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30% of buyers follow fashion trends on social networks.
— GoodFirms Research
WASHINGTON DC, WASHINGTON, UNITED STATES, July 27, 2022 /EINPresswire.com/ — GoodFirms, the world-renowned research, ratings and reviews platform, recently released its latest survey report – The Global Fashion Industry: Trends, Customer Exchanges and Outlook. The report analyzes all the current trends, customer perception, industry competition, emerging concepts, key challenges, regulations and technological innovations in the global fashion industry.
The research begins by analyzing how the global pandemic has forced the fashion industry to streamline operations by looking at post-pandemic consumer behavior changes. Here, the study attempts to provide global fashion businesses, e-commerce businesses and local fashion players with valuable insights into fashion trends, consumer shifts and future outlook.
GoodFirms research identifies customer views on the current scenario of the fashion industry. Incorporating new methodologies, transitioning to new operational models, latest technologies, reworking marketing, etc. helps the fashion industry cope with uncertainties and generate more revenue, says GoodFirms.
The study also reveals key trends in the fashion industry; it includes the evolving role of digitization, adapting to WFH aesthetics, adopting D2C fashion brands and recommerce.
GoodFirms research also highlights the top tech trends driving the fashion world which are AI, AR/VR, metaverse, digital printing, blockchain, smart clothing embedded with sensors.
Cost, product quality, brand awareness and ongoing discounts are the top four influencing factors cited by respondents.
62.5% are more concerned about prices and clothing than fashion.
Further, the research reveals the important challenges facing the fashion industry in 2022: achieving net zero emissions in fashion production, improving the fashion shopping experience, high competition, balancing physical stores and online locations, etc.
Moreover, the analysis also draws attention to the future perspective of the fashion industry, such as how various inventions and technologies will automate, personalize and accelerate the fashion industry to build a more efficient, sustainable and focused sector. customers.
50% of respondents indicated that shopping made through AI analytics and algorithms was beneficial, and they think more retailers should choose this practice.
GoodFirms concludes that extraordinary use of technology will be most effective and productive in fashion manufacturing, distribution or retailing. As futuristic consumers are more aware of global issues, fashion businesses must commit to solving issues such as environmental impact and act in the best interest of all stakeholders.
Key findings:
–The future of fashion is going online as more customers shop through online stores/sites.
-42.5% say they closely follow current fashion trends.
– 80% of respondents prefer digital printing over traditional screen printing.
– 42.5% of respondents prefer personalized recommendations from online fashion brands.
– The industry is striving to achieve net zero emissions goals in fashion production.
– 67.5% of respondents reported that they would avoid a brand involved in violating environmental norms.
-42.5% of respondents believe that the fashion industry is damaging the environment.
-27.5% of people buy from fashion brands only when they know that sustainable raw materials are used in production.
–35% of respondents prefer to buy from brands that provide information about their green initiatives.
About Search:
The GoodFirms survey-“The Global Fashion Industry: Trends, Consumer Shifts and Outlook” was conducted between June 1, 2022 and June 24, 2022. It asked participants worldwide about their fashion preferences, purchasing behavior and payment methods, perception of the fashion industry and their perspective towards the environment and the key influences that drive their fashion product purchasing decisions. A total of 400 participants responded to the survey.
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About GoodFirms:
GoodFirms is a Washington, DC-based research firm that focuses its efforts on identifying the most outstanding and efficient companies that deliver results for their clients. GoodFirms’ research is a blend of new-age customer reference processes and conventional industry-wide reviews and rankings that help service seekers leapfrog and multiply their industry-wide value and credibility.
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