The future of fashion

The facts:

The global fashion industry is worth a staggering $2.5 Trillion per year, but it’s not just about buying the clothes – it’s about making a statement.  As the industry continues to grow and people increasingly look for things that represent themselves and make them feel something, it is becoming more difficult for consumers to find what they like, and more difficult for brands to reach their target audience.

70% of fashion executives believe that traditional methods of reaching consumers are no longer working.  They know a new approach in marketing is going to be crucial for their company to continue to grow or even survive.

Our phones, emails and social media feeds are all being overrun with marketing messages, it is reaching the point of overwhelm and it’s only going to get worse as the industry continues to grow.

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Think about this for a moment:

You want to buy a new outfit for work.  Where do you get your inspiration?

Most people will go to straight to social media to check out what influencers are wearing.

And in fact, 74 % of consumers consult across multiple social media feeds before purchasing an item of clothing.  This is why the influencer market is growing at an exponential rate and is expected to be worth 22.3 Billion USD dollars by 2024

But consumers have become more savvy. They understand business and know that many of the influencers on social media are tied to brand deals and as a result, consumers are starting not to trust recommendations as much as before.

Anyone who has ever gone to social media to get fashion inspiration will agree that it is difficult and frustrating trying to find outfits that they like and would actually wear day to day.  And if they are lucky enough to find something they like, can’t find where to purchase it.

What about times you know what you want, you just want to buy a specific item of clothing eg a new jacket?

How do you find something you like?  How will you be certain that it looks good?  How do you know if it will fit?  How do you know that it is good quality?  How do you know it will actually arrive if you buy it online?

There are an estimated 8 million fashion e-commerce stores, and that number’s not slowing down.  Consumers are overwhelmed by the multitude of choices available to them.  They don’t have time to go through all the websites and visit many more fashion stores offline to find that one gem that they love.  And as the industry grows, it will become increasingly difficult for consumers to find that one gem, and more difficult for a brand to capture, or even find their audience.

But what if you are lucky enough to find that one gem?  How do you know what to wear it with?

Will it look “good” with the jeans you have at the back of your cupboard?  Or what about with that shirt that you saw in a shop 2 days ago?

What makes you decide to buy that one gem? What makes you certain that you will wear it?  How do you know that you aren’t wasting your money?

With all these questions, so many options and not many practical solutions, we can see how the average person spends 100 hours per year (8 hours per month) in their closest trying to decide what to wear, why we have on average 15 items of clothing in our closest that we never wear, and how we end up sending 85% of textiles we buy every year to landfill.

So what is the solution?  What is the future of fashion?

1. Centralised

The fashion industry will be bought together on one single platform and give unbiased fashion inspiration based on the current trends from around from both online and offline stores, to give consumers ideas about what to wear everyday: what to wear to work, at the soccer, on holidays – in whatever style the consumer chooses.

2. Streamlined approach to finding that one gem!

Finding that one gem will be quick and easy.  Consumers know what they like, they all have their own unique style, they don’t necessarily want to see more, they just want to see more of what they like, in a style they like, regardless of brand and to be able to delete the rest!

3. Interactive

Weather we realize it or not, we all want confirmation that what we are about to purchase looks good.  We want to know that what we wear will looks good on us; we all want to feel good about what we wear and how we wear it, this is important to build confidence and self-esteem.  And it is that ultimately drives the purchase.

4. Sustainable

Consumers are becoming more and more environmentally aware, they have a limited income, and they already have a wardrobe full of a mixture of different brands.  Consumers are, on a whole, becoming more aware of what they buy.  They are choosing carefully what they buy, when they buy it, why they buy it and how they buy it.

Consumers are wanting to make use of what they already own: they want ideas, inspiration of how to get the most out of what they already have in their wardrobe and how they can wear it with new items they purchase.

In summary:

The future of the fashion industry will be based on shopping by style rather than brand, it will be quick and simple, centralised, personalised, targeted, inclusive of online and offline stores; give trusted, unbiased advice; and be sustainable, interactive and fun;  and most importantly, it will be centered on fulfilling the needs of consumers rather than the promotion of brands.  It will be focused around serving the consumer in fulfilling both the practical and also the psychology needs.

About Infinity Inspirato Pty Ltd

Inspirenine is a platform application that brings every online and offline fashion store and brand from around the world together to one place in an effort to help consumers discern; what to wear, how to wear it, when to wear it as well as where to get it from, a quick, simple, interactive and targeted process by inspiring users with styles rather than brands.”

Inspirenine leverages the fashion prowess of influencers and stylists to help everybody find and create the perfect outfit.

Users will be able to be inspired by influencer’s looks – helping users to make the most of their current wardrobe, and be shown exactly where to purchase each item of clothing.

Inspirenine is set to become the centre of fashion inspiration globally.

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