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Transformation from smart-fabrics to AI-oriented designs, fashion is ever-evolving. The ongoing variations modify how clothes are being manufactured, marketed and consumed. Sharmila Senthilraja, Industry Platform Leader for Consumer Products and Retail at Capgemini India, describes this shift as a "360-degree transformation" in fashion.
This digital transference has resulted in reviving the fashion lifecycle. Earlier, it took about 9-12 months to introduce any new collection in the market but now, with advanced technology, brands can bring-in new collections in just 2-3 weeks to the market. Tools such as 3D modeling and AI-powered trend forecasting enable brands to quickly and accurately introduce products to consumers.
A rapid change could also be seen in terms of retail marketing strategies. Technologies like AR (Augmented Reality) and VR (Virtual Reality) has allowed customers to try and check out clothes online, as well as in-stores, before buying. The post-COVID era has seen a surge in both online and offline shopping, creating a hybrid world where seamless integration of digital and physical retail is essential.
In the era of digital marketization, personalization has become a key tool. With the use and help of AI-driven tools, data analytics and social media analytics, it has become easier for the brands to offer personalized products to the consumers.
Retailers collect vast amounts of user data through web browsing history, emails, and messages. This data helps tailor products to individual needs, interests, demographics, and buying behaviors. Nikil Jain, Product Head at Ajio, emphasizes that accurate personalization can foster customer loyalty.
However, fashion personalization has some unique complexities. Retailers invest heavily in user data to overcome these complexities. Some are even creating digital DNA profiles of users to enhance marketing efforts. With the rapid growth of technology and innovation, concerns about data breaches and privacy have become prominent. Regulations like Europe's General Data Protection Regulation (GDPR) and India's Digital Personal Data Protection Act aim to protect user data and ensure privacy.
As the innovations are increasing at a faster rate, there are some environmental concerns too. Sustainability is another factor for innovation in fashion industry. Kavita Jha, CEO of KiksAR Technologies, advocates for the use of generative AI platforms to address environmental concerns. As technology continues to advance, the fashion industry must balance innovation with sustainability.
The future of fashion is now being shaped by these technological interventions. Brands and retailers must adapt their marketing strategies to stay relevant. Embracing technology and personalization is essential for keeping products on trend and enhancing marketing efforts.
