3 WAYS TECHNOLOGY REVOLUTIONIZED THE
Fashion Industry
By: Priscilla Yiu
E-COMMERCE 1
In 2011, Americans alone spent $10.7 trillion
shopping
300 private islands +
This equates to the price of:
A latte
2000 aircraft carriers +
We’ve changed the way we shop
From the mall to the comfort of our living rooms
With accessible online research, reviews,
comparisons, and shipping & return policies
…
technology has made shopping online
easier than ever before.
Online and mobile
commerce are on a
sustainable uptrend,
with Amazon reporting a
record breaking sales
figure for the 2013
holiday season
While traditional brick-and-
mortar retail stores struggled
receiving only half of the
holiday foot traffic during the
gifting season than 3 years ago
According to Nielsen, e-commerce will
continue to gain more ground than any
other segment of the retail industry by
2017, with a compound annual growth rate
of 11% each year
Social media
marketing 2
Although initially believing that social
networking would weaken a retailer’s
relationship with its customers,
the fashion industry has come to adopt it as
an effective marketing platform to develop
brand awareness and customer loyalty
As means of customer engagement, fashion
brands are utilizing platforms such as
Facebook and Twitter to report
announcements, advertise events or
promotions, and for customer service
Such brands range from low to high end
luxury retailers including Charlotte Russe,
Topshop, and Louis Vuitton
Fashion week 3
Fashion week takes place in the most
prominent fashion capitals of the world
consisting of Milan, Paris, New York and
London.
Over the years, the show which served the
purpose as a channel for established
designers to debut their collections to
select media and buyers has
drastically changed
With fashion bloggers and street-style
photographers as attendees, magazine
editors and fashion professionals no longer
hold the exclusivity to impacting the
market with new collections and fashion
trends
Consumers in turn, have now
turned to online blogs as a
more unbiased and credible
source to the traditional
fashion magazines
Runway shows are also streamed
live online with exclusive backstage
videos for behind the scenes.
In conclusion: like fashion trends which change
accordingly to seasons, the fashion industry
will consistently change to keep up with
technology advancements.
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