Where Has Technology Been Significantly Impacting Fashion in 2022?

From automation to customisation solutions, is fashion really seizing the opportunity to bring innovation to the table??

Following the lead of industries like sports and automotive the fashion industry is slowly opening up to the idea of supporting the development of innovative concepts like temperature-regulating fabrics and the metaverse.

Why It is Important To Ask Yourself, Am I Future Fit

At the height of the pandemic, the fashion industry started to understand the importance of scaling up various innovative solutions and that technology can give them access to power that could positively help them change how they do business.

True, not every technology is for everyone, but there is most likely a solution with tech features that could help you run your business more effectively. For example, some innovations offer companies the opportunity to understand their data. By doing so, brands can predict style trends and even outfits better.

Those adapting are not only fuelling progression; partnering with technology partners also plays a pivotal role in helping other brands recognise innovation's impact on the fashion value chain. On the importance of tech adoption Anita Balchandani, a London-based McKinsey partner who leads the firm’s Apparel, Fashion & Luxury practice in the UK, Europe, the Middle East, and Africa, believes: “For players to win here, we do believe that both speed and innovation will be of the essence”.

With the rising?concerns around greenwashing, unfair wages, changing consumer behaviour and outdated business models, collaboration has become the way forward for brands hoping to in get their business future fit. Acting like a switchboard operator between fashion and opportunity is the Fashion Innovation Center, an organisation that supports the development of innovative concepts and the scaling up of ideas.

Fluent in the language of next-gen strategies, the Fashion Innovation Centre has been helping businesses recognise and capitalise on the opportunities presented by new digital frontiers. Identifying opportunities that help companies emerge in a better position, the Fashion Innovation Center amplifies fashion's relationship with innovation by harnessing the power of interdisciplinary dialogue.?

Information is the New Currency of Business

Some experts might argue that fashion is forever in the flirting phase when it comes to committing to new technology, but one cannot deny that as unhealthy as the industry is, change is taking place in. Here are some examples of areas where technology is playing a prominent role in changing how the fashion industry operates:

Product Design:?AI technology is helping designers create designs faster and more cheaply due to its increased speed and efficiency. Some advantages include predictive demand forecasting that enables the flow of products and deeper insights into market demand related to colours, style, textures, preferences, and other aesthetic parameters.

Manufacturing:?As technology continues to streamline the fashion supply chain, innovation is making production more rapid, thanks to robots becoming an integral part of the manufacturing process.

Inventory and Distribution:?When it comes to automation, verification, and online integration of the supply chain, many companies are beginning to rely more on rapid industrialisation and are looking into RFID and Blockchain technology can

Retail & virtual merchandising:?Immersive technologies like AR and VR redefine the in-store and online experience. Gaining popularity, immersive technology is making it easier for retailers to offer more than just a product but also an experience. It is also normalising the idea of virtual fashion shows.

Sustainability in Fashion:?When it comes to sustainable alternatives, solutions like digital IDs are offering brands the opportunity to forecast better should they choose to dive into resale and recycling.

Cryptocurrencies:?A revolutionary game changer, cryptocurrency has set some fashion brands on a quest to explore a new world of commerce. With its ongoing development, those looking to join the 'crypto parade' need to educate themselves before cautiously adopting it as a form of payment.

3D scanning:?With more and more fashion brands and designers implementing 3D technology, it is an innovation that makes ill-fitting clothing a thing of the past. An essential tool to industry creatives now, 3D scanning makes it easier for brands to create custom products and bespoke styles aligned with modern consumers.

What's Next?

There is no need to play hide and seek with opportunity. It is not hiding. The way forward is for fashion businesses to work with partners capable of leading the future by creating it. I am talking about those who have been pivotal in presenting significant new and better growth opportunities. Your end game can only be genuinely solidified if you involve different players in your process. In a world where sharing information has become the new currency of business, it is in your best interest to interact and exchange skills, knowledge, and ideas with collaborators who are unfazed by the pace of innovation and experimentation.