Fashion: Technology and Innovation - UK - September 2016
“In an increasingly challenging clothing market, retailers are having to do all they can to stand out from the competition and we are seeing more companies actively searching for the latest technology innovations. While many of the latest innovations such as magic mirrors, in-aisle payments and online sizing tools can improve the in-store and online shopping experience, it is important for retailers to focus on technologies that resonate with their target customer. For example, older women are particularly interested in interactive mirrors in changing rooms meaning that a retailer such as M&S could benefit from investing in this technology.”
– Tamara Sender, Senior Fashion Analyst
This report answers the following questions:
- What patterns are emerging in the way people shop for fashion?
- What in-store and online shopping innovations are consumers most interested in?
- What fashion product innovations do consumers believe will be successful?
- How do consumers feel about the increasing use of the latest technology in the world of fashion?
Consumers are increasingly using their mobile devices to shop for clothes, shoes and fashion accessories online. Young Millennials aged 17-24, in particular, like to use their smartphones to shop for fashion online. These digital natives have grown up surrounded by technology and rely heavily on the internet and social media to manage their daily life activities, meaning that not responding to their needs will have direct consequences for fashion retailers’ bottom lines as they are the keenest in-store and online shoppers.
Despite the growing popularity of shopping online, stores still remain a big part of the clothes and shoe shopping experience, with almost seven in 10 consumers browsing stores on the high street. However, people are more knowledgeable and prepared when they go shopping.
Interactive mirrors stand out as the in-store innovation that consumers see the most potential in, while sizing technology that helps with buying clothes or shoes that fit online is the innovation that could hold the most potential for online fashion retailing. Millennials stand out as being the most fascinated by wearable technology in clothing and footwear.
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