In a tumultuous year filled with economic uncertainty and skyrocketing unemployment rates, the fashion industry was surprisingly resilient and flexible in the wake of COVID-19. Brands and retailers that were nimble and agile saw success this year mainly due to the embrace of new technologies and Ecommerce capabilities. I had the pleasure of speaking with Toronto’s FashionTech founder Ashley Barby, who provided insight into the advancements and emerging trends in fashion technology in 2020.
Ecommerce Advancements
Perhaps one of the most obvious advancements in fashion technology has been the growth of fashion Ecommerce. According to Statista, the global Ecommerce market was projected to grow 25% by the end of 2020, exceeding original projections of just 15%. Beyond just meeting minimum terms threshold for capabilities, brands and retailers with Ecommerce platforms adapted and are now continuously introducing new capabilities to enhance customer experience and loyalty. Barby names features such as real-time inventory management, and the introduction of new options such as curbside pickup as being some of the most prominent changes in Ecommerce capabilities over the last year.
Sustainability Push
In addition to the progression of Ecommerce capabilities, the concepts of circularity and sustainability have appeared on the agendas of big fashion brands worldwide. Barby points out that consignment and resale platforms such as Thredup have thrived during this time, illuminating consumer demand for a more sustainable future. Larger fashion companies are also making a larger investment towards the development of alternative textiles, such as the introduction of Adidas’ Mushroom Leather shoes and Patagonia’s Plant-Based wetsuits. These advancements in sustainable fashion technology show that larger brands are putting consumer demands for more sustainable options at the forefront of their priorities. Barby mentions that we still have yet to see these advancements and practices widely put into place, but can expect to see more in the near future.
Business Adjustments
Perhaps the most subtle and discreet advancements came in the form of business practices and operations. Alongside the unfortunate closure of many brick-and-mortar retail locations, some brands choose to redesign their stores to be smaller, serving more as logistical hubs or inventory warehouses, says Barby. Stores are also shifting the way they communicate with theircustomers, as well as incorporating new technologies to find out what they really want using tools like artificial intelligence and augmented or virtual reality in the form of chatbots, suggestion tools, and virtual try-on features.
What’s next?
Consumers, are only seeing the beginning of a major technological change that has emerged in fashion over the past year. While all of this rapid growth and adjustment can be intimidating to those new to the game, Barby recommends starting small with implementing new technologies into your business. Become comfortable with the foundations before introducing new technologies, she suggests, then integrate them with your “existing business experience and business models to unlock new opportunities and new problems to solve”.
Lucie Mink is a digital marketing, branding strategist, and freelance writer. She currently works with a number of fashion brands and has more than six years of professional experience in the industry. She is deeply passionate about sustainable fashion and creating environmental change within the industry. You can find her dancing, cooking, and singing (usually at the same time) or follow her here, on Instagram.