Source: Fashion Revolution In The Digital Era
Recent technological advancements transform industries, shaping the tomorrow of every organisation, re-imagining their future, by shifting and transitioning from the realities of today.
In the fashion industry, these digital changes can be summed up in evolutive trends aimed to disrupt all fashion businesses in the next 24 months. From augmented reality to blockchain and the Internet of Things, the fashion landscape is never going to be the same again.
1. Fashion Revolution – Augmented & Virtual Reality
The drive and power behind the whole smartphone ecosystem are shifting toward wearable technology and in fashion, in particular, the augmented, and virtual reality solutions are going to hit the market in abundance starting 2017.
The imminent potential of VR and AR technologies lies in the enterprise sector, adopting new features and capabilities to reshape how work gets done, and also recast the customer experiences.
Without having to wait for dominant VR and AR players to emerge and satisfy the need of emerging technology for the masses, the enterprise sector can fast course adoption and already begin the process of reinventing everything we know in fashion, from warehouses to retail stores and customer interaction.
2. Fashion Revolution – Internet of Things
More forward-thinking organisations are investing in the Internet of Things initiatives such as smart sensors, connected devices, but also developing precise approaches for managing the customer’s data, and extending the company’s processes beyond the traditional limits.
By the adoption of IoT, more enterprises in the fashion industry are showing signs of strategic shifts in focus, beyond mere sensing and passive reporting, to identifying new opportunities in automation, signal analysis, and robotics, and customer interaction in the retail environment.
Through IoT, Fashion organisations can launch new strategies that involve re-platforming, modernising, and revitalise them, Transforming their footprint to be agile, intuitive, and responsive can help meet business needs today, while laying the foundation for tomorrow.
3. Fashion Revolution – Blockchain And Cryptocurrencies
Fashion groups at the forefront of innovation are already exploring how blockchain, the spine powering cryptocurrencies – think bitcoin here – might provide a viable alternative to the current financial infrastructure.
Although these efforts are still nascent, if successful the payoff could be profound. Just like the Internet before it, the blockchain technology will impact communications and most importantly, the way transactions and contracts take place, and by that transforming the foundations of business and societies of tomorrow.
4. Fashion Revolution – Big Data
The customer’s data is the core component of digital transformation in any business and industry. More organisations are investing in talent, platforms, and processes required to turn information into insights.
However, to obtain data’s full potential fashion businesses must adopt new governance procedures such as multi-tiered data usage and management models, and employ innovative delivery methods to enable repeatable results and scale.
5. Fashion Revolution – Conclusion
As more frequently the critical discussions on how business can evolve and capitalise on innovation, it is essential to recognise that the fashion industry’s main challenge is finding new ways to design and architect models for driving transformative changes while maintaining a positive social impact, both for commercial purposes and philanthropic good.
Harnessing the power of emerging technologies will help the fashion industry build new markets, accelerate adoption, and most importantly, attracting and retain top talent that’s already tech inclined.