The Future of Fashion: Connected Retail

With 66 percent of people admitting to having their mobile device on them at all times, it’s clear that consumers and brands alike are in the midst of a digital revolution. Notably, 34 percent of people agree that they immediately reach for their smartphone or tablet when they research a product.

With digital adoption continuing to increase, brands across traditionally physical-based industries such as fashion are reinventing their purchasing models to appeal to consumer demand. By leveraging technology that consumers use frequently (e.g., smartphones, tablets and laptops) fashion retailers are diving into the digital world.

The Appeal of Digital Fashion
Web-based and mobile-based shopping allows consumers to browse, research and purchase all in one place. The connected world provides consumers with a one-stop shop to complete all aspects of the purchasing process. The appeal of digital fashion for many consumers is that they can browse and shop during idle times. Whether they’re on a train or just relaxing, consumers can actively research products — a prime opportunity for brands that shouldn’t be missed.

For luxury fashion brands in particular, more than 45 percent of consumer purchases are influenced by what shoppers browse digitally. Clearly, the online and mobile world has a significant impact on the buying habits of consumers. As a result, luxury fashion companies are increasingly embracing smartphones and tablets to interact with consumers.

Social Fashion
The digital shift has been demonstrated by various global brands recently. At London Fashion Week, Burberry presented shoppers with the opportunity to buy pieces from its runway collection directly from its innovative “Buy” button on Twitter. Similarly, Gap has embarked on various social media strategies, including selling clothing on Facebook and even giving away denim via foursquare. More brands will need to follow the lead of fashion innovators like these that are taking advantage of social channels to better reach today’s digital consumer.

Personal Style Development
While brands frequently transform their identity to remain current, consumers like to do the same. However, brands often forget this. It’s important for retailers to help shoppers develop their unique, personal style via networks of fashion experts. To do so, brands should embrace online resources such as on-brand fashion bloggers and professional stylists. The key is to ensure these online interactions and suggestions are personalized in order to truly develop a shopper’s identity.

Tiffany’s has been a leader in developing personal style by presenting its customers with a variety of mobile and web offerings to appeal to different interests. Specifically, its Engagement Ring Finder allows users to create customized ring designs directly on their mobile device.

Over the next few years, the fashion industry will continue to adopt technological innovation via e-commerce and mobile commerce to attract and retain customers. As consumers increasingly rely on technology in all aspects of their lives, their expectations are shifting and the fashion industry will need to transform alongside.

Rohan Deuskar is the CEO and co-founder of Stylitics, a fashion data and insights company, which alerts brands and retailers to fashion trends before they become mainstream. Stylitics recently launched ClosetSpace, a personal style management destination that gives people personalized guidance on what to wear, buy, and try.