Trends that will shape fashion retail in 2022
The fashion retail landscape has changed dramatically in the past two years. Now, online retailers are busy filling orders at an increasingly rapid pace and trying to reduce the wastage caused by frequent returns. Brick-and-mortar stores struggle to compete with e-commerce on convenience and on price. What can we expect to see from fashion retail in 2022? Here’s what we predict will be the hottest trends in shopping over the next year.
Brands will focus more on immersive experiences for online shopping
Modern consumers value experiences over things, particularly millennials, where 75% mentioned they prioritize experiences over material goods. E-commerce, however, has a significant drawback — the lack of a physical experience. Allowing the consumer to “feel” an item is the best way to sell it, and immersive technologies play a part here. Technologies like 3D visualizations of products, augmented reality (AR), and virtual reality (VR) help brands to turn the customer journey into a memorable experience and blur the line between online and offline shopping.
A great example of how a brand can use immersive technology for online retail is the partnership between Samsonite, a worldwide leader in superior travel bags, and Cappasity. Cappasity provides solutions for creating immersive shopping experiences. To make Samsonite’s online store more interactive and engaging, the brand digitizes its items in 3D View format (data format developed and patented by Cappasity). Thanks to Cappasity’s 3D technology, the brand’s customers have an opportunity to examine the items from different angles, zoom in, and explore the materials and details like they would in brick-and-mortar stores.
Jay Nigrelly, VP of e-commerce at Samsonite, commented on the partnership: “It’s important for our customers to have the opportunity to examine our goods in detail, and 3D visualizations allow us to bridge the gap between online shopping and brick-and-mortar stores. We chose Cappasity because their solution allows us to share comprehensive product information with our customers. 82% of visitors who select a product 3D View actively interact with it”.
Additionally, more and more brands are realizing the positive impact of AR technology on their bottom lines. AR is winning against flat product images as a whopping 61% of online consumers prefer to shop at stores that offer AR-enabled try-on and visualizations over those that don’t. 71% of them would shop more often if AR was offered. Providing consumers with AR experiences is a great way for luxury brands to showcase items in an interactive way, attract new audiences, improve customer experience, increase customer retention and, of course, increase sales. Since experience is so important for today’s consumers, AR technology can’t be put on the back burner in 2022.
The partnership between Victoria Andreyanova and Cappasity is an excellent example of how a fashion retailer can increase brand awareness with AR technology. Customers can place the models in a real-life environment, understand how the apparel fits the model, and imagine how it will look in real life.
Click the Cube icon to experience the item in AR.
Virtual try-on is another trend that has grown popular with the advancement of immersive technologies. Virtual fitting rooms allow customers to get try-before-you-buy experiences when shopping online. Keeping up with this trend will help luxury brands decrease the number of returns and boost online conversion. The ability to try on an item before placing an order is extremely important for jewelry buyers. Accessories, watches and jewelry are the third most returned category of products.
Immersive technologies like Cappasity 3D Views, AR holograms, virtual fitting rooms are great tools to improve customer experience, product awareness, and purchase confidence. For retailers, focusing on immersive technologies for e-commerce needs to be a top priority for 2022.
Fashion brands will enter the metaverse
With the advancement of immersive technologies, things are moving slightly towards the idea of the metaverse. The metaverse is expected to be a place where people can do everything they do in real life: work, study, shop, go to concerts, etc. Joining the metaverse will become one of the biggest trends in 2022 since the virtual world is a perfect channel to engage with millennials and Gen Z as never before. By entering the metaverse, users will be able to try on apparel and accessories, purchase virtual or real items, and visit brands’ online showrooms, amongst other things.
In 2022, Cappasity will launch the metaverse for e-commerce that will change the way we consume content and demonstrate products. It will be the first immersive platform for businesses and consumers — all the content will be demonstrated exclusively in 3D and AR formats. In the metaverse, users will visit brands’ showrooms and buy items using brands’ online stores. Our current clients will have the opportunity to become the first brands in the metaverse and attract new customers to their products.
You can already follow the news by subscribing at this website: 3DShot Metaverse.
While the metaverse may not be fully realized yet, that hasn’t stopped big names such as Gucci, Louis Vuitton, Balenciaga, Clinique and Nike from creating targeted content for virtual environments. Gucci, for example, launched a limited collection of accessories for the Roblox online game platform last year. The Gucci Garden, a pop-up on Roblox that sold the brand’s designs, saw one bag fetch $4,000 in real-world cash.
Sports giant Nike also jumped into Roblox with NIKELAND, a place where players can compete in various games, as well as enter a digital showroom to dress their avatar and check out the brand’s latest offerings. As the metaverse is coming to the forefront, fashion brands are starting to see the value in its ability to connect with a new generation of consumers and make them fall in love with the brand. This year more retailers will take a leap into the metaverse to find new ways of engaging with their audience and building a strong community.
We’ll see more NFTs from fashion brands
Gucci was the first luxury brand to create an NFT — an art film that went live in May 2021. Since then, most key players in the luxury fashion market launched their NFT projects. The question is, why fashion is so obsessed with NFTs? And what can we expect from NFT projects in 2022?
Firstly, non-fungible tokens are the perfect tool to speak to and engage with a next-gen audience that already values digital assets. One of the latest outstanding NFT projects is Prada’s partnership with Adidas. The brands are releasing a crowd-sourced digital artwork in a Beeple-style collage. What makes this NFT project stand out in the luxury fashion market are its community co-creation and co-ownership: anyone can submit to take part in the project and get a unique NFT for free. Then, 3,000 photos will be chosen and combined into one massive NFT patchwork. The brands not only engage with the audience as never before, but also help the community participate in the NFT space that they feel as though they don’t have access to.
Additionally, NFTs provide fashion brands with the opportunity to create digital items that retain value, which mimics physical luxury goods. Due to their capabilities, NFTs can guarantee the identity, origin, and other specifications of items. Thanks to NFTs, it’s now possible to protect digital products from counterfeiting and sell virtual luxury goods online. For instance, Dolce & Gabbana’s first NFT collection sold for $6M. This was a high-end collection targeted at the company’s traditional audience instead of the younger, crypto-wealthy gaming market. Experts say that luxury-branded NFTs could become a $56 billion market by 2030. Looking ahead, the popularity of luxury NFTs will continue to grow as fashion brands look for new ways of differentiation, creative experiments, and making revenue.
Soon, the users of the Cappasity platform will have an opportunity to mint and sell 3D NFTs and showcase their items in an innovative way. Proprietary utility token CAPP will be used in the provision of NFT services.
Fashion retailers will launch more digital-only collections
Digital couture has been on the rise for a couple of years. Virtual fashion, in contrast to physical fashion, is designed for avatars, social networks, video games, and other virtual platforms. Luxury brands’ obsession with digital fashion is obvious: it opens up many opportunities for brands. Digital fashion is a great way to reach a broader audience range. For instance, Gucci has presented a series of AR sneakers that cost only $12 but can’t be worn in real life. With its virtual shoes, Gucci intended to target tech-savvy Gen Z consumers who may not yet be able to afford Gucci’s physical products.
On top of that, digital couture will start to see dramatically increased demand thanks to the metaverse. Some brands are already experimenting with digital fashion for virtual places on gaming platforms. Balenciaga, for instance, has collaborated with Fortnite and introduced fresh looks for four of the game’s fan-favorite characters. The brand brought high fashion to the game and has allowed players to express themselves in completely unique ways. Within a metaverse where users can customize their avatars, digital fashion will get even more sought-after.
Another benefit of digital couture is that it allows for a less resource-intensive approach to fashion. According to UN Environment, the fashion industry produces 20% of global wastewater and 10% of global emissions. Digital fashion is an alternative to second-hand apparel and clothes made from recycled materials. It saves the earth from being depleted of natural resources used because of the fashion industry. Since Gen Z tends to be more environmentally conscious, more digital-only brands are likely to appear in 2022.