By Alex Miller
December 20th, 2022
BURLINGTON, ON
There’s been a revolution in the way people buy fashion. In the past, shoppers would head to high street stores and wait for sales to tempt them into splurging on luxury brands. But this process can be slow and laborious. With the rise of digital channels, buying fashions has become a much quicker and easier experience. If you look closely, trends have always played a big role in what people buy. From new style rules to the merging of departmental stores, fashions have changed over time as consumers have evolved and new ideas have taken root.
How do you put yourself at Fashion events without leaving your living room? NFT’s are one of the solutions being offered.
Today, more than ever before, we’re experiencing an era of disruption where old ways of doing things can’t survive if they aren’t adaptable and innovative. While we talk about trends and the world is proceeding towards a new dawn of digital transformation, here is a brand that has been a part of this revolution for a while now. ice7 casino has a wide array of offerings to choose from and makes your free time worthwhile.
Luxury brands have increasingly ventured into the digital realm, exploring new means of introducing NFTs to their product ranges and marketing campaigns in an effort to stand out. Some prominent brands joining the bandwagon are Burberry, Gucci & Louis Vuitton.
In this blog post, you can discover some of today’s most prominent trends that are likely to impact the way you buy fashion in the future — as well as potential opportunities that come with each one.
Close ups of what the fashion world is planning.
What Is an NFT, and How Does It Relate to Fashion?
A non-fungible token is recorded in a blockchain and is cryptographically linked to a unique digital identifier. It is used to certify authenticity and ownership. With its advent, the fashion industry has been striving to win a piece of this exclusive piece of technology to increase its brand awareness and take the fashion game up a notch.
The Advent of Metaverse Fashion
With more and more immersive technology becoming available and the developer’s race to create newer digital products that enhance a user’s experience, it is no surprise that Metaverse is becoming quite a popular trend that fashion brands want to make use of. There was an NFT fashion show that was hosted sometime back, which showcased brands like Dolce & Gabbana, Karl Lagerfeld and Tommy Hilfiger in their glory. These brands took fashion design to the next level by collaborating with digital designers. This show was a success wherein these brands were able to get registered users to try out and buy NFT wearables for their digital avatars. Now, this is what is truly the next level of fashion.
The Rise of the E-Commerce Marketplace
More and more people are saving money by shopping online. In fact, one in three people says they regularly shop online, compared with just one in five people who said the same back in 2004 (Bank of America Research, 2017). This rise in online shopping has led to an era of exponential growth in the number of e-commerce start-ups. These start-ups have been creating innovative ways to reach consumers, including the use of artificial intelligence, blockchain technology and virtual reality, to name a few. Online retailers have become more than just places to buy: they’re also powerful marketing tools, driving brand awareness and securing future sales. E-commerce companies have also become more than just a Marketplace — they’re also data-driven businesses, tracking customer behaviour, shopping interests and more.
With an NFT you could be part of the fashion show audience seen on the left.
Exclusive and Unique Content
Exclusivity is up for grabs when it comes to NFTs in the fashion world. Brands like Gucci launching their Aria collection and NFTs named Gucci Grail – featuring 11 collections showcasing popular brand-inspired avatars like Cool Cats and more. Another notable mention is that of Adidas; they have executed a similar brand engagement strategy with collections like Punks Comic.
The Upgraded Video Game Collectibles
It was the first luxury brand to create a virtual album when Burberry recently launched Blankos Block Party, a game that features only luxury brands. Louis Vuitton created its own game in which players explore worlds and collect 30 embedded NFTs. There is a chance to win an ultra-rare NFT once players collect enough, and once they do, they can use it on social networks as a unique avatar.
Bottom Line
The digital transformation of the fashion industry is happening at a fast pace. The digitization of platforms and channels, as well as data management and profiling, are enabling brands to reach more customers than ever before. The future of fashion is in an exciting and significant phase of change, and it’s happening now. As the pace of change continues to accelerate, it’s important for retailers to be adaptable and nimble enough to keep pace with the times. There is so much potential for both new and existing retailers to profit from the future of fashion. Retailers can benefit from the increasing popularity of e-commerce, as consumers are more likely to shop from home if they know they can get great value and selection from the brands they love.
Ready to explore the future of fashion? Let’s get started.
