Key Growth Trends For Building A Next-Gen Fashion Brand
During the pandemic, the fashion and apparel industry was among the most harshly affected around the world. People preferred to not spend money on buying new clothes because they were spending more time at home. Luxury brands saw a large dip in demand whereas sportswear, athleisure, and comfort wear have been less affected.
One of the largest shifts in the fashion industry was the shift from physical stores to online shopping.
Companies are also looking to invest in digital innovations like virtual fashion shows, expanding into the Metaverse, and offering digital assets like NFTs along with other creative ways to boost commerce. While these trends look at a more long-term outlook, social commerce is the trend that is currently shaping the world of online fashion brands. Here’s why:
- 74% of consumers say that they are now more influenced to shop via social media than they were before the pandemic
- 70% of consumers list clothing as one of the product categories they shop for most on social media
Leveraging social commerce on-website and in-app will play a much larger role for fashion brands too. Let’s take a look at why brands are looking to move the human experience of shopping in physical stores online, not just for new customers but brand loyalists too.
In this ebook, you’ll learn about:
- The evolving buying behavior of modern consumers when it comes to fashion
- The top challenges that fashion brands are struggling to overcome
- The critical trends that determine the growth of digital-first fashion brands