According to the statistics published by the United Nations, digital technologies have advanced more rapidly than any…The era of digitisation and technological development has enabled many African creative businesses – including fashion – to gain global visibility, reach a broader, more diverse audience and customer base, and various opportunities for more revenue.
These digital innovations are changing the rules of interpersonal relationship, business and communication. And today, fashion technology is growing at a faster rate than ever. The digital transformation in fashion has been set in motion by the greater adoption of the Internet by the general public on a global scale, which has forced businesses to develop e-commerce strategies and incorporate the multi-channel approach into their business models.
Live video streaming has also significantly impacted the business of fashion. Instagram commerce has dominated the post-COVID market in 2022, dominating everything from virtual events to health. High-definition streaming media formats are now possible thanks to 5G. Customers can now “try on” designs before buying them. Specific brands, including Tommy Hilfiger and Gucci, provide digital showrooms to determine the market’s desire.
The global pandemic has increased the fashion industry’s digital integration, but it is safe to say that the fashion business was already on its way to shifting online. While fashion creatives are experiencing a fast digital transition, e-commerce platforms such as, Shopify and Paystack provide many revenue options for creatives to monetise their knowledge as digital products.
According to a Mckinsey report, 32 per cent of fashion executives said digital technologies would continue to bring great opportunities in 2022. Increasing sustainability awareness is another opportunity for growth, according to the expectation of 12 per cent of fashion executives. She added, “in addition, I have a Price Calculator for creatives to help them increase their profit without losing customers or running out of cash. I might start selling digital patterns sometime this year as well.”