What has the fashion tech world been up to lately? A lot:
First, we’ve got the five technologies that will be transforming retail in 2018. Now that their worst year on record is over, brick and mortar retailers should be looking to innovate their businesses in order to stay in the game. Luckily, new technologies such as artificial intelligence, augmented reality, the blockchain, contactless shopping and facial recognition are available and proven to help improve the customer experience and drive business efficiency.
That’s a major thread moving through the industry — no pun intended — because people want garments turned around faster while reducing waste. AI is a tool that augments your existing toolset and mindset. It’s designed to inform your decisions, not replace them,
says Michael Ferraro, the executive director of the Infor Design and Technology Lab at FIT.
Third, facial recognition could be feeding your store’s loyalty program in a not so distant future. Personalized customer recommendations powered by artificial intelligence are not only for online retail anymore. Retailer Lolli & Pops is about to roll out an initiative that leverages facial recognition on top of connected CRM and machine learning capabilities. This innovation will help deliver personalized recommendations to loyal customers as they walk into the store. Brick and mortars, this is huge!
Fourth, according to a survey of 1,500 U.S. shoppers from digital marketing agency CPC Strategy, more than 52% of apparel shoppers who bought clothing online in the last six months shopped at Amazon. Wondering ‘how so?’ The reasons include: the fast and free shipping, the preference to shop for apparel on mobile and the ability to filter products. Fashion retailers, take note!
And last, but not least, we’ve got the #FashionTech conference taking place during the Berlin Fashion Week. It’s interesting to see how the fashion-tech combo is gaining ground, featuring more frequently in tech events, and connecting experts and entrepreneurs outside the traditional fashion tech hubs, in London, NY, and SanFran. Here are five takeaways from the #FASHIONTECH Berlin 2018.