Technology has always been a part of fashion, as it has been around for a long time. From the invention of sewing machines to e-commerce, the industry has always been cutting edge. According to a report by CB Insights, the fashion industry is expected to be worth over $3 billion by the end of the decade. The rapid growth of technology in the industry has made it one of the most critical sectors in the world.
Artificial intelligence (AI) is used in various ways to improve the efficiency and effectiveness of the fashion industry. Some of these include the development of cutting and sewing machines that can automate making clothes. As the industry continues to expand, fashion companies are also taking advantage of the opportunities technology provides by partnering with tech providers and launching their businesses.
As the fashion industry faces increasing social and environmental concerns, it is also looking to reinvent itself. This process involves examining the various functions within the value chain. This article explores the various trends that are driving the future of fashion. It aims to comprehensively analyze the multiple processes involved in producing and distributing clothes and accessories.
Product Design Technology
As the industry continues to expand, fashion companies are also taking advantage of the opportunities technology provides by partnering with tech providers and launching their businesses. They can anticipate and respond to market demand with the help of advanced technology.
Artificial intelligence is being used to transform how the fashion industry approaches product design and development. It will allow brands to focus on predicting what their customers will want to wear next. However, while algorithms are being used to improve the efficiency of the fashion industry, human involvement is still needed to translate their insights into wearable clothes.
In addition to fashion, manufacturers use AI to create out-of-the-box prototypes for various products, such as golf equipment and aircraft parts. According to a report by CB Analytics, the scope of the lucrative generative design software market is expected to grow from $14.5 billion to $44.5 billion by 2030.
Unfortunately, the results of human-free AI design are not always runway-ready. For instance, some of Google’s Project Muze designs were unwearable. Amazon’s Lab126 initiative also received an unfavorable report regarding the design results.
Since the Second World War, fashion has been broken into seasons. The spring and summer collections are usually presented on runways in the early fall, while the autumn and winter lines are showcased in February.
The staggered timeline allows brands to gauge the interest of their customers and retailers, giving them enough time to prepare for the upcoming season. Between the collections’ presentation and arrival in stores, brands analyze demand to ensure they can produce the correct number of garments.
The rapid emergence and evolution of fast fashion have upended the traditional model of how fashion is conducted. Instead of waiting for the next season to launch, many retailers now use their supply chain systems to quickly bring new ideas to market.
Fast fashion brands can create their own unique and fast-moving collections, which are often showcased on runways in September and February. Other fast fashion retailers then replicate these collections. With the ability to get the latest styles on the shelves in real time, fast fashion brands can now expand their offerings to cater to the needs of their customers. They can also test the waters by launching smaller collections.