3 Ways the Fashion World is Adapting to Change
The fashion world has had to make some changes and adapt to keep up with changes in the industry. Consumer tastes, behaviors, and trends have encouraged the use of new technology and marketing ideas. Here are three ways the fashion world is adapting to these changes and keeping itself relevant.
1 – Non-Fungible Tokens
NFTs are all the rage nowadays, and high fashion does not want to be left behind. The fashion world is thinking up new ways to get new customers and serve their current customers. Cryptocurrency is a hot topic, and with that, non-fungible tokens. NFTs can be anything, like art, music, images, and more. Fashion brands are racing to take advantage of this new trend.
For example, Dolce & Gabbana recently sold a physical and virtual NFT collection for $5.7 million, so there is evidence that fashion NFTs can be viable. While NFTs are still relatively new, there is a push to make these items more tangible. At some point, consumers will be able to buy luxury clothing and receive the NFT version too.
At the moment, fashion NFTs are little more than GIFs. Some tokens are direct copies of the real-life item, like a coat or tube of lipstick. However, this is just the beginning, and more technology companies and fashion brands are coming up with new ways to create fashion tokens. As shown by Dolce & Gabbana, NFTs have the potential to bring in revenue for fashion brands, so there should be further research into this topic.
2 – Influencer Marketing
Influencer marketing is another trend that high-end fashion brands have found advantageous. Influencers, especially those with a large or engaged audience, are perfect for brands wanting to break through to a new customer base. Influencers, depending on the audience, promote items and brands and encourage their followers to buy pieces.
The key to making it work is to make sure the influencer matches up with the brand. If a brand does not pick the right influencer, they risk not getting any revenue and wasting money. For example, if an influencer has an audience interested in high-end pieces and routinely buys luxury items, high-end brands may want to tap into this. On the other hand, if the audience mainly buys low-cost, fast-fashion items, an expensive brand may not be a good fit. Brands that want to tap into a younger audience should consider influencers with a large following on Tik Tok. This platform is mainly Generation Z, so a young audience would be easier to reach.
3 – Augmented Reality
Trying on clothes in augmented reality is almost here, and fashion brands are jumping on this trend. You’ve seen augmented reality for games and other mobile apps, and fashion is another use for this technology.
Consumers can try on clothes without having to have a physical item. With this technology, you can try on the clothing item, and it will fit your body just like you have put the article of clothing on. It is similar to how filters work on social media apps. The apparel will look natural and give you a better idea of how it looks on you.
More technology and social media companies are updating their hardware and software. Augmented reality is even easier to implement because of this. Models have been on social media showing off the virtual clothes that they try on. With all of this updated tech, AR try-on will become even more commonplace.
The world of fashion is fast-moving. If brands want to stay relevant, it’s necessary to adapt. New technologies, cryptocurrency, and influencer marketing are all changing the game. As technology moves forward, keep an eye out for more eye-catching innovations from brands.