What is Fashion Tech?
Let's start from the beginning. What is fashion tech? What types of fashion tech are there?
Overview
Short story: Fashion tech is the intersection between fashion and technology. It is the use of technology to innovate & move the needle in the fashion industry. Fashion tech not only includes the clothes we wear or the trends we see, but how we experience and interact with fashion, shopping, digital worlds, building and creating.
Long story: Fashion tech includes smart materials, fabrics, textiles and manufacturing. It also includes the digital worlds, digital garment, avatars, and software systems to aid in the design & creation of piece. The shopping experience has long stayed the same, but with fashion tech companies pushing the boundaries we now have augmented reality (AR) virtual try-ons, mirrors & filters that show you wearing different garments. Online, fashion tech companies are using data to make sure the size & fit of an item you purchase online will fit you as intended, just as it would if you were to try it on in stores. Lastly, an area that I feel the strongest pull towards: resale & rental. Resale and rental fashion tech companies are building (both peer-to-peer [p2p] and business-to-business-to-consumer [b2b2c]) ways to consume fashion in sustainable and affordable way.
A London advertisement for Reskinned, a b2b2c resale startup offering white label resale solutions to brands for easy access to re-commerce.
Fashion Tech Types
Inventory: The current state of fashion (especially since the rise of fast fashion) has manufacturers supplying a massive inventory in a short period of time to meet an ever-growing demand. However, this has created a monstrous issue, as a massive amount of items aren’t sold and have to be disposed of somehow.
Interested? Check out companies like Ghost, Trove, Loop, SuperCircle, Retraced, Syrup Tech, and more
Artificial intelligence: AI is redesigning fashion, with tools such as chatbots and personalized recommendations now commonplace. AI stylists are beginning to find their feet in fashion retail. These algorithms trawl through vast amounts of data – size, fit, style preferences, location, age, gender and more – to make styling suggestions that will best appeal to that particular customer.
Synthetic media: Utilizing advanced technologies such as AI and machine learning, synthetic media can generate realistic images and videos of clothing, allowing designers to experiment with new styles and concepts without the need for physical prototypes. This technology also enables virtual fashion shows, personalized marketing campaigns, and even virtual try-ons for consumers, enhancing the shopping experience.
Live streaming: By offering real-time sales, fashion shows, product launches, and behind-the-scenes content, brands can engage with consumers directly, fostering a sense of community and immediacy. This interactive approach also allows for instant feedback and purchasing opportunities, enhancing customer experience and driving sales.
Interested? Check out companies like Whatnot, Popshop Live, and more
Digital fashion: Digital fashion in the fashion tech industry is merging the physical and virtual realms, creating new opportunities for expression and sustainability. In virtual environments such as gaming platforms and social media, users can purchase and wear digital clothing, showcasing unique styles without the environmental impact of physical production. This innovation opens up limitless creative possibilities for designers and consumers alike, transforming the future of fashion.
Interested? Check out companies like DRESSX, Refabric, Digital Fashion Week, CLO, and more
Garments made with CLO.
Augmented reality: Augmented reality (AR) in the fashion tech industry is enhancing the shopping experience by allowing consumers to virtually try on clothing and accessories in real-time. This technology enables shoppers to see how garments fit and look on their bodies without needing to visit physical stores, increasing convenience and reducing return rates. AR also provides brands with innovative ways to engage customers through interactive marketing campaigns and immersive retail experiences.
Resale/Rental: These tech-enabled marketplaces offer consumers a sustainable and cost-effective way to refresh their wardrobes while extending the lifecycle of fashion items, while rental services allow consumers to access high-end fashion without permanent commitment. With advanced authentication and AI-driven pricing tools, these platforms ensure trust and transparency, making resale a mainstream and appealing option for fashion enthusiasts.
Interested? Check out companies like Cherry Pick, TRUSS, Depop, The Real Real, Vestiaire Collective, By Rotation, Rent The Runway, Fashionpass, and more
Metaverse: In this expansive digital space, brands can host virtual fashion shows, sell digital clothing, and engage with consumers in novel ways that transcend physical limitations. This integration of the Metaverse not only opens up new revenue streams but also offers a unique platform for creative expression and community building within the fashion world.
Interested? Check out companies like Geeiq, AUROBOROS, XR Couture, The Fabricant, and more
Blockchain & Web 3: Blockchain and Web3 technologies are revolutionizing the fashion tech industry by creating decentralized and transparent ecosystems. Through blockchain, brands can offer verifiable proof of authenticity and ethical practices, while Web3 enables new forms of digital ownership and interaction, such as NFTs and virtual fashion items. Together, they empower consumers with greater control over their fashion choices and foster a more transparent and innovative marketplace.
Search Engine: Utilizing advanced algorithms and AI, these specialized search platforms provide personalized recommendations, accurate size matching, and trend forecasting based on user preferences and behavior. This technology enhances the shopping experience by making it more efficient and tailored, ultimately driving customer satisfaction and sales for fashion brands.
Trends predictions: Customers’ interests and desires change rapidly in today’s world, and more so in the fashion industry. Big data science allows for a precise prediction of new trends, leaving the days of guessing or betting behind.
Interested? Check out companies like WGSN, Six Atomic, and more
Eco-materials & Textiles: These materials, often derived from renewable sources like organic cotton, bamboo, and more innovative sources like cacti & potatoes, reduce the carbon footprint and resource consumption associated with traditional textiles. By integrating advanced technology in material science, the industry i
s creating durable, stylish, and eco-friendly fabrics that meet the demands of conscious consumers and pave the way for a more sustainable fashion future.
More Resources
Articles:
https://medium.com/@treegotyou/fashion-tech-4849549d482e
https://ndaane.com/blog/everything-about-fashion-tech
https://article.murata.com/en-us/article/what-is-fashion-tech