2017 Leading Fashion Companies Use AI To Aid Creativity, Design And Product Development.

The global fashion industry expects an average revenue growth of 3.5-4.5% in 2018, up to 2. 5 trillion dollars.

This number has exceeded the growth rate of 2.5-3.5% in 2017.

The driving force of the growth is mainly from emerging markets such as Asia Pacific, Africa, Latin America and Europe.

According to BoF and McKinsey's prediction, Asian emerging markets (India, Vietnam, China, etc.) have the largest increment and revenue growth will reach 6.5-7.5%.

Globalization and cross-border cooperation, despite all kinds of remarks about nationalism and the resurgence of manufacturing, will not stagnate the process of globalization.

The exponential growth of cross-border interconnection and digitalization will change the competitive environment, and enterprises will become more globalized and bring competitive advantages to some players.

The Asia Pacific market is the protagonist. 2/3 of the world's e-commerce unicorns, more than half of the global online retail sales, and countless digital and technological innovations come from Asia, and Asia no longer needs to follow the pace of the West.

60% of the global e-commerce unicorns are from China.

The focus of the global fashion market has been moving eastward.

The growth of Asian economies is strong, and GDP growth is still much higher than that of Europe and the United States. Similarly, fashion spending for Asian consumers has also increased.

According to McKinsey research, the region is expected to account for nearly 40% of global clothing and footwear sales by 2018.

The online apparel market in Asia is expected to reach US $1 trillion and 400 billion by 2020.

The platform is becoming more and more important. Consumers are accustomed to taking the network platform as the first search point. Fashion brands should also seek to cooperate with these powerful sales channels.

The problem that fashion brands should consider should not be "how to cooperate with the platform" but "how to cooperate with the platform".

Mobile terminal preference, because mobile payment has been widely used in the world, consumers will expect fashion companies to support increasingly convenient online pactions.

AI, up to 75% of fashion retailers, plans to invest in artificial intelligence in 2018 or 2019.

Leading

Companies can use AI to aid creativity, design and product development, for example, they will use algorithms to sift out a lot of data to predict which products consumers like best.

Amazon has developed an algorithm to design clothes by analyzing images, reproduce popular styles, and use these data to design new designs.

Farfetch's "future store" is a good example of automatic identification of store entry, RFID support and digital mirrors, enabling customers to choose size, color and direct checkout.

Another important problem is waste.

For example, Zara has installed recycling boxes in all stores in China; H&M has invested in Re:Newcell and Eileen Fisher updates to repair or repair.

For the purpose of reusing, Adidas's 3D printing sports shoes are exploring the fields of on-demand manufacturing, supply chain process reengineering and so on.

Ambercycle has been using microbes to decompose polyesters and grow leather in laboratories.

In addition, some companies have been promoting the company's innovation and sustainable development through cooperation with technology companies. Taking North Face as an example, it has cooperated with Spiber to develop a fur coats made of artificial spider silk.

Because of the fierce competition in the industry and the urgent need for innovation, more and more fashion companies are starting to emulate the characteristics of start-ups, such as flexibility, collaboration and openness.

Traditional companies will be forced to face the market in a more open manner, accepting new types of talents, new ways of working, new cooperative relationships and new investment models.