With the beginning of the new year, the fashion industry wants to recalibrate its retail footprint as it plans to reinstall its buyers believes that it cares for nature and wants to do more to strengthen its bottom line and generate profits. 2022 must mark itself as the flag bearer of environmental, social, and digital revolutions in the fashion sector as many of its superpower brands continue to experiment with new-age technology that balances these three critical aspects. On a similar background, the custom tailoring software helps brands successfully venture into an unknown domain, drastically revamp their business model, and digitally increase customer participation while safeguarding nature. The tool provides customization solutions that allow brands to tackle problems with a simple business strategy and accelerate sales.
Tailoring Design Software Helps Fashion Houses Balance Sustainability and Digital Innovation
Last year, everybody saw the inception of a metaverse in the fashion industry, and it is gaining more attention among buyers as many see it as the best way to control the climate crisis and bring the apparel industry back on track. Several experts believe that this year will be full of legislation, forcing the sector to take responsibility for its actions. And as governments across the globe are tightening their grip over brands' and retailers' practices and operational styles, they will have to be accountable for their unsustainable practices that will come with legal and financial consequences. Therefore, clothing brands and retailers are increasingly moving towards digital solutions that enable them to smoothly function amid the uncertainties and eradicate the unethical practices that bring humiliation to the sector.
In hindsight, the climate crisis is compelling the fashion industry to swerve to an environmentally conscious mindset that has been the essence of luxury and high-quality products. The term "sustainable" has been doing the rounds in the industry, but it was not associated with luxury fashion for a long time. However, sustainability in its true sense implies the quality of being able to exist over a continued period, and it is somewhat similar to any creative piece of art or luxury fashion to embody, that is, eternity. Our Earth and humanity are facing a planetary emergency that involves a multitude of interrelated issues, such as climate crisis, pollution, biodiversity loss, land degradation, human rights violations, inequality, and the pandemic. The recent surge in the new pandemic variant is compelling people to go back to their digital world for shopping as the new period is a testament to changing landscape in the fashion domain. Against this backdrop, a transition to slow fashion and a circular economy become conceivable.
The fashion department drives a significant part of the global economy as it is believed to be a US$2.4 trillion industry, responsible for an estimated 2 to 8 per cent of greenhouse gas emissions, up to 20 per cent of industrial wastewater and 24 per cent of insecticides. Consequently, the industry significantly impacts biodiversity, climate, and nature. Despite the industry being far from achieving environmental sustainability and carbon neutrality, it focuses on other critical aspects and emerging as a key contributor to attain the 2030 Agenda with linkage to all Sustainable Development Goals. The sector needs to introspect and think of strategies that bring people and nature to the forefront, striving for ecosystem regeneration, waste minimization, circularity, responsible production and consumption, and innovation.
In the current blog, we shall explain how technology can play a pivotal part in being a part of the solution and bring a positive change in the industry:
1. Metaverse Becomes a Household Name
NFTs and the metaverse had already reached their peak last summer as Facebook scaled up its game in October when it rebranded to become metaverse company, Meta. Several fashion and beauty brands had already entered the space, and customers, too, were eager to spend money to personalize the virtual avatars. Several clothing companies have tested the digital spaces by collaborating with gaming, social, and metaverse platforms. One of the early adopters of the trend was Gucci which had joined forces with numerous gaming platforms and made a temporary space on Roblox where its bags were resold digitally among the community more than the brick-and-mortar stores. Likewise, Balenciaga tapped into Fortnite, and Ralph Lauren revived the 1990s on Roblox. Gucci and Ralph Lauren have also appeared in Zepeto and raised $150 million. As NFTs became mainstream from obscure, Gucci was the first luxury brand to ta on the technology and entered to make an art film. Since then, there has been no turning back for NFTs and metaverse. Gradually, many leading luxury brands evolved strategies to reward their loyal customers and create VIP membership to promote the new-age technology in the fashion sector, especially among the new buyers. Burberry combined NFTs with gaming by selling NFTs through Blankos Block Party, where Burberry characters ultimately resold for eight times their original price in the game. Thus, it wouldn't be incorrect to say that several leading and budding apparel brands see a meaningful opportunity in the metaverse, but they have to be patient with their strategies to succeed.
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