Fashion's Digital-First Future
Fashion's Digital-First Future
Written in partnership with Launchmetrics, A platform connecting brands with the most influential voices in the industry
By Jessica Michault, SVP of Industry Relations for GPS Radar by Launchmetrics
The fashion industry is in the eye of a technology storm right now. It is getting battered on all sides by big data, the might of social media, the advancement of augmented reality and a global desire for instant gratification. A desire that goes hand in hand with shorter and shorter attention spans of consumers who are easily lured to the next new thing.
The industry is still licking its wounds from last year’s push into the see-now-buy-now arena that, when the dust settled, proved to be much more difficult to adjust to than anyone anticipated. Coverage of the fashion sector continues to see magazines struggling to stay relevant in a digital-first age. And the designers themselves talk about not having any time to be creative when they are constantly on deadline to produce another runway collection, pre-collection or capsule collection.
"...The Ultimate Luxury Has Now Become Time."
In a world that is consumed by the idea of luxury, the ultimate luxury has now become time. Any idea, device or product that helps those who work in this industry become more efficient and effective – that allows them the opportunity to carve out more time to be creative and make human connections – will have a place in the future of fashion.
Fashion will need to be more about creating an experience or a visceral memory rather than just churning out more products. This is where augmented reality (AR) and well-honed data algorithms, which can point to consumer trends, will be key to the future of the industry. Being able to expand and transform a physical space with virtual add-ons, say watching a fashion show right in the middle of your living room or even trying on virtual garments before they arrive in stores could be one avenue to a bright future. And data has already supplied brands with concrete proof that sustainability is something that needs to be incorporated into the design process if brands want to really connect with the Millennial and Generation Z consumers.
"Fashion will need to be more about creating an experience or a visceral memory..."
Finally, the impact of peer advice will continue to be a cornerstone of consumer spending. Tapping into and harnessing the power of influencers across social media platforms will be a crucial way to reach a potential clientele. The fashion world is now saturated with traditional advertising that is trying to shoehorn old concepts into new media platforms. In the future brands need to engage with their customer base on their level. Gucci has already understood this. Its #GucciGram and meme advertisements prove they are speaking the new consumer language.
So whatever the future holds there are three fundamental things that fashion brands need to do to stay successful. Find a way to create unique experiences. Connect on a real and profound level with customers through their peer group. And finally…. don’t waste time. Nobody has any of that to spare.