How technology is disrupting fashion

Abstract

This thesis analyzes how the fashion industry has begun to leverage technology to increase branding, improve products, drive sales and experiment with new business models. Overall, the fashion industry has been slow to embrace technology, but in the past ten years that pattern has changed. Fashion/tech startups emerge daily, undercutting monopolies and influencing the way people shop and connect to brands. Meanwhile, established retailers are in search of ways to connect to the digital customer and looking for new, innovative partnerships. However, both startups and established companies have had mixed results in incorporating technology. After examining what tactics has been successful and what paths has failed, the recommendation for retail executives is to use technology to facilitate customer needs vs. attempt to create them. When there is a consumer-based "pull" effect, the resulting fashion product tends to resonate with shoppers. However, when brands or entrepreneurs attempt to inject or "push" technology into fashion simply because the capability is there now, the product fails to gain early traction.