The problems facing fashion in 2017 have been well documented, but less so the solutions. As technology becomes more sophisticated, its potential to solve problems becomes even greater.

Here we take a look at some emerging technologies and how they are being applied to turn businesses around or gain competitive advantage. 

How many are you investing in? 

The industry is facing huge challenges:

• Political and economic uncertainty
• The pressures of fast fashion
• The need for manufacturers to upgrade their capabilities and speed up the supply chain
• Changing consumer behaviour

So, how might businesses respond?

Recent advances mean fashion empires and start-ups alike are investing in new technologies to not only help them stand out online, but also optimise their value chain from marketing to retail. Businesses are becoming more innovative, creative and responsive, and able to ensure they get the right product to market at the right time for a fair price.

Fashion tech today is about so much more than improving the online shopping experience and converting sales, and digital technologies and digitisation have a huge role to play. 

Here are some examples:

• Alibaba - Alibaba's new payment system and virtual reality platform allows customers to pay by nodding their heads, improving conversion rates and potentially solving the problem of basket abandonment.
• Tommy Hilfiger - Just one of a number of brands currently experimenting, Tommy Hilfiger introduced Chatbots at New York Fashion week last year. It is still early days but the long term goal is to convert consumers via new means.
• Stitch Fix - Stitch Fix have been taking advantage of advances in artificial intelligence and applying machine learning techniques such as prediction, image detection, analysis, clustering, modelling and optimisation. The result is supercharged productivity, more effective utilisation of existing workers and superior innovation.
• Adidas - Following in the footsteps of Nike, Adidas are currently developing their own, unique 3D printing process to create personalised trainers that fit perfectly. The process uses light to fix plastic polymers to lattice designs. They are working to create bespoke shoes at a speed and price that allow for mass production, rivalling traditional methods.

And a whole range of designers are using smart fabrics and technology to create and manufacture beautiful, performance and high quality garments that are not only sustainable, but people actually want to buy.

Innovators such as Newlife, Smart Materials by Okinawa, Cupro, and Re.Verso have created sustainable smart fabrics already showcased to great acclaim by Donna Karan, Giorgio Armani and Gucci.

Are you investing in new technologies?

How are you using digital technology to drive your business?

Email us your thoughts.