As the metaverse gains more traction among fashion brands, the concept is gradually becoming more democratized. Fashion and luxury houses are venturing into the new virtual possibilities with novel marketing campaigns where it is seemingly easy to buy digital clothes and products, attend fashion shows, interact with other users and even become the owner of a piece of the digital terrain.
Along similar lines, the online product designer helps fashion and luxury companies to offer top-notch customer service to their buyers and make shopping more fun. The customized solution helps brands and retailers to let their customers select, customize, and preview the products using 3d technology.
Online Product Design Offers Solutions To Capitalize in the Online Marketplace
When the social media platform, Facebook, was rebranded as Meta in October last year, it brought into the mainstream a concept that excited many bright minds in Silicon Valley. Mark Zuckerberg’s introduction of a vision for a new digital era integrated immersive technologies was applauded by many and criticized by some. It is to understand the scepticism behind it as the new solution, or a platform sounded something like it is straight out of a science fiction novel. However, the truth is, in one way or the other, we saw the technology coming. The launch of the internet, the emergence of social networking, the innovation of smartphones, and the metaverse was the next logical innovation. It is the next generation of the internet with better and more advanced immersive technologies and 3d experiences. Its defining quality will be a feeling of presence like we are right there with another person or in another place.
Many tech giants, including Microsoft and Google, to smaller ones, like Niantic and Emblematic, are building experiences and products for the metaverse. Several of the early versions already exist in the virtual worlds of games like Roblox, Minecraft, and Fortnite. It incorporates technologies like virtual reality (VR) and augmented reality (AR) that, while still young, have been in use for some time. However, a study titled “New realities into the Metaverse and Beyond” by Wunderman Thompson Intelligence suggests that even if people have heard of the metaverse, most wouldn’t feel safe trying to explain exactly what it is. According to the research, only 15 per cent of those surveyed said they could explain the concept of the metaverse to another person, indicating that familiarity with the concept does not necessarily equate to understanding. It is crucial for buyers to realize that the metaverse goes beyond VR; they do not always have to don headsets to take them out of the environment in the physical world and transport them to a new reality. VR is just one of the ends of a spectrum as it stretches overusing skins, accessing metaverse, to AR glasses that project computer-generated images onto the world around us and extended realities and mixed realities that blend both physical and virtual environments. The word ‘metaverse’ could appear a little misleading because many might think “verse” is about transportation to another universe. The notion is not far away from the truth, but it doesn’t depict the actual picture. There is escapism inherent in these technologies, such as immersive gaming experience, but it is far more than that. It’s ultimately about finding ever more ways for the benefits of the online world to be felt in our daily lives — enriching our experiences, not replacing them.
Let us explore some new trends in the fashion and luxury industries tapped by brands and how they help them attain their business goals:
- Bridging the Physical and Digital Worlds
During the prolonged lockdowns, eCommerce witnessed a boom in its sales, revenue, and market expansion; however, as the gloomy days eventually began to side away, shoppers were thrilled to attend all fashion shows, visit stores, and many other things. Nonetheless, they were always extremely comfortable with the technologies they had been using at home. Therefore, when the stores reopened, people were eager to shop, but they came with a backlog of using technology and engaging customer experiences. Fashion houses are looking for opportunities that help them to reconnect with their audiences and bridge the gap between the physical and digital worlds. For instance, color authority companyPantone is joining hands with Spatial Labs (sLABS) to launch a wearable hardware product that looks to standardize colors in the metaverse. Aas coined by sLABS as ‘the wearable internet’ and entitled LNQ; the device hopes to enhance user experience in Web3. Founded by Iddris Sandu, the technology has also been backed by investment firm Marcy Venture Partners, co-founded by Shawn Carter (Jay-Z), Jay Brown, and Larry Marcus.
Likewise, the product design maker, a customization tool, enables fashion and luxury brands to blend offline and online stores. The tool can be installed on a website or a brick-and-mortar store seamlessly and allow your buyers to customize their apparel, handbag, backpack, footwear, jewelry, or any other fashion product using 3d technology. It helps brands collaborate with their shoppers in real-time and offer suggestions to create a spectacular product that turns everyone’s head around. It enables brands and retailers to establish a trusting and warming relationship with buyers and allows them to create their fashion statement with the best of both worlds.
Zara, a leading name in fast fashion, uses the same methodology of blending two marketplaces to offer convenience to its shoppers. Without fanfare or a major announcement, last week began charging fees for online shoppers returning its clothes. The 1.95-pound cost will be waived if customers return items in its physical stores but not if returned via a convenient third-party drop-off point. The cost of returns has soared in recent years as online shoppers order multiple items, often the same garment in various sizes, returning most of their original purchases. Returns management has been a sore point for many retailers, with rates so high they often eat into a brand’s profits.
- Tapping on New Possibilities
As the digital solution emerges as the only way to sustain the business during unprecedented and challenging times, it is imperative for fashion and luxury companies to explore new avenues. Many brands, retailers, designers, and event organizers are developing the building blocks for the virtual world and protecting their innovations. On the same note, the Fashion for Good Museum opened a new exhibition, “Fashion Week: A New Era“, last week. The museum unpacks the Fashion Week, delving into its past, present, and future. It shows historic looks from the runways of Balenciaga, Versace, Moschino, and many more. It also discovers the innovative work of Dutch fashion designer Ronald van der Kemp and the digital fashion house The Fabricant. In short, it celebrates fashion through the years and explores how this phenomenon influenced the fashion industry and what the future of Fashion Weeks will look like. It shows why the fashion and luxury industry needs to focus on sustainability and why it is indispensable in designing and producing apparel and other luxury products.
Many fashion weeks, including the Lakme Fashion Week (India), have raised awareness of sustainability and organized a Sustainable Fashion Day during fashion week for more than five years. The Fashion Week features several eco-friendly looks from a collaboration between the Fashion for Good Museum and The Fashion Design Council of India (FDCI) with Lakmé Fashion Week. The looks are developed by fashion designers and start-ups working towards realizing their dreams of balancing nature and fashion. They are working on ground-breaking innovations that help fashion companies to convert the agricultural waste into a new material or how carbon dioxide is converted into a type of dye.
One way to become sustainable is by using technology to promote a circular economy and working on the resale concept. For example,French Connection has launched its rental website as the market for circular fashion continues to boom. The British high street retailer has teamed up with rental-as-a-service provider Zoa Rental for the launch. The new website is called “French Connection Rental”, which, as the name suggests, allows customers to rent over 100 SS22 styles, initially focusing on dresses, holiday wear, and workwear. According to Zoa Rental, French Connection is the first major brand to launch an on-demand rental service for the latest season stock in the UK. The move is aligned with the rising demand for rental services among buyers. It has been estimated that the global fashion resale market will grow at 127 per cent by 2026, which is almost three times faster than the broader retail clothing sector. That growth will be fueled by the US, where the second-hand market is expected to double to 82 billion dollars by 2026 – 16 times faster than the broader retail fashion market. The US resale market recorded record growth in 2021, up 32 per cent.
In a nutshell, consumer perception towards fashion and luxury houses has completely altered, and the latest advancements in the sector second the notion. Therefore, it is appropriate for fashion brands and retailers to invest in new solutions. The best product design online by iDesigniBuy offers an online customization platform to fashion and luxury companies and helps them cater to all dynamic needs of customers. The customization tool empowers brands to thrive in the online marketplace with its novel 3d technology.