Economic Fashion Way Forward 2022

Economic Fashion

If 2020 presents more challenges, 2021 accelerated future strategies. That has inspired the implementation of the establishment to address those challenges. The most effective and innovative new method of these times has been the use of unprecedented technology. No matter where one a placed in the value chain. The need for technology has never been as strong as it is today. Whether in the area of fashion production, distribution, or retail, no player can withstand the edge offered by technology. The year 2022 will see significant growth in technology applications and developments in the fashion industry surrounding artificial intelligence (AI), virtual reality and Augmented (VR & AR), blockchain, and mobile commerce.

Artificial intelligence

Fashion Industry
Artificial intelligence

AI will be the future of all fashion items. The fashion industry is geared towards using AI in a variety of areas of its operations from manufacturing, to marketing. And sales of products to understanding consumer behavior, awareness, product development, and demand tracking. In the coming years, the technology will increase consumer knowledge, improve marketing systems and improve the sales process through intelligent automation.

Chatbots and touch screens use in stores to enhance customer awareness and customized product suggestions. It has become commonplace to find some form of AI chat technology on fashion websites that is used to improve customer experience. The great success of fashion requires the right combination of designs and patterns to design a costume, making it attractive to customers. AI can do that without finding the necessary trends and introducing new trends while minimizing predictor error. The future product design will be so driven by AI that it will emerge as the designer himself.

AI in marketing will cost $ 19 billion by 2027 and the epidemic has been a good time for companies to hasten its adoption.

Virtual & Augmented Reality

The increase in online shopping during the epidemic has enabled retailers to take advantage of their online activities and integrate it with their in-store offerings. Omnichannel has gained additional value and as a result, the focus has now shifted to developing integrated shopping information for both channels. This is where the use of AR and VR is most popular. The widespread use of VR empowers fashion customers to try out clothes that offer greater precision before buying.

The technology uses customized measurements, to meet the real needs of consumers to experiment before purchasing. The result is customer engagement and long-term retention and if based on the creation of awareness on ever-growing social media platforms technology takes a prominent position in fashion marketing.

The market is still alive and well and will continue to see the emergence of more technology service providers in the coming years. That will enhance the knowledge of online and in-store fashion products that may reflect making digital style a personal touch in the future. The technology is also used in clothing as Louis Vuitton designs ‘skins’ for League of Legends characters & Dress sells digital versions of Fartech’s inventory. Ralph Lauren has partnered with Bitmoji to empower its customers. With a Bitmoji look with a new compilation and matching cabinet from Polo Ralph Lauren. Such interactions demonstrate the irresistible power of the wardrobe.

Blockchain

Economic fashion

Another changing technology in the future fashion will be blockchain. That a successfully used in the background work that integrates a supply chain and product development. As it can be a great tool for transparency, tracking, and efficiency in several retail stores. It allows all its members from vendors to resellers to connect and be able to exchange information securely.

It can therefore use effectively to track and record fashion sales in a series to provide tracking. And track technology and asset management. The technology creates a secure ‘digital body’ ID link for the entire product. And records it to the blockchain where it can track. Every movement of the recorded product in the supply chain. Thus preventing the entry of counterfeit products and any attempted diversion efforts. On the other hand, experts also see front-end performance. Using RFID on a large scale to ensure internet, automation, and integration.

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