Virtual Fashion is the trend of the future and it’s hard for fashion brands to ignore. However, every opportunity comes with a price tag. Embracing digital transformation in the business of fashion needs a big investment. Invest in infrastructure building and hiring skilled digital 3D artists. The opportunity is currently accessible to big reputed brands because they can afford it. But going forward the technology is going to be advanced and cheaper. So it will be available to startups and brands with limited investment. There is a growing demand for 3D mock-up artists and fashion tech pack designers who can develop virtual samples for online web stores. This is the new age of fashion design and sampling. There are opportunities and challenges for fashion brands entering into virtual fashion. Let’s delve deep into it.
Navigating the Virtual Fashion World: Opportunities and Challenges for Brands
As the fashion industry continues to evolve, virtual fashion throws opportunities and challenges. Embracing this digital transformation can open new avenues for growth and engagement. At the same time, it also requires brands to adapt to a rapidly changing landscape. And before this, it is a good practice to access and make a SWOT analysis. Let’s explore the opportunities and challenges that brands face in a virtual clothing world.
Opportunities
Virtual reality in the fashion industry has open up a lot of opportunities to designers, brand owners and most importantly, customers. Designers can check their creation live and brands can make their collection assessments based on the 3D and animated sample. Most importantly, customers can understand how an outfit will look and fits on them. All those at a very minimal cost. Those are some of the broader view. Let’s examine the unlimited possibilities that this technology has to offer to us.
Global Reach
Virtual fashion runs on online platform over a world wide web. So it allows brand to reach a global audience without even having a physical store. This opens up new markets and opportunity for global expansion for brands. What was not possible a decade ago is now the new normal and going forward it will improve at a rapid pace.
Enhanced Customer Engagement
This is a new experience for customers. So, they will be drowned in this for two reasons. Curiosity and better user experience. Virtual fashion shows and try-on apps can enhance customer engagement. This will ultimately create a memorable brand experience. It is easier to showcase collection through virtual fashion and adopt fashion trend and fashion forecast through virtual reality.
Cost-Effective Marketing
Virtual marketing campaigns and events are often more cost-effective than traditional methods. Since all the arrangements are done online, it offers brands an efficient way to connect with customers. Moreover, this can be put on video so that people can check it as and when they wish to. This not only gives a global reach but also repeat views and better customer engagement.
Data-Driven Insights
In today’s world of business data is the new fuel. Visitors who visit the online platforms and see the merchandise virtually leave some traces of them. Those data are valuable. Virtual platforms use those data and provide valuable insights to the brands. Those data are used to understand buying patterns and consumer behaviour. This helps them tailor their products and marketing strategies to meet customer needs.
Sustainable Practices
Embracing virtual experiences can help brands reduce their carbon footprint. Brands can minimize the need for physical stores and reduce travel-related emissions. Apart from this, it can avoid a lot of production processes and thereby save, water, help reduce pollution and money. You do not need to be physically present which saves a lot of effort and in the process a lot of pollution.
Challenges That Virtual Fashion Technology Creates
No doubt virtual fashion gives a lot of advantage over the traditional approach of fashion design and production. Yet, it is not full proof when it comes to employment, cost, security and privacy and so on. This technology also comes with some flows that needs to be addressed. There is an old statement “technology tries to solve a smaller problem and in the process it creates even a bigger problem”. Some of the issues and challenges are outlined as below.
Digital Infrastructure
Brands need to invest in robust digital infrastructure to support virtual experiences. As I have mentioned in the introduction, this is now only accessible to the brands that can afford. This affect the most to the sustainable streetwear brands as those brand owners are mostly startups. Virtual fashion can be costly and require technical expertise. So, it has not reached the mass so far.
Security and Privacy Concerns
Virtual platforms may raise security and privacy concerns. Today’s business is data-driven when a brand or company has a huge pile of customer data they can use it in whatever way they want. Customer data is sensitive and it can harm a mass in many ways. Especially when handling sensitive customer data or conducting transactions online. We read the online fraud now and then. So in this scenario, building trust and making customers feel safe is a tough task.
Competitive Landscape
It is a very competitive and brand needs to differentiate themselves to stand out. Especially with the introduction of Artificial Intelligence, anything can be copied easily. Apart from that to stand out and be on the race brands go to any extent. If you monitor this closely, the sufferers are the traditional brands and companies. It is not easy to cope up with such a fast pace.
Consumer Adoption and Resistance to Change
While virtual experiences offer many benefits, not all consumers may be ready to embrace them. There will always be resistance to change when it comes to adopting a new way of life. This is especially applicable to older demographics or those with limited access to technology.
Brand Authenticity
Maintaining brand authenticity and connection with consumers can be challenging. As we grow in technology we are limiting ourselves from face to face interactions. And this is happening across the industry. In a virtual environment, where face-to-face interactions are limited.
Strategies for Success
Success strategy for virtual fashion is tough but can be achieved. No doubt we are growing in terms of technological development, but are we ready to say goodbye to the old and legacy system that we have been using for ages? Adopting new things is good at the same time we have to make sure it does not affect our pace. Security as mentioned is the biggest concern so this needs to be addressed. Apart from there are a few more pointers that need to be addressed. Following are some of the to-do lists that brands and fashion companies need to consider and try to find a solution.
Invest in Technology
Brands should invest in cutting-edge technology. Creating immersive and engaging virtual experiences that resonate with consumers is costly. And not all brands have their band-width to invest heavily on technology and they fall behind.
Focus on Customer Experience
Customer experience is the key. So understanding the need of the customer and offering personalized service is inevitable. It is a good practice to offer personalized and interactive virtual experiences that add value and build brand loyalty.
Data Security and Privacy
Customer data is valuable. So ensure compliance with robust security measures with privacy regulations. This will help build trust and loyalty among the customers and help grow sales.
Sustainable Practices
Embrace sustainability in virtual operations by optimizing digital resources and minimizing environmental impact.
Adaptability and Innovation
Stay agile and innovative to adapt to changing consumer preferences and technological advancements in the virtual fashion world.
The virtual fashion world presents exciting opportunities for brands to innovate and connect with consumers in new ways. By addressing the challenges and embracing the opportunities presented by virtual experiences, brands can position themselves for success in an increasingly digital and dynamic industry.