FEBRUARY - 2022retailtechinsights.com6Copyright © 2022 ValleyMedia, Inc. All rights reserved. Reproduction in whole or part of any text, photography or illustrations without written permission from the publisher is prohibited. The publisher assumes no responsibility for unsolicited manuscripts, photographs or illustrations. Views and opinions expressed in this publication are not necessarily those of the magazine and accordingly, no liability is assumed by the publisher thereof.EditorialLinda BurnsManaging Editoreditor@retailtechinsights.comRiding on the cusp of massive digital transformations, the fashion industry has been one of the fastest-growing industries in the world, generating an estimated 1.5 trillion dollars a year. However, the rising concerns regarding the need to satisfy the hyper-connected consumers of today are giving way to a crop of even more exciting novel technologies.One of the most in-demand technologies is virtual reality, with its widespread use in the fashion industry, enabling customers to try on outfits virtually. This gives greater accuracy, thanks to customized measurement functionality. It is also supplemented by augmented reality technology, which means that customers might be more likely to buy products they feel that they have tried on. Alongside, IoT is also gaining rapid traction with each passing moment. The use of IoT-based solutions in the fashion industry is not only limited to the application of wearables but also involves the stitching of invisible sensors onto cloth fabrics or enhancing interconnected apparel to perform various functions such as recommending the user about the product's materials, detecting the product if it is lost, or even facilitating style tips. IoT is making tasks easy for its users, helping them in curtailing the loss and enabling more efficient and effective management of inventory with its tracking feature. Besides, platforms now link design, merchandising, planning, product development, product testing, sourcing, procurement, production, and retail teams with one `actionable' source. This helps eliminate rework, errors, and lost time by improving team collaboration.By providing an in-depth look into these innovative breakthroughs and how they are revamping the use of technology in fashion, we hope this edition of Retail Tech Insights will help you build the partnership with the most notable fashion technology solutions providers to achieve the highest standards of brand presence and further grow your business. Let us know your thoughts!Redefining the Future of Fashion in the `Digital Age'*Some of the Insights are based on the interviews with respective CIOs and CXOs to our editorial staff FEBRUARY - 2022, Volume 04 - Issue 01 Published by ValleyMedia, Inc. 600 S ANDREWS AVE STE 405,FT LAUDERDALE, FL 33301 To subscribe to Retail Tech InsightsVisit www.retailtechinsights.comManaging EditorLinda BurnsEditorial StaffAaron SmithJoshua ThomasLisa DebraDerrick JohnJohn JamesSteven RichardVisualizerPresley MeadowEmail: editor@retailtechinsights.comsales@retailtechinsights.commarketing@retailtechinsights.com
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