The fashion industry, after seeing a major comeback in the business world in 2022, is ready to set new endeavours for 2023. New trends have been observed in various fields of the fashion industry, including online shopping, metaverse, automation, robotics, supply chain, and many more. It is also setting new ones for the coming years to grow and to build a stronger relationship with consumers.
1. K-pop’s influence on fashion will continue to grow
The popularity of K-pop has skyrocketed in the past ten years, thanks in large part to the likes of Psy (remember the Gangnam Style song?) and other outstanding musicians like Jungkook, BTS, GOT7, Exo, and so on. The world was introduced to fashion and culture by these artists, who also had an impact on the fashion business. A quick glance at the subject cloud of consumer conversations on fashion revealed terms like “Paris Fashion Week,” “Blackpink,” “Lisa,” “fashion show,” and Celine, whose worldwide brand ambassador is Lisa from Blackpink. Additionally, the impact of K-pop is much more noticeable if we sort the dialogue by people in the general public.
2. Fashion’s dedication to the environment is enduring.
In 2022, nearly 53 million internet references to fashion and sustainability were made. To go back five years, we used Google Trends and Consumer Research. Since 2017, the number of Google searches and consumer remarks about sustainability and fashion has continuously increased. If the current trend continues, it appears that ethical and sustainable fashion will be more significant than ever in 2023. According to Brandwatch Consumer Research, “sustainably created” and “slow fashion” were hot subjects.
Slow fashion, as its name implies, is the antithesis of quick fashion and falls within the sustainability category. Slow fashion is an ethical strategy that encourages customers to purchase fewer, higher-quality products that also adhere to particular ethical norms, such as using organic materials, forgoing animal testing, ethical production, and providing fair working conditions.According to the survey, many consumers talked about how sustainability and thrifting in fashion had gained popularity and affected pricing points as many firms leaped at the chance to think of a sustainable solution to increase profits.
3. Reducing anxiety related to purchasing
Many of us have now been working from home for a while, which has had an effect on how we dress for work and play. In addition, there is an overwhelming amount of information and variety available to buyers nowadays, whether it be in the form of apparel selections or stores. Anxiety while shopping is genuine. Along with growing environmental concerns, this has caused many customers to reconsider their wardrobe choices. According to recent UK research, 37% of customers aged 35 and older feel overrun by the sheer number of trends that are dominating fashion magazines and social media feeds. Fashion firms are trying to reduce consumer buying anxiety in order to engage and appeal to these customers. This will make shopping easier and more enticing. The industry leader in this area is Nordstrom, which saves your time by posting outfits on its website based on the most recent fashion trends.
4. Fluidity in fashion and retail will be a norm
Designers, businesses, and retailers have been compelled to reconsider their products, how they are marketed, and what the future of the shopping experience could entail as a result of shifting customer views on gender identity and expression. In recent years, it has been evident from the fashion industry that it is embracing diversity and working with models from diverse backgrounds, as well as the resurgence of boyfriend jeans and cargo trousers. It’s significant that celebrities are supporting gender-neutral attire. Harry Styles introduced a gender-neutral cosmetics line in 2021. In addition, Maluma recently unveiled his first fashion line for Macy’s, which is described as “embodying inclusion and a fluid design idea that enables consumers to mix and match across the women’s and men’s collections.” While a loose cut—which both boyfriend jeans and cargo pants share—allows for greater mobility, gender-fluid clothing allows for more exploration and experimentation. Even if there is some disagreement, many people will most likely find satisfaction in this trend in 2023.
5. Recommerce, often known as “resale as a service,” is a new area of retail
Statista estimates that the worldwide market for used and resale clothing was worth $96 billion in 2021 and that it will be worth $218 billion by 2026. The fashion industry has been forced to innovate by a rising trend toward sustainability in clothing. RaaS, or resale as a service, is a new retail segment that has grown over the past several years. Reselling as a service has completely changed how people buy and sell used apparel and accessories. Consumers no longer need to physically visit a secondhand store to engage in “thrifting.” But it goes beyond that. RaaS facilitates more eco-friendly business practises while making it simpler for manufacturers to resell clothing. Some companies, like Patagonia, have already introduced their own secondary markets. Others have collaborated with businesses like Poshmark and ThredUp, which allow brands to sell gently worn goods straight to their customer bases. For instance, Athleta and Madewell have partnered with ThredUp to let their customers trade in gently used apparel in exchange for in-store credit that can be used to buy new goods. In the “Partners” area of the ThredUp website, trade-in products are later sold. It is estimated that there were internet discussions between June 1 and December 1, 2022, about five well-known secondhand platforms. Poshmark, ThredUp, Depop, and TheRealReal all had an increase in mention volume in the second half of 2022 when compared to the first six months. Collaborations with resale markets may be quite advantageous for fashion industry firms. The advantages may include obtaining additional information about your prospects and clients and gaining access to additional avenues for earning money. Additionally, it is crucial to enhance brand perception since customers increasingly value brands that care about the environment.
