With the arrival of big data, the fashion industry is seeing changes in the way designers create and market their products. Regardless of class or culture, fashion appeals to almost everyone around the globe, but still, different customers seek different clothing items. What big data brings into the picture is valuable information for designers so they can create products that will sell well.
The battle of sexes
A key point for all designers is the choice between selling women’s or men’s clothing, whether it’s accessories, high couture or everyday clothes. Every designer has a different target demographic so understanding who is more likely to purchase their products is imperative for the success of the business.
Big data clarifies how and when consumers make their purchases, how big those purchases typically are and how many items are bought. This data can help in deciding which lines are more relevant for the business success and choosing between women’s and men’s wear could be a deciding factor.
Favourite colour trends
Current global trends do drive the fashion industry but what fashion companies also need to know is which colours are favoured by their customers. This is where big data steps in revealing the most popular colour trends among consumers so the design can easily be changed and adapted according to the demand.
Big data shows the range of colours that were selling best so out of that, the company can choose the spectrum that is the most popular. The use of big data is simply “ it’s comparing colours sold by a particular business and guides the designer and the production by keeping in mind the desires of customers.
Runway fashion in retail stores
Retail customers rarely get the chance to see the designs that walk down the runway at fashion shows. These items help launch the brand to the public domain but they’re almost always altered before they reach the retail stores. What big data does here is help designers understand which of their items and outfits will be most successful once they reach the retail shops all over the world.
According to the Master’s Degree in Fashion Design and Business at Raffles Milano, preparing candidates to work in the fashion industry doesn’t only involve learning fashion design per se, but it needs to cover business topics such as research and trends, textile merchandising, contemporary aesthetics, fashion marketing and trend analysis, in order to provide future designers with all the necessary knowledge and tools to develop their designs, adapt them and launch a successful career in fashion.
The cost of each garment
Another important part of the success formula is the pricing of garments once the fashion show is over and the outfits have rolled off the runway. Each garment is given a price to be posted inside stores and big data makes it easier to produce an average price that will drive sales.
Designers need to be willing to accept these prices in order to sell them to targeted customers. Garments that are too pricey will only sell to those buyers who can afford them and they must be priced so they can compete with other haute couture items on the market. Items targeted at the general population must be offered at a reduced price so here, designers can use big data to determine that price as each product will take on a price derived from the previous year’s data.
New product categories emerging
Each business needs to develop new products that will be successful in the future. Big data can also help in this aspect by revealing which products should be pursued and which should be avoided. It’s a fine line that many fashion companies must walk when deciding whether or not to produce an entirely new product will make them or break them.
Relying on consumer mass appeal can also make or break a business. For instance, putting out a brand new complicated pattern in sports leggings department can give you an advantage over your competitor whereas in the shoe department, this could be the one that puts you under. Using big data can be of great help when choosing the product that will help you expand your business or deciding to stick with the existing line. Remember that in both cases you can increase your average order value through product recommendations.
There are many ways a fashion house can go in
order to expand their brand but using big data in the process is what will help
them remain competitive. It’s certainly necessary to create new products that
are most likely to sell but it can’t be done without first referring to the
data collected beforehand. The operations of the fashion industry are changing
as creative designers turn to analytics to run their companies and by selective
use of data, they can all create new lines and convert existing products so the
customers stay loyal to them in future.
