The pandemic has already accelerated the digitization of the fashion and luxury sectors. Luxury brands that were traditionally reluctant and slow to embrace electronic and digital commerce had no other choice than to move to digital solutions. Therefore, in 2020, eCommerce suddenly boomed in the US and attained an astounding ten years' worth of growth in three months. This indicates the scope and needs to explore more opportunities to gain more heights in the virtual space. Bags designing software, a customization solution, enables fashion companies to leverage the latest eCommerce trends and expand their business.
Handbag Design Software Offers Solutions to Prosper in the Virtual Space
With the rising inclination toward the digital sphere, brick-and-mortar still holds a significant market share for luxury brands; the future undeniably includes a significant digital component. To that end, there are huge digital trends and some challenges that they raise that luxury brands need to consider as we go along:
In the current blog, we shall highlight various trends driving the future market trends. Let us explore them:
· The Increasing Demand for Virtual Try-Ons
Virtual try-on is not a novel concept in the fashion domain, and it uses augmented reality technology to let customers sample some products using a webcam or any other camera-equipped devices, such as laptops and smartphones. Technology in the virtual try-on arena-which enables shoppers to try on anything from cosmetics to clothing virtually and even to use biometric scanners to identify the perfect fitting clothes or any perfectly suited handbag. Besides the rising practice of social distancing and contactless payment, this new shopping method has witnessed a wide-scale adoption across eCommerce channels.
However, with the reopening of physical shops, brands and retailers are still relying on digital experiences because it attracts more customers. The connect-shopping concept drives in-store shopping experiences, which customers have caught well to spend more time in the store than they normally do while shopping online. The margin rates in these conditions are higher, and return rates are significantly lower. Statistics provided by Snapchat and Foresight Factory indicate that 35 per cent of US consumers would go out of their way to visit a store. These statistics are far more promising and suggest that any stores had interactive virtual services, such as smart mirrors, for trying luxury products. Additionally, 62 per cent of US buyers have already used AR and say that the technology helped them purchase even more.
Likewise, the bag design online helps fashion and luxury brands capitalize on these trends and let their customers define their fashion choices aligned with their personalities. The customization tool comes in a mobile responsive layout and enables your buyers to select, design, and preview the product using 3d technology before heading for the final payment.
· The Rising Trend of Non-Fungible Tokens (NFTs)
The NFTs are one-of-a-kind digital assets that can be used to represent products, such as videos, digital garments, videos, works of art, and many other items. These products can be bought and sold like any other property. While the new business monetary system has been around 2014, it gained its due respect in 2021, with several artists driving multi-million dollars auctions for their NFT artworks. In fact, even the luxury brands, such as Gucci, Rimowa, Burberry, and Louis Vuitton, have already launched their NFTs to reach increasingly digitally-connected consumers.
NFTs have already been touted as promising anti-counterfeiting applications, a particularly relevant proposition in light of the ever-growing global market. And with second-hand fashion increasing sales of counterfeit luxury goods have helped fashion and luxury brands to carefully assess the landscape for the NFTs and following technological advancements. This may not have a simple process, but NFTs can be used to record the provenance of physical products and aid in authenticating the product into the digital world, which can also help restore consumer confidence in a resale industry that has been riddled with counterfeiting controversies.
Closing Comments-
In the end, all we can say is that digital technology is the only sustainable solution that allows companies to mould their business models in whichever way the landscape changes. The new-age solution can help fashion and luxury brands to develop a transparent and engaging customer experience while offering online shopping. The bags designing software by iDesigniBuy offers similar modern solutions to luxury fashion brands and help them to strive for new heights in the fashion domain. Its relevant and robust business solutions empower brands and retailers to use modern techniques and provide exceptional customer experience with customization and digital features.
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