Digital Platforms Are Dominating The Fashion Industry
The digital age is taking over fashion. It is estimated that in India, users will be using technology for their online shopping experiences from 55-60 million to nearly 140 million by 2020. Technology has a huge impact on fashion now. Individuals will name fashion and shopping as their interests on Facebook and Instagram. Shopping online is easier and faster to help someone find what they want and more. There is always a handful of people on their mobile devices or laptops wherever you go. There is a possibility that they are scrolling through retail websites, seeking out the latest trends and clicking “buy”.
There has recently been a report on Facebook labeled “Fashion Forward 2020” that is supposed to help consumers and fashion businesses understand what to do when mobile shopping increases and how that is going to help them earn profits still.
With smartphones out in this generation, surfing the Internet becomes a daily habit. Whether you are bored at work or are trying to kill time at an appointment, the web is easily the most entertaining thing. Smartphones are slowly dominating computers and laptops because you are able to carry your phone around with you wherever you go.
The fashion industry in India is supposed to reach about 30 billion in fashion value online or even more. This means that 60-70 percent will total the apparel market. It is a great indication of how well technology is booming, even magazine companies have chosen to start emerging online.
Online shopping is determined to grow up to $12-$14 million in sales by 2020. E-commerce already accounts for 4-5 percent for the fashion market total and that is the same for department store’s total sales. New shoppers are expected to double in the next couple years, making the digital era one of the biggest fashion components. From existing shoppers, 25 percent of sales will increase by 2020 as well.
Fashion brands have to expand on digital platforms, where most of the luxury and fast-fashion customers find the latest trends and styles. This will help their business, in the long run, considering users account for 40 percent of spent media time. Instagram gives detailed writing on their photos and that gives users the chance to read the captions rather than subscribing to a print platform.
The profile for online shoppers by 2020 is also likely to be more diverse. People everywhere are getting into fashion because they have realized how fun and affordable it can be. Fast-fashion retailing brings cheaper clothing that resembles high-end looks for consumers who need wallet-friendly stores around.
Engaging consumers is easy, several Indian retailers have already gained recognition from having a presence online. Nike is another company who brought a running video out for consumers to watch and start to like the brand more. Interesting and different perspectives for fashion is what society needs. People get easily bored watching mundane clips and will not watch the whole snippet. Lenovo’s smartphone has a cool video that tells a story and it drove sales up. They sold 3,500 units of the phone by 2015 and more is to come.
It also is easier online when you are able to see how many people you have reached each day. What they prefer, how they prefer it, what they want, and what customers are shopping for the most can help boost more sales. Demographics play an important part in the fashion industry as well, helping businesses create collections and decorate accordingly.
Though Facebook is not as popular as it used to be, Facebook ads can increase the awareness of a brand. Impactful videos, photos with captions, and online offers are a great way to create more sales.