Smart Technology Sweeping Fashion Djenane Jean

The emergence of smart technology has been vastly transforming fashion, substantially differentiating the industry to the decades prior. The introduction of smart fashion is currently trending and products such as the Apple Watch and Google Glasses aid in generating a new platform for today’s technology to coincide with the fashion world.

The opportunity for fashion brands to become disruptive innovators is a market relatively untapped and will change the future of fashion.  For stakeholders there is truly no better time to be a part of this undertaking than now.

History of Wearable technology

An early piece of widely adopted wearable technology was the calculator watch introduced in the 1975. Since then technology has progressed to devices such as FITBIT and the Apple Watch.

Wearable Market and growth

As the wearable market grows and technology improves, consumers will increasingly look for more stylish and fashion-forward design in wearable products, according to a report by Fashionbi. "We desperately need the fashion industry," said Ayse Ildeniz, vice president of the new devices group at Intel Corp., "The fashion industry understands the aesthetic sense, but also it is very much in tune with why a woman would wear something on her body."

The wearables market has big-dollar potential: financial services group, Cowen and Co. estimates it will grow to $170 billion by 2020.

Consumers are eager for devices that combine fashion and function and can easily be incorporated into a wardrobe.When it comes to fashionable wearable technology, watches are leading the craze.

According to "Future of Wearables Requires Combination of Fashion and Function: Report", an article featured on Luxury Daily, consumers of luxury items are more likely to select devices that are visually pleasing that combine fashion and function. From a brands prospective, this means that the opportunity to widen your target market will be opened to both fashion and tech supporters. Style is a key element in designing wearables,the collaborative efforts between Tag Heuer, Google and Intel signifies competitive results

Challenges managers and chief marketing marketers need to be aware of

  • The main challenge in such a dimension includes finding the cohesive relationship of creatives in fashion to work together with technologists toward producing smart fashion and wearables that customers will regard as aesthetically interesting and useful.
  • Oftentimes the tech side of the equation need fashion designers to put the "wear" back in wearable. Tech experts are not keen to the latest aesthetic trends.
  • There are many skeptics in the fashion world.
"The problem with technology is it's a bit cold. It's a bit sharp," said Carine Roitfeld, editor in chief of CR Fashion Book and global fashion director at Harper's Bazaar.

Recommendations

In 2016, tech savvy customers are also highly invested in fashion while countless of tech savvy individuals are extremely invested in their field. Being an early adopter in pioneering this technological merge will have such an impact not only on fashion but the future at large. The power of your brand will be heightened to momentous levels that will never be forgotten and will be respected until the end of time.

Retailers can benefit from carrying exclusive tech devices in department stores, which could bolster foot traffic. If easily tangible retailers such as Macy’s, Bloomingdales, or even Abercrombie and Fitch for instance started carrying more smart technology, the devices would gain plausible popularity.

A majority of items that are featured in high fashion are extremely expensive. If the retailer were to offer incentives to purchasing the wearable technology, consumers will be more inclined to make the purchase. Intel for instance is creating a smart bracelet designed by the Council of Fashion Designers of America, that will be available at Barneys. Although the details of the bracelet have not been released yet, if Intel were to offer a discounted rate on any other Intel product to those who purchase the bracelet, more tech savvy individuals would be inclined to purchase.

More Smart Technology

Digital Fashion pioneer, Frances Bitonti used 3D printing to create these wedges, (top) Misfit is calling its Ray Fitness and Sleep Monitor the company's most versatile activity tracker (left) WiseWear is working with Iris Apfel on their debut line,with functions including distress messaging, activity tracking and mobile notifications. (right)
3D-printed dress for Dita Von Teese by Michael Schmidt and Francis Bitonti

Reference List

  • Edelson, Sharon. "No. 3: The Rise of Wearable Technology." WWD. N.p., 19 Dec. 2014. Web.
  • Holmes, Elizabeth. "Tech Companies and Fashion Designers Try to Put the 'Wear' in 'Wearables'" WSJ. N.p., 11 Sept. 2015. Web. 9 Feb. 2016.
  • Jones, Sarah. "Barneys Enters Wearable Technology Market with Exclusive Product." Luxury Daily. N.p., 8 Jan. 2014. Web.
  • McDowell, Maghan. "CES 2016: The Best of Wearable Technology." WWD. N.p., 11 Jan. 2016. Web.
  • Sorin, Kay. "Future of Wearables Requires Combination of Fashion and Function: Report." Luxury Daily. N.p., 3 Aug. 2015. Web.

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