The future of fashion by Fashmates: Revamping fashion industry with CX trends & technology
New Delhi [India], June 28 (ANI/Mediawire): The world of fashion is continuously revolutionizing with social media and technology playing a significant impact on how it is perceived across the globe. Post-pandemic there has been a fast-paced inclusion of technological advancements in the world of fashion. Without disrupting the creative design and ideas, the comfort of the fabric has taken a center stage in the behaviourism of the consumers.
Taking into consideration the global demands, ETRetail has initiated a series of Panel Discussions titled the "Fashion Forward" series in partnership with Fashmates, a renowned global platform in styling. The first-panel discussion happened on May 27, 2022, with the topic being "The Future of Fashion By Fashmates: Revamping Fashion Industry With CX Trends & Technology."
The team of panellists included several dignitaries from the fashion industry. Among them were:
- Harish Ramchandani, Founder and CEO, Fashmates. His brand is a global leader in the styling and outfitting of content platforms aiming to deliver hyper-personalized fashion to its customers.
- Akhil Duggar Jain, Executive Director, Jain Amar. Jain Amar is an integrated network of distribution, e-commerce, and large format stores in modern clothing and accessories.
- Vinay Chatlani, MD and CEO, Soch. Soch is a well-known chain of retail fashion outlets delivering a perfect combination of Indian traditional style with a touch of modern design.
- Eshaa Amiin, Founder of the EshaaAmiin Label and The Style Elevator. The label is a well-recognized name in the Hindi film industry with a design experience for celebrities such as Amitabh Bacchan, Saif Ali Khan, Jahnvikapoor, and several others.
- DevangiNishar, Director of Aza Fashions. The Indian luxury fashion label caters to the personalized fashion needs of both men and women.
Amit Kumaar Manna, Partner Consumer Products, Retail and eCommerce, KPMG was the moderator for the discussion that took place.
The fashion industry stalwarts provided pertinent details during the hour-long virtual discussion on several important areas. All of these note-worthy personalities who have created a stir in the world of fashion helped the audience get an even better understanding of the fashion business. Here's a quick crux of all the relevant points of the discussion:
- The future of E-commerce looks quite promising as it is making Indian brands easily accessible to the customer base all around. The discussion focussed on how E-commerce with expenses quite less than the traditional business model is reshaping the fashion industry. With a greater outreach in comparison to store business, the concept of e-commerce has reduced the cost of marketing and store management as well.
- The panellists talked about how the pandemic has drastically shifted the customer demands in terms of fashion. The demand for off-the-rack fashion is surging each day with customers wanting clothes tailored as per their comfort and preference. This shift in customer behaviour is restricting the scaling of a fixed mechanism that can help in the production of quantity as well as deliver personalized clothing items to the consumers.
- The virtual session talked about how technology is enabling customer-centricity. Adopting innovative techniques such as AR and VR trial mirrors can fast-track the process of delivering value and enhanced experience to the end-users. It can also help your business stay relevant amidst the new developments in the industry.
- Sharing their views on hyper-personalization, the members talked about how it is all about the realignment of fashion from the pre-existing stereotypes and shifting it to exactly what the consumer needs. Machine learning and data science play a crucial role in this context helping understand a particular consumer's choice based on their past buying choices. This increasing demand for personalization in the fashion industry is leading to flourished demand for designers.
- The role of social media was also a crucial point of the discussion. The panellists discussed how storytelling and connecting with customers on social media have become extremely important for the success of any brand. Different social media platforms help businesses understand the needs and choices of their customer base without having to step into the market. Consumer mindset can be easily gauged and taken care of with the help of these social media platforms.
- Influencer marketing has been emerging as the perfect tactic to reach the masses and prompt them to buy the different products out there. With millennials spending, a majority of their time on social media, new-age influencers have come into the limelight with their unique styling options. Be it a top-notch brand or a start-up, all of the brands are fetching influencers to make their products appealing to their customer base and boost their sales.
Be it a conversation on where the technology is taking the fashion world next or the AR/VR dressing rooms, the virtual discussion proved to be extremely beneficial for the retail outlets and marketers out there planning to thrive in the industry. The fashion stores out there need to revamp their business and accelerate their digital positioning to stand out among their competitors. The discussion led to an understanding of how the future of fashion rests with the brands and labels that believe in flexibility and innovative technology.
To watch the entire panel discussion please click here
Click here to know more about Fashmates
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Source: BUSINESS