How Technology is Impacting Fashion Industry
Due to rapid modernization, every sector has revolutionized due to the emergence of technologies. In recent years, technology has influenced the fashion industry, by generating a revenue of $664m in the year 2020.
Technology has transformed the entire concept of brick-and-mortar shops into e-commerce stores, in order to showcase their brands to a wider audience. In light of these technologies, fashion brands, and various products have gained accessibility and made the entire process much easier.
I am sure, you might be eager to know about the impact of technology in fashion industry, let’s have a look at these technologies:
- Artificial intelligence (AI)
Artificial Intelligence has a wide application in organizing, analyzing, and collecting unorganized data of various brands and products. It engages the users by forecasting trends and simultaneously boosts the sales of the website.
AI and machine learning software automatically organize virtual searches and other content by offering labelling features at product description. It offers exceptional target prospects with the use of timely intelligence, which facilitates businesses to resolve their issues, challenges by stimulating leads.
Most of the AI-driven software furnishes voice and natural language inputs to resolve queries of their customers by identifying and analyzing better opportunities for helping their sales department. In addition to this, it offers institutional infrastructure and facilitates transactions for efficient and promising management.
- Internet of things (IoT)
According to the latest research, 70% of retail decision-makers across the globe are already preparing to improve and personalize customer experiences with the help of the Internet of Things. IoT allows people to connect and interact with electronic devices via a secured internet connection. This technology interacts with the users to understand their queries and issues in order to ensure a personalized user experience.
These technologies manage traffic, logistics, delivery, and shipment efficiently by detecting issues and eradicating them to ensure efficient management. Also, IoT sensors present in inventory systems make business operations easier and error-free by sending accurate data and information to the ERP system software. It also eliminates the need to hire a workforce, to manage your stocks which automatically reduces the chances of stock-taking and other issues.
- Predictive Analytics Solutions
Predictive Analysis consists of algorithms and analytical solutions that fetches the past behaviours, shopping history, and product preference of the user. They boost the sales of the websites by deciding the appropriate price for their products, all this is accomplished by predicting users’ pricing patterns in order to influx their sales.
When predictive data is merged with AI and ML it becomes capable of correlating data from different sources and databases, in order to offer personalized feeds and recommendations for their customers. Along with this, it facilitates the websites by providing effective prices on its products to attract potential traffic and customers. Predictive analysis monitors prizes and offers, on different products and brands during the festive season. In addition to this, the implementation of predictive analysis reduces online credit and debit card frauds. It has the potential to detect and prevent frauds before the completion of the payment, which increases the chance of secured transactions.
- Mobile e-commerce Platforms
It is recorded that more than 50% of traffic on e-commerce websites is due to mobile phone users. With a sudden boost in the usage of mobile phones, the fashion industry has experienced a sudden and rapid boost. Through these smartphones, fashion freaks can purchase products from their favourite brands across the world. Along with this, digital payment gateways offer ease while e- payments. Mobile applications facilitate users to discover and shop their desired products at their comfortable place. It uses Geolocation to access their customers by locating their location and offers personalized content to ensure customer satisfaction.
These applications comprise chat rooms and messenger applications to ensure assistance to their customers. It also uses Augmented reality in order to influx their sales and business. They use wireless technologies to sell their goods, offer service for their products, carry out financial transactions, seek information and exchange important data regarding websites. . Along with this, it offers a detailed description of products, plus customer reviews as an assurance to their customers.
- Virtual Reality (VR) and augmented reality (AR)
In reference to a survey, 78.65% of users desert their carts before reaching the payment gateway. This means that they are not satisfied with the display screen of the products. Technologies like AR and VR have the potential to engage people with your website’s products. Virtual reality and Augmented reality has the potential to indulge in traffic by transforming your website into a virtual showroom, which is very much similar to the brick-and-mortar showroom and can be accessed from your place according to your convenience.
This technology enables shoppers to try the desired products by VR-enabled try-on avatars, which allows users to visualize products before purchasing them online. Also, AR offers great help in Digital Marketing, by offering ease and perfection in digital advertisements on websites.
Blockchain technology is the most crucial element of an e-commerce website. It offers a secured and trackable transaction from carriers to their respective banks. Plus, it ensures that the exchange of data and information is carried out with full transparency and safety.
Blockchain is a kind of database, which is different from the typical database. It stores digital data and information using chains in the form of blocks. Each block comprises unique information, in order to distinguish them from each other.
Whenever a new piece of information arrives, it is immediately transferred to a new block, once this block is filled, it gets chained to the previous block. It assures that data does not get deleted from both ends and manages to share the same documents as opposed to individual copies. Every time the product moves forward towards the supply chain, it is recorded on blocks, to avoid any sort of inconvenience to its users.
- Laser stamped Technology
Laser engraving machines are very efficient in producing goods at a faster speed, as these machines are composed of minimal moving parts with a quick-burning capacity of raw material. It offers high accuracy and permanence on its manufactured products. Precisely, in most of the marking machines, the size of the laser beam is 0.001 inches, which is very small, due to which the error margin is ± 0.0005 inches.
This method is an everlasting process, as it does not use any ink or chemical substance for printing designs or patterns. It uses the technique of vaporization and heating for designing clothes. Due to this, small designs, graphics, and detailed patterns can be easily engraved with accuracy. Along with this, the laser is capable of engraving on any substance, including ceramics, wood, paper, concrete, and even stone. The biggest advantage of laser technology is that it is an eco-friendly process and is easy to use.
- 3-Dimensional Printing Technology
Three dimension printing has started influencing the fashion industry from shoes to accessories to clothes. This technology facilitates users to print items with high accuracy and precision. In addition to this, it is a faster option for printing clothes. However, it reduces fabric waste by 35%, in order to minimize fabric wastage. In addition to this, it is useful for manufacturing buttons, laces, shrugs, rings, accessories, and bags of complex designs.
Along with this, 3D printing is environmentally friendly and uses colour fabrics to avoid water pollution and wastage of fabric. It also encourages designers to innovate fabrics with ease at a faster rate. This is an effective method to manufacture and print clothes of all types and sizes with efficiency, at a very rapid pace.
- Robot Automation
Robot Automation is the future of fashion technology, it offers great assistance while handling the goods in a warehouse. Robots are efficient in monitoring mass production,high-mix, or low-volume orders. They reduce the cost of infrastructure, daily wages and can work with high speed and with high precision. These robots are very effective for carrying out complex and challenging tasks like sewing the sides and edges of garments while manufacturing them.
They are good at sewing clothes with 3D shapes and sizes, which is a complex task to carry out manually. In addition to this, they can be easily programmed to pick, stack heavy and bulky fabric to carry out the manufacturing process. Along with manufacturing, robots are good at testing fabrics and clothes to offer assurance and satisfy their customers. Testing a fabric involves inspection of yarns and joints before processing a final product by applying stress on fabrics.
Due to modernization, technologies had an impact on every sector, including fashion design and industries. Technologies like AI, IoT, VI, AR, and many more have personalized user experience in order to boost sales. Over the years, the manufacturing process of fabrics, shoes, accessories have also evolved. Technology has influenced the manufacturing process towards eco-friendly and sustainable in order to ensure the safety of the environment. All in all, the fashion industry has always transformed rapidly, and due to these technological advancements, it has become easier for the users to access brands like Max fashion and follow their favourite fashion influencers on social media platforms, in order to stay stylish.