Today’s customers are considered to be the culturally confident young generation, with a natural affinity for traditional culture. They are filled with patriotism and want to work in the direction that supports their national tide. They are extremely well-read and do their homework when they decide to purchase any product, and therefore, fashion brands and retailers need to up their game and entice these young audiences. And to help companies attain their business goal is the web to print software, a customization solution that enables brands to let their customers print any text or image on their apparel, footwear, headgear, backpack, and many other products.
Web to Print Software Solutions Offer Digital Strategies to Entice Young Buyers
In recent times, digitization has become the new luxury, and as we know, luxury is all about exclusivity, and digitization is about making data, products, and awareness more accessible. These two poll apart concepts have come together and have taken the fashion industry by storm. Therefore, many leading names in the fashion and accessory market have left no stone unturned to capitalize on digitization. When the new-age solution is implemented in the business model, it helps in amplifying a physical product or experience that lures in more buyers, especially the millennials and Gen Z who grew up during the era of the internet. These add-ons bring a lot of considerable value for the fashion sector, which has for the longest time avoided any technology. But today, Tiffany has an engagement ring finder app that allows users to try on engagement rings using augmented reality in the app before entering the store.
Similarly, Louis Vuitton has collections of accessories that League of Legends players can buy online and then collect in stores.Gucci, too, in the past had offered Pokémon GO players the ability to purchase fashion items from Gucci’s partnership collection with The North Face at one of the Gucci-Poke stops. Game company Epic Games has partnered with brands from Balenciaga to Louis Vuitton and committed $100 million for game creation in 3D space.
The case studies mentioned above indicate that in the coming days, fashion and luxury companies will have more opportunities to turn out the digital world and will successfully provide the basic ingredients of luxury goods and services irrespective of any physical artifact or experience. As the younger generation starts to hold of major companies in the fashion sector, these transformations will be more revolutionary. In the current blog, we shall highlight why digitization is creating a buzz in the fashion market and how young buyers are attracted to it as the days go by.
Below are the pointers that will help fashion companies understand how digitization can be used to entice modern buyers and boost their online sales:
- Offers Personal Expression and Social Weapon
The generation exposed to technology since the day they saw the light of the day, it is impossible for them to identify with a brand that legs behind in using the latest technology. When fashion companies use these modern solutions in their business model, they have a better platform to offer to their clients and allow them to express their personalities and connect with others socially. Since fashion is the ultimate form of self-expression, which sector would help better to present yourself, beliefs and values one withholds. For instance, Vogue Business conducted a study to understand young Chinese consumer behavior. The report revealed that only 35 per cent of Gen Z are willing to be more social, and they think that to an extent, fashion can help them make friends. For Lexi Zhuang, fashion is his means of self-expression. “I am a boy, but I also have a female side in my heart.” Fashion helps them understand themselves and others better.
Additionally, in the era where exclusivity matters the most, fashion is the perfect world for younger shoppers to create their unique fashion quotient. With the advanced use of technologies, buyers also have the chance to recreate an iconic outfit or accessory that will get immediately noticed. These days, technology is advancing at an exponential rate and is coming up with a solution, non-fungible tokens (NFTs). These tokens can be attached to any digital product, such as digital printing, to establish authenticity and exclusivity using blockchain. The sales due to the NFTs have spiked and reached $10.7 billion in Q3 2021. Likewise, we offer fashion companies the best web to print software to thrive in the digital space using our bespoke solutions that enable their buyers to recreate and restyle their t-shirts, sneakers, caps, hoodies, and many other products seamlessly. They can add text to their existing owned product or purchase a product and modify it as per their needs.
- Emphasizes on Exclusivity and Prices
The digital world allows people to present themselves in whichever way they like and can also change their identities if they are unhappy with it. Many fashion giants, such as Balenciaga, have tapped on this opportunity and developed a virtual fashion collection in Fortnite. The players were allowed to display their affiliation to the brand community by buying branded virtual clothes or “skins” for their avatars. Burberry, too, is on the verge of experimenting with its customers and offers skins, such as their limited edition to virtual avatars. The hype around digital skins is extremely high, and according to the trading platformDMarket, the virtual clothing market is estimated to be around $40 billion per year. Establishing a global intra-operability across ecosystems that allows items to be worn and exchanged on different platforms will only enhance consumers’ ability to project their identities and status, increasing the value of the digital products that enable this.
The virtual clothing trend is limited to gaming; online communities, such as theBored Ape Yacht Club or Pudgy Penguins, are becoming increasingly popular among digital collectors. However, virtual products and services in gaming and other communities are extremely expansive, and therefore, apart from these exclusive solutions, modern buyers also consider the pricing aspect of these platforms. Price is a significant ingredient if fashion companies garnish it well with their other products and services. Today’s Gen Z consumers are a price-sensitive and discerning group. They no longer worship brands, and brand loyalty is rare. They also make more rational consumption decisions. Young customers often consider themselves professional consumers who examine their needs, expenses, and income and purchase anything they like. For them, shopping is not an experience, but more of a necessity, and brands must also think before presenting anything before them because buyers have already done their homework. However, there is also a large portion of trend followers, excessive shoppers, and patriotic spenders.
Several customers are willing to pay even more for digitally manufactured products. For instance, when Gucci launched its limited-edition digital version of a Gucci Dionysus handbag, sold for just $4.75 in Roblox, it fetched $4,000 in the secondary market — more than the price for the physical version of the bag. Similarly, the sneakers launched digitally byRTFKT doubled their prices after the virtual product launch. Virtual technology offers various lucrative opportunities to fashion brands and retailers, and unlike the physical world, here traceability of transactions helps brands to forecast future trends and demands and thus enabling them to embark on a new route to ongoing profits. Many leading names in the fashion domain, such as Balenciaga, have already commenced their own business division segment that is dedicated to virtual goods, technology, and many other advancements in the same vertical. The margins for virtual products are also high, as the cost is much lower for digital than for physical products. In addition, there is no cost to the unsold inventory.
The pointers mentioned above indicate that today’s buyers are more aware and tech-savvy, and to entice them for a longer period, fashion and luxury companies must tap on these nerves. Modern shoppers’ rising spending power and need for rejuvenation has become a top priority, and they are more than happy to associate themselves with brands that embrace innovation. The companies described here are expanding what it means for a product to be rare, exclusive, and expensive — and the opportunities for creating consumer and business value. The web-to print design software by iDesigniBuy is here to help brands expedite their innovation process and revamp their business models to accommodate these changes in the online marketplace. Its cutting-edge customization solutions help fashion and luxury brands meet customers’ dynamic needs and help them grow their business in the virtual space.