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Growing expanse of the digital wave in global fashion

"Technology is transforming each and every industry very fast and it stands true for fashion industry as well. There used to be a time when luxury used to be in the reach of a select few and the fashion trends used to change in 6 months. In digital era, the information spreads like fire and before we see celebrities adorning the global brands, our consumers are ready to adorn the same with their copies. In such a highly transparent and competitive scenario, how can brands compete and advance is a question that needs to be answered by global giants."

 

 

Growing expanse of the digital wave in global fashion

 

Technology is transforming each and every industry very fast and it stands true for fashion industry as well. There used to be a time when luxury used to be in the reach of a select few and the fashion trends used to change in 6 months. In digital era, the information spreads like fire and before we see celebrities adorning the global brands, our consumers are ready to adorn the same with their copies. In such a highly transparent and competitive scenario, how can brands compete and advance is a question that needs to be answered by global giants.

Growing expanse of the digital wave in global

 

Since ages, The LV from Louis Vuitton used to be the status symbol worldwide. In order to offer customers something new and bring back brand identity, for Spring/Summer 2016, Louis Vuitton has brought in a new face for the line – Lightning, a heroic character from Final Fantasy, which seems to be quite out-of-the-box. On the surface having a fictional heroine from a virtual world take the place of a human muse seems like a peculiar stretch for a historic fashion house; however, long before the brand was boiled down to a monogram, it stood for pushing the boundaries of reality and dreams. Nicolas Ghesquière, the creative director of Louis Vuitton, highlighted that Lightning is the perfect avatar for a global, heroic woman and for a world where social networks and communications are now seamlessly woven into our life. Lightning heralds a new era of expression. This example reflects that even the most renowned luxury brands are investing in attributes that encourage relevance versus aspiration.

Accessibility is the key

When the information is available at the click of the mouse, how can companies create a unique proposition needs to be pondered over. In rescue to this, J Crew has met the consumers’ need for instant connection by making high quality suits accessible. In its Ludlow shop, customers can design and purchase custom suits, complete with tailoring and monogramming. The growing world of bloggers and vloggers, a seat to a Mercedes-Benz Fashion Week show now only requires a social media account, and cell service or WiFi. The intent has now shifted to making the experience as accessible and interactive as possible to drive same-day, virtual sales.

Luxury designers Rebecca Minkoff and her brother/co-founder, Uri Minkoff are unlocking the velvet ropes even further via augmented reality. With a purchased virtual reality headset, consumers around the globe were given a 360-degree live experience at Rebecca Minkoff's 2016 Fall runway show. The founders also partnered with a startup, Zeekit to offer their consumers a virtual fitting room to try on the latest runway styles.

Omnichannel is here to stay

Instead of getting bogged by the emergence and growing acceptance of online as the preferred mode of shopping, companies need to evolve a cross-channel integration strategy to connect and engage consumers with a brand. There is a growing emergence of experiential retail spaces, which means that brands need to focus less on selling and deliver a highly-interactive, memorable experience to build brand loyalty.

In light of this, Bonobos, the men's e-commerce apparel company, has opened up brick-and-mortar guide stores where one can't buy anything, but can just check outfits while hanging out and drinking beer. Consumers are then assisted by a Bonobos guide with ordering all their selected items online, which are then home delivered. Today, the renewed purpose for a physical retail space is to craft a multi-sensory, service-first brand experience a customer can take home. In short, companies need to create a new standard in brand building in response to the demands of the modern consumer.

 
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