Digital Integration and Iot another Move for Fashion Retail Industry: Ken Research

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Digital Integration and Iot another Move for
Fashion Retail Industry Ken Research
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Latest technology, integration, innovation and
personalization are the major factors involved in
the global fashion retail industry in the recent
years. The year 2017 in the global apparel retail
industry appears to be stable, but not a
magnificent year for the market. The maximum
sales are primarily led by direct-to-consumer
channels and international growth. Studies
suggest that the apparel sector need to work
harder than ever to remain a priority for the
consumers to spend on apparels. Globally, the
younger consumers seek and spend more on apparel
services and gain more experience.
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• In the coming years the apparel retail market
  will witness innovation with new ideas in terms
  of technology and experiments on the apparels.
  The apparel retail industry growth will witness
  sales through online and offline shopping or at
  stores along with consumers and stores using
  technology more intuitively. These improvements
  attract what consumers wear, buy, shop and where
  to shop.
• According to the research report Apparel Retail
  Global Industry Guide 2016, with the increase in
  the competition among the online stores, some of
  the online stores are likely to shut down. Few
  department stores continue to struggle to survive
  by offering discounts, contemporary styles and
  fashion. The major factor affecting the global
  apparel retail industry is the increasing cost of
  the real estate space occupied for stocking or
  selling of the apparels. The declining department
  store sales led to establishment

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• of store known as Bonobos store that showcase
  their products without any stocks and the
  customers require to make their purchase online.
  Researchers say that these types of showrooms can
  help solve the difficult problem of markdowns,
  and help retailers limit in-store inventory.
• Normally, in a store the apparels are stocked
  according to size, colour and designs which
  occupy more space in the inventory. Whereas, the
  latest Bonobos store do not stock apparels but
  display more number of apparels with five styles
  in five washes and with 44 sizes. The global
  apparel retail industry is experimenting on
  various types of showrooms to evacuate the
  existing stores with very large inventory and
  reopened smaller showroom in the same place.
  Majority of the leading apparel companies in the
  world are looking forward to expand into their
  own branded physical retail spaces in order to
  approach consumers directly. Look for competitors
  are looking for

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• pop-up shops and other flexible physical channel
  activations to become more popular and brands are
  experimenting while growing out their physical
  channels. Retailers are embracing artificial
  intelligence for greater personalization. Leading
  retailers are taking advantage of advancements in
  machine learning, deep analytics and AI for a
  more targeted and personalized shopping
  experience.
• The changing fashion trend is the overall
  casualization of fashion that has expressed
  itself as athleisure. The increased drive toward
  casualization across all global apparel channels
  has led to the next generation of casualization
  that will be pajamas as weekend wear. Pajamas are
  not a new concept in fashion industry because
  majority of the college students worldwide have
  been wearing it for years that will now go main
  stream. New developments and growth in apparel
  industry is witnessing an explosion of
  sub-categories such as athleisure highlights how
  retailers are evolving into lifestyle brands.

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• Many leading competitors launched active wear and
  athleisure lines collaborated with celebrities.
  Customers wear relaxed clothing and majority of
  them are choosing to shop at home which gives
  more personalized services such as tailored
  subscription services. It was observed that the
  leading companies in apparel retail industry are
  more focused on lifestyle than performance with
  lifestyle brands becoming more active-oriented.
  Digital integration has led to big deals across
  all apparel retail channels. The year 2017 is a
  year of the smart stores. Internet of Things
  (IoT) technology is deployed in this sector at a
  quicker pace that will affect systems and
  processes across the entire apparel retail
  enterprise, particularly at the supply chain.
• Retailers are using technology to harvest data
  and are using it to develop solutions for the
  most pressing pain points in shopping journey,
  including fitting room problems, order fulfilment
  issues, tiresome checkout processes and others.
  Automatic checkout through

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• digital pay systems makes shopping experience
  more fun for consumers. Innovative solutions in
  the retail supply chain include digitally
  enhanced inventory transparency and searches for
  out-of-stock replacements. Todays worlds
  population is choosy about their mobile devices
  for internet-based activities such as shopping,
  therefore, smart phones have becomes the dominant
  platform. Majority of the apparel retailers are
  depending on social media and the latest
  applications in virtual reality to promote their
  apparels.
• Global apparel retail industry is dominated by
  the Asia Pacific, with a rapid growth in the
  middle class, urbanization, stable economy,
  availability of trained manpower at competitive
  cost, and local availability of most raw
  materials in India, China, and Japan. The
  favourable demographics in the global apparel
  industry are the increase in consumer spending
  limit, new shopping malls, and modern lifestyles.
  These factors maintain the balance between price

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• and quality which is the biggest challenge for
  the industry. This trend will witness a positive
  growth in the apparel retail industry in the
  coming years.
• Global Market Segmentation by Product Categories
  (USD thousand)

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• Key Topics Covered in the Report
• Global Fashion Retail Industry Analysis
• Global Apparel Industry Research Report
• Global Women Apparel Market
• Global Men Apparel Market
• Global Kids Apparel Market
• Global Apparel Retail Industry Revenue Analysis
• Global Apparel Retail Industry Distribution
  Channels
• Global Apparel Industry Mergers and Acquisitions
• Global Apparel Sales Gross Margin Analysis
• North America Apparel Industry Analysis
• Europe Apparel Sales Market Trends
• Asia Pacific Apparel Industry Research
• Global Online Apparel Industry Analysis
• Global Apparel Industry Major Players Market
  Share
• Global Apparel Market Online Sales

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To know more, click on the link
below. https//www.kenresearch.com/consumer-produc
ts-and-retail/textile-apparel-and-footwear/apparel
-retail-global-industry-guide/62085-95.html Relat
ed Reports https//www.kenresearch.com/consumer-pr
oducts-and-retail/textile-apparel-and-footwear/uni
ted-states-high-visibility-apparel/127847-95.html
Contact Ken Research Ankur Gupta, Head
Marketing Communications query_at_kenresearch.com
91-124-4230204
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