smart trials. Needless to say, fashion retailers will harness digitally advanced ecosystems in the coming years to add CaaS in their omnichannel portfolio.

Bespoke apparel transferring style ownership

Bespoke apparel now no more signifies a tailor-made outfit; instead, it is an emotion, a sentiment that is driving customers to design their own clothes. The trend of empowering customers to custom-create their clothes is a paradigm shift in the fashion industry that not only makes customers, style owners but also contributes towards sustainable fashion. Powered by sophisticated tools like apparel design software, fashion lovers are customizing any form of apparel with few clicks.

Apparel companies and brands are investing in AI and AR tools that augment the online experience of designing clothes, thus helping brands to simplify their technology footprint. Moreover, customers are attracted to create a statement piece that reflects their personality and taste. Therefore, the future of tech in fashion is optimistic as companies are moving towards a made-to-order style that is faster to market and agile to implement.

Katalyst Technologies can Catalyze your Journey to Future

The unfolding implications of disruptive technology will continue to impact players in the fashion industry. If you are still on the other side and are exploring ways to enter into the realm of tech-driven fashion, Katalyst can help. We are a leading IT company with immense capability to support the digital transformation of businesses in all verticals. iDesigniBuy is our established product that offers customization software for fashion apparel and accessories. Our experts are continuously working on removing hurdles while paving a path for digitization coupled with sustainability.

Collaborate with us.

Source Link - https://katalysttech.com/blog/future-of-fashion-lies-with-technology/

#customizationsoftware #appareldesignsoftware #fashiondesignsoftware #clothingdesignsoftware #fashioncustomizationsoftware

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idesignibuy-blog · 6 years

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brianburell · 4 years

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Best Practices for Fashion Retailers in 2020 - Offer an Elevated Omnichannel Experience

Omnichannel retail is the new norm. The fashion landscape is changing fast as more and more customers are becoming omnichannel shoppers. This breed of customers employs at least one digital channel in their shopping journey. Precisely, fashion retailers are dealing with a new class of customers. They explore products on the website, gather reviews from social media, compare prices on online marketplaces, and buy it from the physical store. And by any chance, if your brand is not available on any of the channels, your future is bleak. While may it sounds depressing; this is the reality!

Your limited presence can abate your brands’ reach against your digital counterparts, thereby putting a full stop on your journey. According to Apparel Omnichannel Survey by Mckinsey, “The average omnichannel customer purchases 70% more often than an offline-only shopper and reports spending more than $2,000 on apparel each year”. The figures indicate that customers are moving faster than retailers can anticipate. This is also why a concrete omnichannel strategy is essential for long-term sustainability.

Omnichannel Retail: Orchestrating Unified Customer Experience

The term is simple to understand yet complex to implement. Omnichannel retail connotes to a strategic business model that demarcates the business presence in a full-fledged digitized economy. The intent is to offer a seamless and fully-integrated buying experience across all the possible touchpoints which customers use to interact with bran. Regardless of the type of store your brand must deliver consistent and robust value, coupled with excellent user-experience.

Best Practices For Flawless Omnichannel Fulfillment

Undoubtedly, it puts pressure on retailers. They not only have to manage multiple channels simultaneously but also craft specific strategies for each channel, creating synergies at the brand level. To further electrify the situation, customer preferences keep on changing, forcing fashion brands to remain agile and adaptive at the same time. Whether you operate in an emerging market or a matured market, you should follow these best practices to drive profitability and strengthen the bottom-line of your business.

Optimize every channel: Channel optimization is a determining factor for omnichannel success. Including a channel for the sake of competition is unhealthy until you make customer-centric investments for growth. Every channel offers a different and viable opportunity as customer expectations differ across channels. You must define signature moments for every touchpoint and create an action plan to deliver them at the right time to the right customers. It is recommended to locate the points of engagement and reinforce them to appease the shopping experience.

Work on your digital capabilities: Digitization is embracing every vertical, and the fashion segment is no exception. Advanced technologies are offering multiple ways to digitize every channel, whether it is in-store or online; it is now possible to enhance the user experience by leveraging technology. Chatbots, virtual stylists, virtual trial rooms, apparel customization software, digital catalogs, 3D visualization are some of the interventions showcasing how brands are employing tech in fashion for creating an immersive environment. As a fashion brand, you must give up on the piecemeal approach and seize new business opportunities while serving the customers through digital transformation.

Offer personalized experiences: Personalization is mandatory if you wish to offer a best-in-class omnichannel experience. It can be a key differentiating factor when it comes to enticing customers with tailor-made suggestions and recommendations. Personalization rests on the premise that every customer is unique and should be offered a bespoke experience for long-term engagement. Thus, fashion retailers must strive for personalization on every channel. You can craft a customized merchandise strategy tailored based on what your customers value when they shop through a specific channel. Apparel customization and fashion personalization is a leading strategy that empowers customers to design their own outfits online and in a physical store. At the same time, they enjoy a highly engaging shopping experience. It is recommended to remove channel silos for a seamless shopping experience.

Focus on table stake as well as differentiating factors: Irrefutably, differentiated experiences can drive higher margins when managed strategically. Fashion brands must understand that table stake factors are bare minimum requisites for every channel and can’t be compromised. Surprisingly, their presence may not lead to customer satisfaction; however, their absence may cause customer dissatisfaction. For example, shopping convenience is a table stake factor that should be available across all the touchpoints. However, it can’t create a competitive advantage unless coupled with innovative strategies to attract, retain, and foster relationships with the customers.

Create actionable insights: Lastly, it is equally essential to understand a customer journey map across different channels and capture the right data and convert it into meaningful analytics that can support decision making. It is futile to offer a one-size-fits-all solution to your customers; instead, you must study their behavior, shopping patterns preferences, motivations, and sentiments by relying on big data and artificial intelligence. When customers are offered data-driven practical and highly personalized experience, shopping becomes fun for them, which is one of the most compelling levers for achieving customer delight.

Katalyst Technologies: Your Ideal Digital Partner

The retail framework will keep on evolving as new trends will penetrate in the economy. However, customer experience will always remain evergreen inspiring brands to invest in the right technologies to cater to their customers who are unique and demanding. If you are a fashion retailer or manufacturer with a spark to excel in omnichannel retail, you must collaborate with the right partner who can help you to streamline your brand’s presence across all the channels. Katalyst is a leading company that facilitates the digital transformation of the businesses by helping them embrace and employ disruptive tech in their business model.

Let us hear from you.

Source Link - https://katalysttech.com/blog/tips-for-fostering-omnichannel-experience/

#apparelcustomizationsoftware #customizationsoftware #appareldesignsoftware #fashiondesignsoftware #clothingdesignsoftware

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brianburell · 4 years

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Customization and Personalization: Key Trends Fashion Retailers Must Watch

Do you remember the golden days, when mass production was at the peak? Popularized by Henry Ford, mass production was one of the most successful strategies of its time when customers were delighted with the lowest prices and standardized products marketed with the absolute uniformity. However, as time evolved and technology took a front seat in the economic growth, every vertical, including fashion, gradually started embracing tech in one or the other way. And, in recent decades, the advent of smartphones powered by terrific data speed has changed the equations for consumers as well as manufacturers. The trend that began with online shopping in fashion has now reached to an ultimate level where customers are designing their own clothes and businesses are producing on-demand.

From Mass Production to Personalization: From Tangibility to Intangibility

The journey from mass production to mass personalization has been mesmerizing. We began from a point where cost was the dominating factor and landed in the era where pricing doesn’t matter as long as consumers are receiving highly engaging experience. What matter are the sentiments that customers are developing with the brands by crafting and shaping the products and services they buy. Contemporary customers do not consume for the sake of consumption; instead, they consume for status signaling and self-pride. This is the turning point for brands as they are now not selling merely products; instead, they are offering ways to foster the emotions and personalities of consumers.

However, technology not only brought advancements but also retreat in some contexts. For example, the fashion industry is notorious for emitting more greenhouse gases than aviation and shipping combined, invariably bringing ecologically sensitive fashion bloggers, buyers, admirers, critics, and players on a common platform. The implication is that customers are moving towards sustainable fashion that is circular and viable with a reduced carbon footprint. And, here again, personalization comes into the picture. A customer would love to adorn a blazer or suit with his initials imprinted on it without worrying if the style is in trend or not.

Similarly, nobody would ever want to give up a T-shirt that was received as a gift with a personalized message. This is the swag of personalization, powerful enough to turn the fashion drift. This exemplifies how personalization is more about emotions and intangibility than buying the products available off-the-shelves.

Customization: Favorite Fashion Trend of Millennials and Gen Z

Customization is a philosophy that believes in creating a unique value proposition for every customer. Customization is a subset of personalization where customers can customize a pre-existing product by applying designs, prints, images, colors, monograms, and texts.

With ultra-sophisticated tools in the market that can help online and offline customers to become fashion designers, fashion companies are enticing millennials and Gen Z population with exclusive designs. Whether apparel, footwear, or jewelry; companies are extending opportunities to customize them as per their preferences.

Retailers are tapping into this privileged experience by creating meaningful engagements for their customers. They are adopting a direct-to-consumer business model where customers do not need to enter into the realm of haute couture to enjoy luxury fashion. They can create their own using ultra-modern technologies and flaunt their creative liberty. Thus, customization is altering the landscape of fashion as millennials and Gen Zers are creating irreplicable ensemble embellished with feelings.

Personalization: Fashion one step ahead

Personalization is all about shoppers. It strives to deliver a genuinely singular shopping experience to users by giving them complete freedom to design apparel or accessory from scratch. The fashion companies are taking the love of bespoke clothing to a new level by playing on the personalization card.

One-on-one personalization has become a holy grail, and brands are competing hard to achieve it. They are offering the best-in-class experience to their customers by allowing them to choose everything right from fabric to pattern to accent. By relying on machine learning and data-driven capabilities, brands are tailoring personalized recommendations and experiences to engage their customers.

Personalization is and will continue to rule the roost because it has the potential of delivering value. And modern customers crave for brands that help them to reflect their values while maintaining the style charm. They like to stay loyal with the businesses with purpose, those who stand for their mission. The increasing demand for signature items and exclusive embellishments is motivating brands to embrace innovative business models to serve these unique needs. Thus, personalized fashion is not only about flaunting one’s persona; it is about ideals and beliefs that one believes in when he/she choose to titivate himself/ herself with a specific brand’s collection.

What’s in for Fashion Retailers?

The speed with which customization and personalization are spreading their wings in the industry, the time is not far when every fashion retailer will trade on these models. And those who turn their backs may be thrown out of the competition as customers and their preferences dictate the current economy. Gone are the days when seasonal fashion was desperately awaited. Even the luxury brands like Louis Vuitton, Burberry, Gucci, Dior, Dolce Gabbana, and other label designers are showcasing the power of personalized outfits on the runway and extending the privilege for their customers.

The love for non-conformity and desire to stand out of the crowd has brought modern customers to an entirely new level. They are investing in a personalized fashion, a fashion that speaks for them, a fashion that is sustainable and a fashion that can never go out of the style. It is the high time when fashion retailers and entrepreneurs must offer hyper-personalization and let their customers feel extra special.

Katalyst Technologies can Help

The dynamics of the fashion industry are changed as we have moved from push to pull economy. Instead of pushing products based on forecasts, fashion is now pulled as per the demand. The journey has been beautiful, but now we are here in the age of tech-driven fashion, enabling customers to personalize their style.

If you are playing in the fashion industry and are keen to remain abreast with trends while becoming a top of the mind recall brand, Katalyst can be your ideal tech partner. We offer state-of-the-art customization solutions with the seamless capability to customize fashion apparel and accessories. Our reputed product iDesigniBuy is a one-stop solution for your customization needs. With immense expertise and profound knowledge of industry trends, our experts are staunched to catalyze your voyage as you sail to deliver an ultimate personalized experience to your valued customers.

Ready to Win? Contact us.

Source Link - https://katalysttech.com/blog/customization-and-personalization-in-fashion/

#customizationsoftware #appareldesignsoftware #fashiondesignsoftware #clothingdesignsoftware #fashioncustomizationsoftware

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