Fashion is experiencing a change: how digital is changing fashion consumption, especially oversea?
The closing of 2016 brings some reflections on the fashion market in the US.
New York, the capital of fashion overseas, has slowed down leding to poor results for both department stores and the glossy windows that always would adorn Fifth Avenue street.
However, the very same situation can be found in major European capitals, a fact that suggests it is not only an economic issue but a major change in consumer behaviors.
Nowadays consumers are searching for the experiential side of shopping, switching logo showing off and possession logic for experience matters. This is confirmed by the positive results recorded by wellness, spas and beauty centers as well as high-end restaurants. Better an afternoon in these structures or a star dinner rather than buy a skincare product – albeit prestigious.
Moreover e-commerce phenomenon has upset the purchase logic, allowing consumers to have the product they want in the variant they prefer at the best price and straight at home. Going windowseeing no longer falls in the experiences to engage the day but has instead become a mere commodity. So Macy’s and other shopping chains have to move back in front of Amazon – the king and father of millions of satellite sites that promise apparel and accessories timely and tailored on customer preferences.
There is a new challenge for physical retailers that is to reinvent themself and to integrate as much as possible with technological innovations to keep pace with their advanced consumers.
Fashion retail will face difficulties to keep reaching its customers, nevertheless digital can be a threat but also an opportunity. Indeed a lot of fashion firms have already accessorized their shops with technological and social features that help visitors being at the same time online and in the physical place.