10 Tech Trends That Will Shape the Future of Fashion and Luxury Retail
Due to the digital revolution, the fashion industry is experiencing major changes. The web is busy with making predictions for what lies in the future, especially in technological and marketing space. The consumers are demanding more than ever and the market conditions are also increasing. It is an opportunity to remind some of the important things to know about the digital marketing.
The 10 trends which would change the shape of the future of fashion are as follows:
One to One Relationship
The artificial and machine learning has played an important role in making personalization at scale more of reality. It is promising at this stage, but we’ll see important uptakes in the future.
Bots Have Arrived
The bots have already arrived in the market in the messaging space. Many top fashion brands and beauty brands are already experimenting chat bots. We are looking forward for some more conversational commerce which are tied to both offline and online fashion shopping.
Mortar Retail Would Be Expected
Technology in the market is ever increasing. We are entering into an era where the things put on the store must be recognizable and which allows a more frictionless style of shopping.
Designing for Voice Interface
Using the Internet of Things, there would be an increasing amount of focus which would be put on the user interface with voice interface. This would be the next large platform for interacting with different services.
Digital Realities Would Stream
Due to the emerging technologies, it would be very hard to miss everything that is happening in the realm of VR and AR. People can buy and pay for things just by nodding their heads.
Block chain is still somewhat remaining in the confines of the tech conferences compared to more familiar fashion circles. For identifying the authenticity Blockchain transaction ledger has been considered as the most secure tool.
Shift Towards Visceral Experiences
The idea of tech in store or digital experiences both offline and online, would be coming in the way of visceral or physical side. People can achieve success who would push for the differentiated experiences towards their competitors.
Live Strategy Required
The live video has become a trend in tech and social media. It is not a new phenomenon, but it has come in the form of social media such as Facebook live, Instagram live and many more.
Market Segment Performance
There is an expectation about an increased performance in different segments of the market except for discounts. All the segments should be benefited from the shifts from different other segments, as more customer trade down towards from luxury to affordable luxury.
Sources of Growth
The most challenging trends in tech in the future would deal with the volatility, shifts and uncertainty in the economy globally. Some other sources of growth are supply chain management improvements, speed of fashion cycle and decreasing foot traffic as their future challenges.