The fashion industry today is growing at par with the technology industry and has learnt to embrace the changes instead of falling behind. With product and process innovations and advancement of smart fabrics, fashion is seeing a lot more than just some new colours and designs. Let’s take a look at the biggest innovations today:
- Wearable technology
Smart watches, Fitbits and other trackers were just the beginning of this trend. Wearable technology has extended to clothing that changes its very nature depending on the environment that the wearer is in and the situation they need to tackle. Just imagine only one piece of fashion clothing that changed its colour and texture depending on light, heat and sound conditions surrounding you.
- 3D printing
Imagine having an object that could physically print out everything you wanted – a new pair of shoes, a unique design you saw by a designer you could not afford, a pretty dress for a summer day out at the beach or even a handbag you’ve been eyeing at the local store for days. 3D printing will become a $3.1 billion industry by the end of the year and grow to $5.2 billion by 2020. (Forbes). This innovation means that every John and Jane Doe now has the power to create their own products with no middlemen to hamper the process.
- Use of metadata
Every action you take on the internet leaves its footprint in some manner or the other – from signing up for a newsletter to just visiting a page. This makes it very easy for a company to gather data about you as a user and the volume of data, with regard to the size of the market, is immense. Knowing how to use this data to leverage sales and create new strategies that are more profitable are what will differentiate players in the fashion industry.
- Digital trial methods
From abof’s 3D trial rooms to alteration services and more, the need for returns and refunds will slowly become a thing of the past. Digital buyers have the option of visualising how clothing will look on them before they buy it and request alterations and exchanges before being in possession of the physical product. This reduces the cost of returns, shipping, etc. for companies and puts buyer satisfaction at the top of the charts.
- The future of technology
The processing power of computers has doubled almost every 18 months since their invention and shows no signs of slowing down. With needle points of information that make it easier for an entrepreneur to understand the fashion needs of the customer, technology will transform the way the industries grow and interact with one and other. The winners of this will be the ones who are able to embrace this change and grow with it.