Fashion is said to take a big hit due to COVID-19. From the luxury market to small online boutiques to brick and mortar stores closing, the industry is preparing for a decline. Behind the scenes, though, the industry is far from a standstill. For one thing, shuttered stores are compelling retailers to ramp up their digital operations to capture the new demand. And while everyone is trying to find new initiatives and ways to help this pandemic pass, a few designers and brands are leading the pack.
Why Digital Technology is a Step Towards Better Future?
The fashion companies have to move in the direction of digitization because of various factors:
- Supply Chain Disruption
As Coronavirus is spreading at a higher rate, the firms are now facing a drop in recruiting for roles in categories, such as supply chain efficiencies, logistics, warehousing, sourcing, performance marketing, and e-commerce buying. According to Julia Pollak, ZipRecruiter’s labor economist, “The COVID-19 crisis is affecting fashion and retail jobs differently, based on the degree to which they require face-to-face interaction. Jobs for fashion models and retail store associates have fallen steeply over the past four weeks, while jobs for fashion designers have risen, and those for e-commerce managers have skyrocketed.“
Most of the raw material comes from China, and since it was the first place where the virus outbroke. It became essential for the fashion brands to look for alternatives that can help them smoothly said through depressed times.
- Recessionary Climate
According to a survey by Morgan Stanley and Goldman Sachs, initial jobless claims are expected to spike to a record high of between 2 and 3.4 million this week. During the recession time, many companies will be analyzing their spending and deciding what’s essential. Even the retailers relying heavily on brick-and-mortar stores will be more precarious. In such situations, they needed to adopt strategies that can help them cope with the present one. Additionally, these strategies will enable their business models to remain standstill during the adversities in the future.
- Sustainability
Nature has enough for human’s need and not for greed correctly fits in the current scenario. It is a widely accepted view that due to continuous human intervention in the environment led to the origin of Coronavirus. We can’t undo our past but can surely learn from it. Digital technology offers fashion companies to save costs and periods for huge and swift sustainability gains. These include removing textile waste and reducing the need for dyeing, water use, and the carbon emissions generated by physical sampling. The most significant benefit is the ability to manufacture small quantities of products profitably.
- Use of RFID in Retail
RFID technology is becoming increasingly widespread – especially in fashion retail. Many global implementations show that the technology has its most significant impact on the – so-called – vertically integrated models: brands that control their entire product life-cycle, including production, logistics and the sale across different channels. Not only do RFID labels get less expensive, but they also show improved performance in challenging environments such as metals and liquids.
- Practical and hands-on Classes
COVID-19 has created a first of its kind problem for fashion schools. Top colleges around the globe have suspended classes and are transitioning to remote teaching. But distance learning isn’t easy for students who learn by making and need access to studios and workshops. The academics see this crisis as an opportunity to innovate old-fashioned teaching methods and realign with the needs of an industry that is rapidly moving towards digitization. Quarantines are forcing even the most traditional fashion universities and colleges to engage with digital technology. This could trigger fresh thinking towards new models of digital learning that last beyond the pandemic itself.
Conclusion
It is undebatable that in the current context, the fashion industry is facing economic depression, and digital transformation is a necessity rather than just an option. iDesigniBuy works on a similar thought process and guides fashion manufacturers and retailers. Its solutions help them to make them the pioneer of digital technology.
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