NRL Telstra Premiership<\/a><\/p>\nDue to the toll Covid-19 is taking on the fashion industry, fashion
\nbrands and retailers are placing new value on accessibility, circularity
\nand efficiency. Sustainability is at the focal point of many retailers as
\nthe resale market is projected to increase from 7 billion dollars in 2019
\nto 36 billion dollars by 2024, according to PSFK Research.<\/p>\n
E-commerce has become significantly more vital to the survival of brands
\nas those without an online presence are experiencing a decline in
\naccessibility. A perfect example of this is Zara owner, Inditex, who is
\nreportedly investing 1 billion dollars between now and 2022 in its
\necommerce operations, as a result of its surge in online sales during
\nlockdown.<\/p>\n
PSFK Research investigated new forms of customer acquisition to help
\nretailers and brands predict what their demand will be, in ways such as
\ndigital transformation, virtual and user-generated marketing, business
\nmodels and connected logistics: six trends stuck out to them. <\/p>\n
Six trends which outline business practices and models<\/h2>\n
Alternative distribution models are methods in which existing services
\noffer customers new packages. For example, invite-only emarketplace, Italic
\nBlack, works by bringing manufacturers and consumers together to offer its
\nmembers access to unbranded luxury goods at wholesale prices.<\/p>\n
Retailers are using co-created content between the brand and their
\nambassador to make use of both existing fan bases and communities to launch
\ncampaigns and collections. Size-inclusive fashion brand, Eloquii,
\ncollaborated with influencers to model the retailer’s clothing from their
\nhome which gave them creative independence and original content for the
\nbrand. <\/p>\n
Technology providers are partnering with retailers to create internal
\nsolutions in order to achieve a greater knowledge of their inventory, this
\nis called connecting inventory. Fashion outlet, Otrium, sells end-of-season
\nclothing from other brands that would otherwise have to dispose of them.<\/p>\n
Fit-tech creates an enhanced shopping experience by reducing the rate of
\nsize-related returns. Reality tech company, Vertebrae, develops virtual
\ntools intended for users to try on products such as hats, jewellery and
\nsunglasses.<\/p>\n
Rotating closets is a movement that is becoming increasingly popular as
\nconsumers still want the excitement of new clothing, but without the
\ncommitment of wanting it forever. An Irish rental platform, Nuw, is a
\nclothes-sharing app that is taking full advantage of this trend for a
\nsavings-focused consumer.<\/p>\n
Virtual runways are becoming the new normal, even before the pandemic,
\nas the traditional fashion show was in a state of confusion about where to
\ngo next. Wholesale platform, Joor, came up with Passport which is a virtual
\ntradeshow portal where buyers and retailers can browse and place orders.<\/p>\n
Photo credit: PSFK, Facebook<\/p><\/p>\n","protected":false},"excerpt":{"rendered":"
Consumer data tracker, PSFK Research, has analysed sustainable models and solutions to assist retailers as brands face unprecedented challenges in 2020. Click Here: NRL Telstra Premiership Due to the toll Covid-19 is taking on the fashion industry, fashion brands and retailers are placing new value on accessibility, circularity and efficiency. Sustainability is at the focal … <\/p>\n
Read more “The fashion industry seeks sustainable models and solutions”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-9575","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/onhee.com\/index.php?rest_route=\/wp\/v2\/posts\/9575","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/onhee.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/onhee.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/onhee.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/onhee.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=9575"}],"version-history":[{"count":0,"href":"https:\/\/onhee.com\/index.php?rest_route=\/wp\/v2\/posts\/9575\/revisions"}],"wp:attachment":[{"href":"https:\/\/onhee.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=9575"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/onhee.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=9575"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/onhee.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=9575"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}