Fashion is not just about wearing chirpy, fancy-looking clothes to look good, it’s an art, a form of expression for people. The clothes you wear and the way you dress define you and your personality without saying a single word. Fashion today has countless options not only in clothing but other sectors as well.
This industry has shown impeccable growth over the years and now, the fashion industry is expected to reach $39.84 billion by the year 2025 according to a report assembled by Research and Markets, with a significant impact on millions of people’s livelihood, environment, and the economy.
Technology, like fashion, is part of our day-to-day lives. We rely and thrive on the constant advancement of tech to make our daily life simpler. Technology has found its roots in every sector including the fashion industry. With the development and introduction of AI and VR, it was time for this industry to explore these uncharted territories and see what wonders they could do in the fashion industry.
The fashion industry now calls for a change and adapting with the growing technology is a change much needed. Earlier brands used to innovate and expected customers to follow them. Now, the internet and technology have made things easily accessible to people, so customers now expect the brands to meet their demands. In all this, personalized fashion has played a key role in the industry shifting towards being more customer-centric than product-centric.
Personalized fashion is broadly defined as fashion made-to-measure for a customer. Physical interaction with the tailor and visiting the boutique itself is a key part of this. It enhances customer satisfaction and their chance of revisiting your boutique/ store. And while there is one large part of the fashion industry dictating trends and mass-producing garments, there is also a burgeoning consumer set that has welcomed tailored fashion as per choice. In the last decade, the fashion industry has changed and become more customer-centric. The personalized approach has also made organizations adapt to a sustainable model that helps minimize material wastage at the source. According to reports from Mckinsey, in the next 5 years, personalization will be the main trigger to success in the retail industry.
With the changing trends, people’s preferences have evolved with the innovation of technology where now they have the liberty to design the clothes from the comfort of their homes and get them delivered directly to their place of choice. Ready-made fashion imposed certain trends and industry standards on the customers whereas now, the people have the choice to set the trend.
With technology at its peak, a lot of companies have joined the bandwagon of personalized fashion with the introduction of virtual dressing rooms via mobile apps to predict different styles, sizes, fits, and many more advancements. People now choose the kind of clothes they want, design them digitally, and get them tailored and delivered at their doorsteps. Personalized fashion earlier was all about going to your nearest tailors and getting it tailored the way you wanted but now, all of this can be done digitally at the comfort of your home. Tech has made this experience simpler and seamless.
Additionally, the fashion industry has now adopted various innovations in the AI sector; automating daily jobs such as customer service. AI maneuvers the customer’s queries automatically and human errors are diminished. Sustainability derived clothing for a sustainable and healthy future, livestream shopping; where an influencer promotes or advertises products through live videos, are also some of the approaches which are widely accepted with the growth of technology in the fashion industry.
The fashion industry's future is hyper-personalization with customers having complete control over their purchases right from selection to design. There is a steady rise of such experiences in India and this acceptance shows the potential tech-based innovation has on the future of this industry.