Trends Ensuring eCommerce Growth in the Fashion Industry - IT Delight

1. Presented by IT Delight | 2022
CONTENT DELIVERY NETWORK:
A MUST-HAVE FOR ECOMMERCE
BUSINESSES

2. EYE-OPENING
ECOMMERCE STATISTICS
If the current rate of growth in eCommerce is sustained,
annual eCommerce sales might exceed $8 trillion by 2025.
Online purchases are expected
to reach $6.5 trillion by 2023

4. ENTERING THE
METAVERSE
As a term, “metaverse” can be interpreted in several ways. Although the
concept of virtual communities is still evolving, the notion is that
individuals would be able to engage in mundane tasks such as making
social connections, playing games, and making purchases in a digital
environment.
PrettyLittleThing, another popular fast-fashion company, has also started
using virtual models to promote its wares. The company announced the
contest on Instagram, where they introduced their innovative “avatar in
the metaverse” idea.
NFTs are being tested by retailers already, including athletic gear giants
like Under Armour. Because of their partnership with Steph Curry, they
were able to recreate the shoes he wore when he became the NBA’s all-
time leading three-point shooter.

5. BUSINESS IN THE
SOCIAL NETWORK

6. Many successful eCommerce fashion firms have made social media an essential part of their marketing
strategy. Considering how much time we spend on our phones, this is not unexpected. Users of social
networking sites and mobile applications now devote roughly 15% of their awake time to their devices.
Based on projections made in BoF and McKinsey & Company’s recent research, “The State of Fashion
2022,” social commerce sales in the United States alone are predicted to grow to $56 billion in 2023. Sales
from social commerce will top $600 billion by 2027. A worldwide standard has been set in the retail
industry thanks to social media.

7. BRANDING ABOVE
SPONSORED
ADVERTISEMENTS

8. By the year 2023, tech corporations such as Google want to prevent brands from collecting cookies in
their browser. About a quarter of IT execs believe the new rules would slow their company’s expansion
plans.
Branding can provide an alternative to costly advertising and restricted customer information. Research
shows that organizations that put resources into their brands have a higher likelihood of organic consumer
engagement and retention. Customers loyal to well-known brands are also more willing to pay higher
prices, therefore this helps companies improve their earnings.

9. Noémie is one example of a clothing label using this approach.
“We wanted to move away from standard concise advertising that did not generate an emotional
connection to our wares, so we expanded our promotions and the media we employed to include
storytelling advertisements.
Since we found that 20% of our audience was drawn in by promotions that used a narrative or
storytelling format, we set out to learn how to put this tactic into practice effectively.
We observed strikingly higher engagement rates than with conventional banner advertising or
brief films on social media when we told stories about our customers and distributed them in
content-rich forms like blogs, publications, and emails.
They were also a lot cheaper and versatile, making them a good choice. Our conversion rate
improved and our cost per client went down once we switched to a narrative approach.”
Yuvi Alpert, Brand creator, Creative Director, and
Chief Executive Officer

10. REAL-TIME
PURCHASING

11. NO SURPRISE CONSUMERS “JUDGE A
BOOK BY ITS COVER” WHEN
SHOPPING FOR CLOTHING ONLINE
The combination of online commerce with real-
time video streaming has given rise to an
entirely new kind of retail experience. By 2023,
the live streaming business in the United States
is expected to be worth over $25 billion, up
from an estimated $11 billion this year.
Online and physical stores alike have continued
to capitalize on the popularity of live shopping
and visual commerce. Some Parisian department
stores, including Printemps and Samaritaine, are
employing live shopping streams to attract new
consumers and increase sales.

12. SELLING
SUSTAINABLE
ITEMS ONLY

13. THERE IS NO LONGER A NICHE MARKET FOR
SUSTAINABLE AND ENVIRONMENTALLY
FRIENDLY ITEMS
Searches for eco-friendly products
have increased by 71% in the last five
years, according to WWF data.
What’s more, 73% of all buyers would
alter their behavior in an effort to
lessen the planet’s environmental
impact.
By 2030, Generation Z will constitute
the largest customer group
worldwide; 41% of this group say
they would pay more for sustainable
fashion; 58% say a brand’s intention,
value system, and goal matter.

14. MULTIPLE
METHODS OF
PAYMENT

15. FISGLOBAL
PREDICTS THAT
BY 2024:
digital wallets will account for 51.7% of e-commerce payment
volumes
debit card usage will fall to 12%
credit card usage will drop to 20.8%
E-wallets, credit, and debit cards will collectively make up 84.5% of all eCommerce spending by 2024. Various
payment methods are important to buyers.
In 2020, when consumers’ budgets were very tight, BNPL became increasingly popular. Some popular retailers have
started accepting BNPL as an alternative to credit cards, including GAP and Neiman Marcus. The most reputable
clothing stores are working with fintech firms like Affirm and Uplift to simplify the checkout process for their
consumers.

16. ADOPTING AI
CHATBOTS

17. colors
patterns
sleeves
silhouettes
Online customer service and support may take a technological leap forward with the help of chatbots. With
the rise of online shopping, several popular clothing companies have started using chatbots to provide
customers with more personalized experiences.
A consumer might expect to be greeted by a chatbot when they visit an online shop. The AI chatbot stylist
has a thorough understanding of the customer’s preferences, even the specifics of their favorite:
cuts, etc.
It remembers the customer’s dislikes so they don’t have to keep saying them over and over again, and it
takes those into account when suggesting products and clothing.

18. During a guided style interview, the chatbot stylist will ask a customer the same kinds of questions that a
real stylist would, using the same kinds of vocabulary. The customer’s unique fashion profile is then
developed by AI and refined with each engagement.
The AI stylist will not only provide suggestions based on the customer’s body type, skin tone, hair color,
and eye color but will also demonstrate how to wear the item being discussed in a variety of different
settings. These events might be anything from a night out on the town with your significant other to a
business breakfast with colleagues.
To top it all off, much like human stylists, you can choose from a variety of AIs that each has their own
unique sense of style. Customers who are more interested in the newest trends may consult with a stylist
who is equally trend-focused, while those who are more traditional can chat with a stylist who has a more
classic aesthetic. Every time a consumer visits a store, they are presented with a curated selection of items
and clothing that is tailored specifically to their body type, personal preferences, and upcoming events.
They will also be given advice on how to dress to accentuate their best features.

19. FINAL THOUGHTS
The fashion retail sector will maintain its unprecedented growth in eCommerce. At the end of the day, happy
customers and tailor-made services are driving this constant evolution. That’s why it’s crucial for merchants
to study the aforementioned trends and their inner workings, with all their implications. Customers are more
likely to make repeat purchases and recommend a store to their friends if they believe that the shop was
designed with them in mind. And it doesn’t matter whether it is a brick-and-mortar or online store.
For more information on this topic, you can follow the link 7 Trends Ensuring eCommerce Growth in the
Fashion Industry

20. Contacts
Office
Saint Petersburg, Florida (USA) 10601 Gandy Blvd
E-mail:
Site:
info@itdelight.com
itdelight.com
Limassol (Cyprus) Griva Digeni, 87-89,
Nikolaou & Zavos Centre
Köln (Germany) Max-Planck-Straße 22
Tel.: + 38099-240-40-71
+1-305-767-8838
Representative offices
IT DELIGHT