Fashion being one of the hottest and evergreen topics, this industry keeps evolving with time. The best thing about the fashion industry is its adaptability. You will always find solutions to your fashion query wherever possible. Similarly, the fashion industry has evolved itself with artificial intelligence. Let’s discuss how fashion brands use artificial intelligence.
AI In The Fashion Industry
AI has made its own place in the fashion industry and offers benefits from it. AI has changed the way manufacturers, retailers, designers, and customers used to see the fashion industry. Nowadays, it is more inclined towards sustainable fashion practices with fewer expenses.
Benefits Of AI In The Fashion Industry
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Sale Returns Can Decline
Almost 20% of clothes that are sold online get returned as the customer buys the product, and then after delivery, they do not find them suitable for their body type and shape. It results in wastage of money, time and the most critical thing, natural resources!
To resolve this issue, now we have software’s available on the web where a user will have to put their preferences, height, weight, occasion, and other personal details to get personalized AI recommendations. Those suggestions will help the website search engines to show the results according to the search query. Consequently, the number of cloth returns will decrease, and the return goods management team will be relaxed.
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AI For Inventory Management
Almost 10% of global carbon dioxide emissions happen due to cloth manufacturing, 20% of the world’s industrial wastewater is contributed from the fashion industry. Also, insecticides are used in the textile industry making it the biggest contributor to polluting the Earth.
Earlier, manufacturers and retailers used to estimate the trends, inventory and supplies required to meet the demands manually. With AI-based software’s such as Machine Learning, Deep Learning, Natural Language Processing, Visual Recognition, and Data Analytics. The market trends can be defined with more accuracy. Moreover, it is expected to have fewer errors in analysing trends.
Due to inventory management AI solutions, there is a reduction of 20-50% stocks warehousing that reduces the overall cost of the product too. Thus, customers can get the clothes at lower prices, and the supplier may get higher profits. -
Get The Trends Knowledge
It is vital to understand the market trends and create designs accordingly. In the fashion industry, customer preference plays a significant role. You can not design or sell anything that a customer may not like or prefer wearing.
The fashion industry has various examples of having designs that went into production but remained unused. Fortunately, there are software’s that help in understanding customer demand, market trends, and other factors that influence the fashion industry.
With the help of AI-based solutions (machine learning, trend forecasting, online surveys and their analysis, etc.) Designers are now aware what is the market trend and what kind of designs would be preferred.
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Chatbots For The Advanced Fashion Industry
Fashion brands using artificial intelligence are now adopting another product solution of it, Chatbots. If you notice chatbots trends and statistics, it makes the brand talk and understands the customer preferences.
Chatbots are online robots designed to stimulate conversation with humans. Brands use this to initiate chats with customers and store their preferences for future references.
Chatbots can help you reduce unwanted wastes and production costs. Through chatbots, you can avail yourself of customers ‘ likes, dislikes, future demands and spending abilities that will help you make products accordingly. -
The Text-Based Search Became Obsolete
You see people wearing different clothes on the lane. What if you like one’s dress and you want the same for yourself? Here you have two choices; either go to Google and search with random keywords? Or simply do the visual search on the web; that’s easier!
Visual search has increased in popularity with the passing of time. Around 62% of millennials do a visual search rather than a text-based search on Google or Yahoo. Moreover, businesses have seen more conversion with visual search as it is driven out of curiosity, and willingness to buy something.
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Know The Trend, Set The Prices
Due to the transparent market on the web, it is now easy for customers to look for better deals online and make the buying decision accordingly. It creates the requirement of the system that enables price comparison and helps you to set reasonable prices.
AI solutions for price adjustments are the future of fashion retails as customers are getting smarter every day. With price adjustment AI solutions, you can offer the best possible price to your customers and clients.
In the end, we would like to conclude by saying AI has helped and been helping the fashion industry in all concerned matters. Be it understanding market trends, making sales-driven designs, inventory management, customer service or price adjustments, AI has impacted the fashion industry for the better.