The future of fashion is data-driven: by leveraging data on consumer trends, brands can create pieces consumers are most likely to purchase.
Fashion and Luxury
The fashion & luxury industry is going through a massive transformation. New technology, changing customer trends and demands are gradually transforming the industry.
Many stores and brands use data to predict the rise and fall of trends. The benefits of using data in fashion are numerous: from only producing pieces consumers will actually wear to reducing waste and connecting the right consumers with pieces they will enjoy.
The future of fashion is happening online, and brands will have to adjust how they create and sell clothing to make it work in a digital world.
With more shoppers taking advantage of online shopping, fashion retailers have to follow suit. Consumers increasingly prefer the convenience and speed of online shopping, even if it means not being able to try an item on in person. The most successful fashion brands of the future won’t just make their clothing available online—they will also create an immersive digital shopping experience with things like virtual fit or sizing tools, virtual showrooms and virtual stylists. Fashion brands will also leverage technology like AR and VR to allow consumers to “try on” items digitally from the comfort of their own homes.