Fashion is one of the world’s largest sectors, with an estimated value of $3.3 trillion by 2030. It’s surprising to hear that the way it functions now hasn’t altered much in the last two decades.
This is partly due to the ease with which low-cost manual labour can still be found in many nations, as well as the ability to outsource any high-cost manufacturing expenditures. However, growing worries about fair pay, pollution, and the need to satisfy today’s hyper-connected customers have paved the way for new and interesting technology.
We do, in fact, live in the era of technology known as the “insta-age.” Customers have been conditioned to desire fast access to the latest trends as soon as they reach the catwalks, thanks to social media, which is transforming the way fashion is consumed. Younger generations, on the other hand, seek items that can be personalised to their requirements and tastes in order to stand out from the crowd. Furthermore, ‘mass-produced’ or ‘fast-fashion’ apparel appears to be losing favour.
Many designers and companies must embrace the latest technology to push the limits of manufacturing, production, marketing, and wearability as customers’ actual lives become increasingly entwined with the digital world. We’ve picked together some of the most cutting-edge technological breakthroughs in fashion today, from artificial intelligence to the rise of mobile commerce and blockchain.
AI has been used by companies to improve consumers’ shopping experiences, analyse data, boost sales, anticipate trends, and provide inventory-related advise in recent years. In retailers, chatbots and touchscreens are being utilised to improve customer service and provide personalised product recommendations. One of the most profitable AI applications is trend forecasting and supply chain management. Algorithms that monitor customer journeys in order to connect clients with the appropriate items are part of AI technology. It has captivated brands such as Boohoo, Tommy Hilfiger, and Marni, and can synthesise the worldwide market in seconds.
2. Novel fabrics
Novel materials are perhaps the future of fashion, as they provide yet another avenue for designers to differentiate themselves while also appealing to those seeking a more sustainable choice. Project Jacquard is a set of conductive threads that may be used to weave touch-responsive textiles such as garments, tablecloths, carpets, and anything else made of fabric. Ebb is a color-changing cloth that may be programmed to modify our attitude or environment in the future. Look for unique materials in stores all across the world, as this technical trend appears to be unstoppable. Super-strong spider silk is also being developed by firms like Bolt Threads and EntoGenetics.
ColorFab 3D, a technology developed by MIT researchers, is one of the most recent color-changing interactions in printed items.
3. Trade on the go
According to BigCommerce, two-thirds of millennials prefer to purchase online over in-store. Apple and Android Pay, which are continually developing with fingerprint and face identification, are on their way to becoming the main payment method for retail purchases. Vinted and Depop have taken over the secondhand fashion sector, displacing eBay and Gumtree. The fashion business is being transformed by mobile commerce.
4. Blockchain
The technology that underpins bitcoin and other digital currencies is known as blockchain. On the blockchain, “blocks” are digital data units that record transaction information. Through technologies like as inventory management, this may be utilised to efficiently track and document clothes apparel and supply chains.
Conclusion
One of the most important industries on the planet is fashion. As clients’ real lives become increasingly entangled with the digital world, many designers and businesses must embrace cutting-edge technology to push the limits of manufacturing, production, marketing, and wearability. Fashion’s future may be found in novel materials. Apple Pay and Android Pay are quickly gaining traction as the preferred form of payment for retail transactions. eBay and Gumtree have been supplanted by Vinted and Depop in the secondhand fashion market. Mobile commerce is changing the face of the fashion industry.
