In a world of constant change, we find ourselves needing to communicate more, be more connected, and have major interactions on the internet. We consume technology in a faster way; within a blink of an eye everything changes. It is more common to hear concepts such as fintech, bitcoin, wearables, virtual and augmented reality, internet of things, 3D printing, e-commerce, etc. But how do these new technologies impact the fashion industry?
When we talk about the future of fashion, we imagine a far-reaching scenario, but the future is now! New technologies have let us generate sensations and new experiences, building a bridge between fashion brands and consumers. One example are the new forms of production, such as 3D printing. It is clear that people demand products with personalized designs, which is a great opportunity for designers and creatives. Another example is the development of smart fabrics that add a greater value beyond traditional textiles. Pieces are being produced with sophisticated fabrics that have been built with new technologies that provide comfort to the user, as well as communication and transformation, including wind resistance, heating or cooling, changing color, illuminating, and conducting electricity or sound. In Latin America, one of the representatives of smart fabrics is Thermaltech, a Mexican company that develops textiles and smart yarns. Surely this suggests a great forecast for the development of the Fashion Tech industry in Latin America!
FASHION TECH relates to the companies that are based on technologies, which also goes together with a new way to sell and consume fashion called retail-tech. This is an internet platform that impacts distribution, marketing, and fashion sales at a international level. Retail-tech compels the brands, designers, and companies to reshape their business models through e-commerce, with the facility to do shopping online, such as Farfetch, and the traditional showrooms to rediscover the way to give new experiences in shopping to clients through technologies of Internet of Things (IoT) or Virtual Reality, which is the case of Inition, a United Kingdom company that created an interactive virtual catwalk at Westfield shopping center for visitors to create an innovating opportunity to draw the brand closer to the consumers.
Even though wearables are more common in our everyday life, in fashion they are trending as a new lifestyle, and it is a perfect combination of style, which together with these fashion wearables, give a follow-up to fitness routines, mobile alerts, payments, and transfers replacing credit cards. This is the case of Kerv or Ringly, a smart jewelry brand that helps to keep the user connected through notifications with slight vibrations that link a ring with an app on the smartphone.
However, when we talk about the development of the Fashion Tech industry, we also have to address the challenges facing the merger of the two industries, "fashion and technology". The greatest challenge is to adapt and understand the functionality, aesthetics, and style in clothing and accessories. These new technologies play a role that necessarily means paying attention to factors such as economic, social, psychological, and emotional dimensions, with all of this in place to achieve a real transformation that brings value in the development of new and better products in the fashion industry, including an innovation of materials, manufacturing, and distribution.
Wearable Fashion Mx is an innovation studio. We consult with brands and companies in Latin America to provide design and development of fashion tech and wearables projects. We believe that technology has changed the meaning of distribution and fashion consumption, along with social media and fashion blogs. We work to inspire a context of digital transformation of Fashion Tech, key tendency in the path towards economic innovation, technology, and creativity for prosperity in the fashion industry.
Written by Daniela Maga Founder WF MEXICO
Twitter & Instagram: @bydanielamaga