Technology has been transforming the fashion sector in recent years. Artificial intelligence (AI), virtual technology, and other technologies are redefining the strategies in the fashion world.
The retail sector is also developing as a result of these technologies. As is the need for retailers to adapt to the changing landscape and embrace the fashion industry’s pivotal moment. But could these fast-paced changes really be of help in the fashion industry?
Ways Technology Is Helping the Fashion World
1. Price Recommendation for Fashion Designs
Artificial intelligence and ML can assist in determining the proper costs for fashion designs. These technologies can also keep a watch on competitor brand prices as it provides automatic calculating algorithms. These algorithms can take inputs in the form of raw material costs, product costs, and even predicted profit amounts.
It helps to obtain a fair price for the products that are also reasonable in their own right, taking into account all manufacturing expenses. The most exciting aspect of this is that it can be utilized for both small-scale and large-scale operations.
2. Visual Search
Visual search scans and detects user-input images and returns the most relevant search results. This is similar to a text-based search nut with just using images. Customers can now search for what they want without having to explain it. This makes online shopping more convenient and enjoyable.
This technology is made possible by AI technology through computer vision. Users can capture screenshots of online outfits, and recognize gear and accessories in the image. Users can then find the same outfit and shop for similar fashions using AI-enabled apps.
Visual search is available in apps like Pinterest and Google Photos.
3. Fashion Trend Prediction
Social media has been referred to as both the beginning and the end of trends. Machine learning models can be trained based on the data provided by clothes.
These ML models can be monitored and maintained through machine learning model operations. Machine learning model operations help data scientists and operations experts collaborate and communicate. MLOps also help to manage the ML lifecycle.
The ML models can be used to detect trends to predict what will be the most popular clothes on the market after a given length of time. This can assist fashion designers in designing items that take into account such trends. As well as thinking of their improvisations and additions to the trend.
The ML models also assist them in identifying outdated trends. It also allows fresh and inventive marketing ideas to assume their proper place in the market.
4. Better Customer Experience and Fashion Product Suggestions
AI and ML technology has been used by brands to improve customer shopping experiences, analyze data, and boost sales in recent years.
To improve customer experience and deliver individualized product recommendations, chatbots are being used. It’s practically impossible to go to a fashion brand’s website these days without seeing some sort of AI chat technology. It is usually used to improve the customer experience.
AI tech also includes algorithms that track customers’ actions to match them with the appropriate products. For example, whenever you make searches for a specific product, AI can recommend relevant products to you.
5. Improving Fashion Shopping Through Customer Personalization
Personalization is critical to a company’s success. There is a large amount of customer data available to be accessed and researched as a result of significant data innovation. Deep learning, when combined with business data, enables fashion companies to track individual client purchasing patterns
Marketers are relying on the knowledge of AI technology to understand customers’ expectations. This will impact their shopping experiences based on purchases, and other style preferences.
6. Introduction of Smart Clothing and Devices Through IoT
The internet of things (IoT) is a network of objects (‘things’) that are embedded with technology that allows data to be exchanged and connected over the internet. In the fashion industry, this is one of the most exciting and fast-evolving technological breakthroughs. This is demonstrated by the most fascinating advancements in clothing technology and wearable technologies.
Also multi-functional designs, responsive sportswear, and other digitally-enabled things are paving the way for the rise of techwear. Wearable technology, which began with the simple smartwatch and is now controlled by firms such as FitBit and Apple, has taken over the fashion accessory market.
7. Easy Payments While Shopping
Every day, mobile technology advances further. From Insta shopping to smart wallets, mobile commerce is the ultimate digital tool. It has not only changed our daily lives, but it has also become one of the fashion industry’s fastest-growing categories.
Mobile commerce has brought a more streamlined type of shopping to this era of connection. With our smartphones, we can now not only purchase online but also make simple payments using digital wallets like Apple and Android Pay.
In fact, according to BigCommerce, two out of every three millennials prefer to purchase online rather than in a store. This shows how mobile commerce is transforming the fashion industry from top to bottom.
8. To Virtually Try-On Outfits
Combining the physical and online worlds of shopping is one of virtual reality’s most exciting uses. This is particularly true in the fashion industry, where virtual reality allows customers to try on clothes visually.
This delivers greater precision due to the unique measurement functionality. It also enables the utilization of augmented reality technologies. It also means that shoppers may be more likely to purchase things after trying them on.
For example, apps like DressingRoom use augmented reality to allow customers to try on garments on an avatar. The avatar is personalized to their exact measurements before purchasing them.
As avatars and virtual platforms engage and retain customers for longer, these platforms improve the online purchasing experience. Customers may now see the goods in person or in the designated environment before making a purchase.
Conclusion
The fashion industry is embracing technologies that serve a specific purpose for both retailers and customers. These technologies provide them with more options to choose from. These options include virtual trials and image-based search results.
As discussed in this article, technology impacts the fashion world through fashion trend prediction and price recommendation. Also through visual search, Easy payments while shopping, and many other ways. Thus it is evident that technology is revolutionizing the fashion industry and the world.