How Digital Media has changed the Fashion Industry
Fashion in 2016 or Modern day Fashion
It is apparent that people have discussed about how technological advances have brought many changes to the world, for example the health and transport industries, but it seems that no one has mentioned how the fashion industry has been drastically affected. The way shopping is done now a days is completely different to how it was 10 years ago. Consumers are reinventing the way that they experience and buy fashion and brands that refuse to adapt to new channels risk being pushed out of the spotlight.
The fashion world has taken the digital runway by storm with brands marketing the latest uses of technology and as well the most recent fashion trends. Large fashion houses like Topshop, Burberry and Alexander McQueen showed their use of live streaming by grasping the idea of digital runways at the SS 2017 fashion month. However, still keeping in mind the end goal of attracting their audience closer to their collection.
Digital shopping or Not?
At a certain time, it was believed that consumers wouldn’t purchase garments without touching and attempting what they would be wearing.
According to statistics, this is not the case anymore. Online fashion sales have increased by 185% between 2007 and 2012, and sales are anticipated to rise by 41% by 2017.
As indicated by the IMRG, online clothing sales have expanded by 14% in 2015 in comparison to the 7% in 2014.
It can be said that fashion and digital co-operate with one another. 54% of worldwide consumers say they would consider ending a relationship with a brand that fails to directly deliver tailor made, relevant content to them.
One of the main factors design brands are exploring into is ‘shoppable content’. Retailers are profiting from their publication content, their online journals, and their online networking channels in order to make the most from engaged readers. Brands are also becoming more sales focused through their online networking channels. Channels like Instagram and Pinterest have been of major help for fashion retailers, who depend heavily on the visual part of their products.
“Times, individuals, and innovation are all changing, thus worldwide, and particularly digital markets, are all changing at such a fast pace to keep up, that cognizant customers utilize the web and online networking to settle on decisions from a much more extensive perspective of the world”
– Julian Mitchell (CEO Digital Annexe)
New digital advertising platforms (for instance Polyvore) that develop fashion brands are benefiting from the worldwide greediness for clothing, guaranteeing they are spoken to on nearby search engines.
Polyvore is a new way to discover and shop for things people love in fashion, beauty and home décor. It is the rejection of a traditional ecommerce model by giving everyone everywhere a voice in shaping today’s trends. What it does is it simplifies online shopping by bringing together all the stores in one convenient place.
In terms of YouTube, while top brands get consistent activity on their channels, individual fashion bloggers are becoming serious competition in every sense – from video views and subscriber numbers. These kind of bloggers do have an extensive reach and because of that their influence over their audience is vast.
Here is a look at the top YouTube fashion bloggers.
“The top fashion influencers on YouTube, individually, have more subscribers than all top fashion brands on the channel put together.”
This may make you question – Does it make more sense for brands that invest heavily on YouTube, to spend more on making Ad campaigns or would it suit them more to invest in highly influential fashion bloggers?
Now the final question is not whether clothing brands should embrace the digital opportunity,but how should they go by doing it?