According to the 2016 BoF-McKinsey Global Fashion Survey, executives named ‘volatility, uncertainty and shifts in the global economy’ as the biggest challenges they were facing in the digital fashion industry. However, the outlook is far from doom and gloom. From 2016 to 2020, online retail sales worldwide are expected to more than double from $1.9 trillion to over $4 trillion.
There are two main ways we translate and understand information in our minds. One - verbalisation, through reading words. Two – visualisation, through looking at images. Both have benefits, but numerous studies have shown that for many people, understanding and retaining information is easier through visualisation – transferring words and numbers into visual imagery.
As eCommerce boomed in the early 2000s, crowds of clothing brands rushed to take advantage of this unprecedented revenue stream. However, there was one clothing sector that showed much less excitement for online shopping – luxury clothing brands.
2016 isn’t only the year of the monkey – it’s also set to be the year of online clothing in the UK as the digital fashion industry prepares to rise. By the end of the year, this sector is expected to become the UK’s largest online market.