If you aren’t convinced technology is reshaping the fashion business, just try to imagine the world without Instagram — and its viral offspring, the OOTD hashtag.
And there are even bigger changes afoot. On Sunday, I got a sneak peek at fashion’s future game-changers at Global Fashion Battle, New York Start-Up Weekend’s fashion tech competition. (If you’re a style blogger looking for future monetization opportunities, this is a must-read.)
Dozens of competing entrepreneurs pitched potential businesses that paired style with tech — all created under grueling deadlines. I was incredibly impressed with the entrepreneurs’ passion for the fashion biz.
I also couldn’t resist polishing my crystal ball to spot the trends shaping the next generation of shopping.
Here’s my round-up of the biggest fashion tech trends to watch:
Convenience Will Be King: Several teams pitched ideas hinging on near-instant delivery of everything from a hairdresser to a rentable coat. These types of services will be increasingly in-demand, thanks to what I call the “Amazon Prime effect,” which has spoiled consumers rotten. (I’m excitedly awaiting the day I’ll get shoes delivered by drone.) Perhaps unsurprisingly, the winner of the entire competition — a stylist-on-demand concept called Privilege — was in this category.
Style Bloggers Will Rule: The competing entrepreneurs believe in bloggers’ ability to move product. Several of the pitches’ marketing plans relied on the endorsement of style bloggers (often dubbed “tastemakers”) to create buzz and scalable demand. Even the e-commerce platform pitches depended on bloggers’ curation powers to tell the brand’s story. There is often chatter that style bloggers’ influence is waning, thanks to initial commercial success and resulting homogenization. But this would imply the opposite, which is great news for me!
Selfies Will Be Monetized: Every time you snap a photo and share your latest purchase on social media, you’re a free advertisement for the brand. Many of the weekend’s pitches focused on helping style junkies make commission from these social media selfies. Of course, there is lots of competition in this area already. But mostly, I’m surprised Instagram hasn’t taken a page from Twitter’s book and created this solution itself: After all, outside applications are famously clunky.
Opinions will be Treated as Currency: Today’s consumer is obsessed with getting approval from peers and style mentors. I saw a variety of pitches that monetized shoppers’ desire to belong – everything from crowd-sourcing friends’ opinions on a potential date outfit and personal, digital stylists who deliver instant verdicts on potential purchases. (This trend surprised me most – nowadays, trends are so diverse and global, I assumed shoppers had more freedom to buck convention. Lesson learned.)
So, you tell me: Do you agree with these predictions? How do you think tech will redefine how we shop?