The mighty industry of fashion has been on a straight-line graph when it comes to innovation. The easy access to literally cheap labor that costs around two dollars a day per person, and the human nature of resistance towards change is the main culprit here.
But…
Now, the landscape of the fashion industry is on a roll because of the hyperactivity happening in this age of tech saturation and AI (Artificial Intelligence). From tailoring experience individually to marketing, all of them are the key to surviving in these modern-day fashion demands.
Customers are becoming more and more choosy, and with the competition at its peak more than ever, it is difficult to maneuver through the noise to the top where prospects can actually see your brand.
Thanks to the early moves, fashion businesses that have adopted early got the first mover advantage, making them thrive in the market.
This is what we are here to discuss today. Major technology advancements are reshaping the slow-moving fashion industry into a robust hyperactive industry.
Now, without further ado, let’s dive right into them.
Internet, data, and decisions
Putting a product in front of the customers is not that simple. What should be the price point, when the collection should be launched, and will it sell as expected, these are the critical questions that should be answered in the first place before airing up the product.
Frankly speaking, these are the exact moves that make or break a brand. But since the technology is available from the North to the South, and insights are available at the fingertips, taking on them is relatively easy now.
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Anyhow, multiple renowned brands have started to take the aid of big data coupled with AI-based tools to make better business decisions leading to growth.
If you want that growth for yourself then adapting is the way to go.
Transparency
Thinking about creative and sustainable fashion also means considering supplier transparency and working conditions.
Even though businesses promote their environmental initiatives and regulations, the majority of them are opaque regarding the origins of their suppliers and the conditions under which workers are employed in those firms.
More than half of the 250 biggest fashion businesses, according to the 2022 Fashion Transparency Index, still withhold the identity of their first-tier suppliers. Customers can’t be certain they’re purchasing from a business that respects the rights of workers and the environment with that kind of information.
On the other hand, some businesses are actively working to make it simpler for customers to understand the origin of their clothing, which is where digital ID comes in. Currently, some businesses are depicting transparency through maps and apps that show where exactly have they sourced their product from.
So, with the addition of tech to fashion, people actually can get their favorite products while leaving a positive change to this world.
Reducing the waste
Speaking of the change, one of the biggest problems with the fashion industry that shouldn’t go unnoticed is the waste it creates.
According to Earth.org, 92 million tons of clothing end up in landfills every year. To reduce this number, various organizations are encouraging people to stop buying new clothes and wear the clothes they already own.
However, for a large part of the population, especially with children, this is not possible.
Even if you want children’s clothes, you can’t keep them for a long time because children grow quickly.
Apart from the impact on the planet, it’s also hard on parents who have regular expenses, most of which aren’t cheap.
To solve this problem, aeronautical engineer Ryan Mario Yassin created a brand called Petit Puri. His idea was to find a way to create clothes that would grow with children and be worn for months and years. Some customers report that it lasts for years and fits perfectly to their child’s body.
So, all in all, this is one of the most rewarding reshapes of the fashion industry from our point of view.
Choosing the perfect made easy
The task of choosing the perfect cosmetic product for your specific skin type can be difficult.
A lot of times people buy new beauty products and end up not liking them because the color doesn’t match or causes breakouts etc. This leads to more and more boxes of makeup and skin care products ending up in landfills while they are still full.
That’s why researchers have been studying how to combine artificial intelligence and beauty to ensure customers buy the right products.
In World Wide Talks 2023, Adam Gam – Chief Marketing Officer at Perf Corp, talked about the innovative fashion work growing at Perfect Corp. Perfect Corp has developed an AI shade recognition system that can scan your face and choose between available colors and the one that best suits you.
They also created an AI feature that helps identify skin characteristics and recommend products suitable for your skin. So, if that goes well, it can create a profound positive impact on the fashion industry and the earth.
The bottom line
The need to adopt these agile technologies is certain and most importantly, it is the key to surviving in the super competitive trillion-dollar fashion industry. The trends are changing, how well you will accept and act accordingly determines your chances of success.