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B2B Журнал
17.04.2024 | Милена Мисоченко

The Future of shopping

Today, retail is in a state of transition, so Vogue Business announces the "end of the golden age of fashion retail" and publishes 17 articles about the future of retail.

We analyzed these articles and realized this:
In an article entitled "The End of Retail's Golden Age", Vogue Business analysts argue that the traditional fashion retail model based on physical stores and seasonal sales has exhausted itself. 

What influenced this?

Of course, the pandemic has made its own adjustments, at least accelerated the growth of online commerce and changed shopping habits. Plus the massive rise of social media, fashion brands are now using social media to interact directly with consumers. Here we also add the fact that the buyer has become "smarter" and more environmentally conscious, and brands have picked up on this. This leads to global personalization — the process of creating interesting and useful content for the user, using large databases to create a personalized shopping experience. And then new business models appeared — fashion brands began to experiment with new retail models, such as pop-ups and showrooms.

It is impossible not to take into account the rapid growth of technology and digitalization in general. More and more brands are using AI in advertising campaigns and when creating their collections, and some of them are completely creating virtual collections

Vogue Business argues that those fashion brands that can adapt to these changes will flourish, while those that remain true to the old models will lag behind.

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