Information Technology In The Fashion Industry

777 Words4 Pages
The information technology industry is revolutionizing the world’s economy by changing the way companies do business. Technological advancements have transformed the methods in which firms organize production, invest capital, and create new products or services. Today, it is quite difficult to imagine business without the Internet. The internet has allowed instantaneous communication from the operations of global enterprises, to something as simple as ordering a light bulb. The maturation of the digital age, including e-commerce, Big data, and social media has reshaped the way people do business. The unprecedented explosion of connected devices throughout the world has created new ways for businesses to serve their customers. The world’s fashion…show more content…
In the modern apparel industry, manufacturing is only a fraction of the business. It is a highly sophisticated field that requires fashion research, market analysis, brand licensing, materials engineering, advertising and distribution. When starting a brand, it is important to conduct thorough research and gather reliable information. The internet allows firms to analyze other competitors in the market to make informative decisions, learn about a product or service, and get to know their consumer through surveys and data analysis. Consequently, not having well-founded information could result in a loss of earnings or potential…show more content…
Many stores have become obsolete because customers are shopping online, in the comfort of their own home, rather than going out. Most of this effect is driven by people advertising and selling goods online. For example, Amazon is one of the largest platforms for e-commerce, in fact, they are expected to account for 45% of all online sales in 2018 (Howland). With consumers spending more time online, brands need to create an online shopping experience to successfully leverage e-commerce. Shoppers seek out user-generated online content before making a purchase, such as fashion and lifestyle blogs. This has created new jobs in the industry, such as brand influencers, social media hackers, and digital marketers. An article states, “The number of mobile subscriptions, 6.8 billion, is approaching global population figures, with 40% of people in the world already online” (Kvochko). This shows that in this new environment, the competitiveness of a company depends on their ability to leverage new technologies. Over the past few years, social media has proven itself as a powerful marketing tool for companies to share their brand’s image that can potentially reach thousands of people instantly. In America, “people check their phone on average once every 12 minutes” and “the average user logs 1.72 hours per day on social platforms, which represents about 28 percent of all
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