The fashion industry is currently one of the largest industries in the globe. Projections suggest the fashion apparel industry will reach a whopping valuation of $3.3 trillion by 2030. Hence, the way the fashion industry operates today shows a day and night difference from what the industry was two decades ago.
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As technology has impacted every aspect of human life, the fashion industry began adopting the latest and advanced technologies for better opportunities. For instance, AR try-on technology has managed to change customers’ entire shopping experience. That being said, let’s check out some technological trends revolutionizing the fashion apparel industry in 2022.
1. Artificial Intelligence (AI)
Artificial intelligence has had a direct or indirect impact on the lives of everyone. Thus, fashion brands are now leveraging the competence of artificial intelligence to enhance customer experience and drive results. Businesses can now generate data and get valuable insights to make better decisions and offer highly personalized experiences to customers. In addition, AI has also helped fashion businesses better manage their inventories. The AI chatbots have also played a key role in enhancing customer experience and boosting the revenue of businesses operating in the fashion industry.
2. 3D Technology
The other significant trend in the fashion apparel industry is the adoption of 3D technology. Whether eCommerce stores or physical stores, both are now leveraging 3D solutions to provide customers with a rich shopping experience. Fashion eCommerce stores have managed to cut down customer returns to a great extent by leveraging the 3D try-on solution. Apart from that, 3D technology is also helping fashion businesses simplify manufacturing with 3D printing solutions. This has played a key role in hastening the overall manufacturing process and providing customers with any and every design of their choice.
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3. Mobile Commerce
Mobile technology has never evolved at a pace in life today. From smart wallets to the promotion of products on social media, things are very different now. Thus, fashion businesses from all around the globe are abandoning their conventional practices and opting for much more efficient means to conduct business. This is understandable given how mobile technology has made shopping for and selling clothes easier. In addition, this technological advancement has helped fashion businesses reach a much wider customer base and boost their sales. Even small businesses can now compete with the bigger players as mobile technology has empowered them all.
A blockchain is an amazing tool for anyone looking for better transparency, efficiency, and traceability in the supply chain. It is no news that the global supply chain has been suffering greatly for the last two years, making it even more challenging for fashion businesses. Blockchain has enabled businesses to facilitate robust connectivity among members, carriers, financial institutions, and, most importantly, fashion businesses. This has been a great help for the fashion industry, which has recently suffered some great setbacks due to the covid induced lockdowns and other global regulations.
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These are some of the most notable technological trends currently ruling the fashion industry. Thus, if you own a fashion business, make sure to leverage the potential of these technologies and use tools such as AR try-on to drive better growth.