As long as human have started to wear clothes, we’d have the desire to express our own individuality. One way of achieving that is through fashion. We all know that fashion industry is one of the biggest in the world with estimates at about $3 trillions as of 2018 which represents 2 percent of global GDP. No wonder why big companies like Amazon acquired shoe retailer Zappos for $1 Billion in 2010 and other retailers like Walmart, Target, Amazon and others have themselves entered into the fashion business.
If we talk about Artificial Intelligence then there is no field which is not implementing this technology to enhance business development as it was earlier. AI is transforming the industry from the way that fashion companies manufacture their products to they were marketed and sold. It is transforming every elements like designing, manufacturing, logistics, marketing and sales.
AI Helping To Manufacture, Promote And Sell Fashion Goods
Manufacturing good products is aim of all the companies and in fashion industry this job begin to be done with the help of AI. Also, creating demand and brand awareness is also plays a vital role as much it is important to manufacture fashion products.
This industry are constantly looking for new ways to get their good in front of buyers and create awareness and demand in the market. AI helping with enhancing shopping experience, improving the efficiency of sales system through intelligent automation and sales process using predictive analytics.
Fashion brands are also using conversational assistants through chatbots and voice assistant devices such as Amazon Alexa, Apple Siri, Google home and Microsoft Cortana. Using voice assistant they are gathering data by asking customers questions and understanding customer desires and trends.
In the documentary “Minimalism”, they share that there can be up to 52 seasons for clothing. Given the constant changes in fashion and design and retailers need to consistently keep up with the most current trends. But this is not always accurate because sales can be influenced by many factors that are hard to predict, such as changing trends. AI-based approaches for demand projection, however, can reduce forecasting error by as much as 50 percent.
If you’re also working on fashion industry and implementing AI in your products then do let us know in the comment section. We will feature you company our website.