Fashion technology is fast becoming a growing industry that is supported and funded by highly respected and recognised incubators and accelerators including Silicon Valley’s Fashion Tech Accelerator and New York Fashion Tech Lab who guide new fashion tech innovators. With these tech developments fashion and retail will become increasingly energetic and robust pushing the industry to become more sustainable and transparent. In short, it means moving away from an industry which has become fueled by misalignment, misdirection, miscommunication, and for the most part, it is unsustainable on so many levels.
Modernising operations within the retail and fashion industry includes the streamlining of processes alongside the development of far more effective systems, these being the most indispensable aspects and components of the fashion industry and tech sector. Data analysis, social media, AI, and AR help to guide purchasing and essential business decisions while supply chain technology makes processes more efficient.
Beyond the current buzzwords and the trending concepts of voice interface, blockchain, artificial intelligence, and augmented reality, what do we have to look forward to when it comes to the fashion industry’s technological developments and how are they shaping the future of fashion?
Contactless Payment integration with smartphones, smartwatches, and smart fashion is both convenient and stands to prevents theft. The first high-tech and fully automated stores require zero checkout, no cash, and no salespeople.
Facial Recognition technology is used to pay and in addition identifies customer satisfaction. It also provides insight into consumer purchasing decisions and processes by identifying individuals and in turn it develops personalised experiences.
So, that’s the tech side of fashion life. But, there is a concept to consider that has nothing to do with technology other than for the fact that digital tech such as websites and social media tools may be used in the process of promotion. It is, however, a concept which is highly important when it comes to developments in the fashion industry, directly connecting with people, and making the effort as a brand to stay ahead of the curve.
The Visceral Experience is on the rise. Fashion brands and department stores need to create spaces or pop-ups environments that offer consumers and fans authentic emotional connections and engaging experiences. The focus is shifting to community, entertainment and education, whether that includes tech or not.