2023
9
UK Fashion Technology and Innovation Market Report 2023
2023-09-02T04:51:05+01:00
OX1155183
2195
166320
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Report
en_GB
“As the cost-of-living crisis impacts growth opportunities for the fashion sector, more retailers and brands are looking at ways to optimise their businesses by investing in the latest online and…

UK Fashion Technology and Innovation Market Report 2023

£ 2,195 (Excl.Tax)

Description

Stay ahead of the curve and future-proof your business with Mintel’s UK Fashion Technology and Innovation Market Report 2023. Our full report is packed with consumer-led market intelligence, the latest technology trends in fashion and consumer behaviours affecting your business. Get a 360° view of innovation in fashion technology, including market size, share and forecasted growth to help you align your business strategy with the needs of your audience.

Below, we’ve handpicked the key insights analysed in the full report and summarised the core topics.

Topics Analysed in this Report

  • Outlines barriers when buying fashion online.
  • Solutions to help with buying fashion online.
  • Attitudes to shopping for fashion online including use of generative AI.
  • Interest in in-store technology.
  • Interest in the metaverse.

Technology and Fashion Industry Outlook

As the cost of living crisis impacts growth opportunities for the fashion industry, more retailers and brands are looking at ways to optimise their businesses by investing in the latest online and in-store technology. As consumers reign in their spending and become more selective about where they shop, retailers are focusing on technology that can be used to improve the shopping experience from digitalising returns in-store to fit solutions online. 

Technology Trends in Fashion

Gen Z leading the way

Generation Z are the most frequent fashion buyers and also stand out as returning the most fashion items. Given that the main barriers to buying fashion items online are difficulty in judging an item’s fit and size inconsistencies, this is no longer an issue that retailers can continue to ignore. Using the latest digital technologies including AI, AR or virtual reality to try clothes on or have 3D avatars to help solve this will be key to making it easier for people to shop online for fashion and return fewer items.

  • Technology and fashion industry trends: 41% of Gen Z say they return fashion items because they struggle to visualise whether an item will suit them when buying online.

Redesigning stores for the future

While there has been a return to the high street in the last year, particularly among women, in-store shopping for fashion has not matched pre-pandemic levels. To combat this, there are huge opportunities for retailers to invest in the latest technology to remove some of the barriers to shopping in-store such as queues to pay for or collect and return items.

  • Technology and fashion industry trends: 64% of female fashion consumers have purchased items in-store over the last 12 months.

To learn more about the UK Fashion Technology and Innovation Market, including a five-year forecast, consumer behaviour analysis, and market opportunities recommendations, purchase our full UK Fashion Technology and Innovation Market Report.

Leading Brands in the Technology and Fashion Industry

John Lewis, Amazon, Zara, H&M, Puma, Very, Hugo Boss, Zakandos, Google, Microsoft, Facebook, TikTok.

Additional Features Included with Your Purchase

  • Interactive Databook: Each Databook is provided as an interactive website where you can deep dive into our consumer research data on your chosen topic so you can draw your own conclusions.
  • Consumer Confidence Tracker: Our Trackers paint the picture of the economic confidence of up to 40 different demographics, as well as their greatest concerns in the current economic climate.
  • Custom PowerPoints: Incorporate our consumer research data into your own work so you can win over your clients and stakeholders. Select insights from your report to create a custom presentation that is ready to download in minutes.
  • Different Digital Formats:PDF for conveniently sharing with your team, PowerPoint for quickly including in your presentations, as well as Word and Excel.
  • Mintel’s Clients Portal: Our portal provides instant access to actionable analysis, podcasts, and trend pieces relevant to your industry that are published almost daily, as well as our annual Global Consumer Trends. You can also browse our extensive catalogue of market research reports.

Expert Insights from a Fashion Analyst

This report, written by Tamara Sender Ceron, a leading fashion analyst, delivers in-depth commentary and analysis to highlight trends in the technology and fashion industry and add expert context to the numbers.

As the cost-of-living crisis impacts growth opportunities for the fashion sector, more retailers and brands are looking at ways to optimise their businesses by investing in the latest online and in-store technology to improve the shopping experience, from digitalising returns, RFID-powered information tables, to online fit solutions. AI will become an integral part of how shoppers interact with fashion brands online, with chatbots integrated into retailers’ websites and apps giving customers a more personalised experience.”

Tamara Sender Ceron

Tamara Sender Ceron
Associate Director – Fashion Retail

Table of Contents

  1. Overview

    • Key issues covered in this Report
    • Products covered in this Report
  2. Executive Summary

    • The five year outlook for fashion and technology
      • Figure 1: Category outlook, 2023-28
    • The market
    • Retail apps are most popular
      • Figure 2: Types of smartphone app used in the last 3 months, 2022-23
    • Companies and brands
    • Fashion retailers experiment with online sizing tools
    • The consumer
    • Under-45s shop for fashion via smartphones
      • Figure 3: How consumers have bought fashion items in the last 12 months, by gender, 2023
    • Over a quarter buy from marketplaces
      • Figure 4: How consumers have bought fashion items online, 2023
    • Fit and sizing main issues for women
      • Figure 5: Barriers to buying fashion online, 2023
    • Almost half keen on size recommendation tools
      • Figure 6: Solutions to help with buying fashion items online, 2023
    • Young keen on AI for personalised recommendations
      • Figure 7: Agreement with attitudes towards buying fashion online, 2023
    • Digitalising returns
      • Figure 8: Interest in in-store technology, 2023
    • 30% of female 16-34s drawn to virtual fashion filters
      • Figure 9: Interest in the metaverse, 2023
  3. Issues and Insights

    • Using technology to solve the problem of fit when buying online
    • Harnessing AI to improve the online shopping experience
    • Redesigning stores for the future
  4. Market Drivers

    • Social media usage
      • Figure 10: Social media usage, 2023
    • Retail apps are most popular
      • Figure 11: Types of smartphone app used in the last 3 months, 2022-23
    • Smartphone ownership a priority for the young
    • Actual purchases of virtual reality headsets are below planned purchase levels
    • Consumers’ financial wellbeing has fallen from the highs of 2021…
      • Figure 12: Household financial wellbeing index, 2016-23
    • Rising inflation impacts spending
  5. Launch Activity and Innovation

    • Online sizing tools
    • AR virtual try-on launches
      • Figure 13: H&M + Snapchat digital collection, 2022
      • Figure 14: Very Virtual try-on, December 2022
      • Figure 15: Zalando’s size recommendation tool, 2023
    • AI for virtual try-on
    • ChatGPT tools for fashion
      • Figure 16: Zalando’s fashion assistant powered by ChatGPT, 2023
    • Improving the in-store experience with technology
      • Figure 17: Uniqlo Covent Garden store, 2023
      • Figure 18: Hugo Boss store, Oxford Street, August 2022
    • Social media
    • Entering the metaverse
    • Virtual stores
      • Figure 19: Hugo Boss Metaverse Fashion week, 2023
    • Virtual fashion
      • Figure 20: Puma’s Fast-RB footwear released in Black Station 2, 2023
  6. What Consumers Buy

    • Ongoing demand for fashion
      • Figure 21: Trends in fashion items purchased for themselves in the last three months, June 2019- June 2023
    • Summer clothes purchasing rises compared with 2022
      • Figure 22: Trends in outerwear purchased for themselves in the last three months, June 2022 and June 2023
  7. How Consumers Buy Fashion

    • Men more likely than women to buy fashion online than in-store
      • Figure 23: How consumers have bought fashion items in the last 12 months, by gender, 2023
    • Under-45s shop for fashion via smartphones
      • Figure 24: How consumers have bought fashion items in the last 12 months, by generation, 2023
    • Young women use multiple channels
      • Figure 25: Repertoire analysis of how consumers have bought fashion items in the last 12 months, by age and gender, 2023
    • Over a quarter buy from marketplaces
      • Figure 26: How consumers have bought fashion items online, 2023
    • One fifth of Younger Millennials buy direct from social media
      • Figure 27: How consumers have bought fashion items online, by generation, 2023
    • Fashion apps mainly used by young women
  8. Barriers When Buying Fashion Online

    • Fit and sizing main issues for women
      • Figure 28: Barriers to buying fashion online, 2023
    • Gen Zs can’t visualise if items will suit them
      • Figure 29: Barriers to buying fashion online, by generation, 2023
    • Gen X call out returns process
      • Figure 30: Barriers to buying fashion online, by gender and age group, 2023
  9. Solutions to Help with Buying Fashion Online

    • Almost half keen on size recommendation tools
      • Figure 31: Solutions to help with buying fashion items online, 2023
    • Under-45 females want to use phone camera for measurements
    • Gen Zs keen on having VR avatars
      • Figure 32: Solutions to help with buying fashion items online, by gender and age group, 2023
  10. Attitudes to Shopping for Fashion Online

    • Young keen on AI being used for personalised recommendations
      • Figure 33: Agreement with attitudes towards buying fashion online, 2023
    • Men see gamification as making shopping more fun
    • 70% of female under-25s use social media for outfit inspiration
      • Figure 34: Uniqlo tops, 2023
      • Figure 35: Agreement with “social media platforms are the best place to search for outfit inspiration”, 2023
    • 16-34s share data in return for discounts
      • Figure 36: Fashion Technology & Innovation – CHAID – Tree output, May 2023
    • Methodology
      • Figure 37: Fashion Technology & Innovation – CHAID – Table output, May 2023
  11. Interest in In-Store Technology

    • Young women interested in fitting room tech
      • Figure 38: Interest in in-store technology, 2023
    • Digitalising returns
      • Figure 39: Interest in in-store technology, by generations, 2023
    • Personalising in-store experience to draw young men
      • Figure 40: Interest in in-store technology, by gender and age group, 2023
  12. Interest in the Metaverse

    • 30% of female 16-34s drawn to virtual fashion filters
      • Figure 41: Interest in the metaverse, 2023
    • Gen Z and Young Millennials show high interest in VR stores
      • Figure 42: Interest in the metaverse, by generation, 2023
    • Men keen on dressing avatars for gaming
      • Figure 43: Interest in the metaverse, by gender and age group, 2023
  13. Appendix – Data Sources, Abbreviations and Supporting Information

    • Abbreviations
    • Consumer research methodology

About the report

This market report provides in-depth analysis and insight supported by a range of data. At the same time, introductory and top-level content is provided to give you an overview of the issues covered.

Market

Mintel provides a range of market information, frequently through the category level, including market size and forecasting, complete with market drivers that illustrate the forces that shape a category or market.

Consumer

Mintel’s proprietary consumer research provides our analysts with the attitudinal and behavioral data used to provide valuable insight to topical issues.

Brand/Company

Mintel provides overviews of the top brands and manufacturers, and uses consumer research to explore attitudes and reactions to brands, as well as insight into what will resonate with consumers.

Data

Market reports provide appendices of data to support the research and insight produced. Our databooks* are easily manipulated and downloadable to support your research needs and covers factors from consumer attitudes to market forecasts.

*databooks not available with UK B2B Industry reports.

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Please Note: This is a sample report. All of the figures, graphs, and tables have been redacted. Our reports are available to download in PDF and PPT formats.

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