For instance, real-time inventory tracking has become key for brands as they save time and make for efficient warehouse management and operations.įurthermore, if we combine inventory tracking with AI's powerful data prediction tools for trend forecasting, brands could have a significant competitive advantage. The technology behind AI includes algorithms that track customers journeys to match them with the right products.Īlthough these customer service technology tools are promising, trend forecasting and supply chain management are some of the most profitable avenues for AI. It’s almost impossible to head to a fashion brand’s website and not find some form of AI chat technology that’s being used to help enhance the customer experience. In recent years, brands have been using AI to enhance customers' shopping experience, analyze data, boost sales, forecast trends and offer inventory-related guidance.Ĭhatbots and touchscreens being used in stores to improve customer experience and customized product suggestions. From the latest in artificial intelligence to the boom of mobile commerce, 3D printing and blockchain, we've rounded some of the top tech advancements being used in fashion today. Those brands that pick up the pace and become more responsive to market needs will be the likely winners in this fast-changing modern environment.Īs customers' real lives' become increasingly intertwined with the digital world, many designers and brands must embrace the latest technologies to push the limits of manufacturing, production, marketing and wearability.
Moreover, 'mass-made' clothing or ‘fast-fashion’, seems to be gradually losing its appeal.Īs this trend continues to rise, it makes less and less sense for companies and brands to keep producing large quantities of apparel, months in advance, with no certainty of how well it will sell. At the same time, younger generations, who want to stand out from the crowd, seek products that can be tailored to their needs and preferences. Social media is changing how fashion is consumed and has trained customers to want instant access to the latest trends, as soon as they hit the catwalks. Indeed, we live in the 'insta-age' of technology. However, the rising concerns about fair wages, pollution, as well as the need to satisfy the hyper-connected consumers of today, have given way to new exciting technologies. This is, in part, because it's still easy to source low-cost manual labor in many countries and to outsource any pricey production costs. As one of the biggest industries in the world, generating an estimated $1.5 trillion a year, it’s surprising to learn that the way fashion operates today hasn't changed that much in the past twenty years.
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