I couldn’t think of a more exciting way to start a Friday than seeing Fashion Metric featured in one of the top big data publications in the world, Dataconomy. In the article titled, The Data-Driven Future Of Fashion Daina talks about the intersection of technology and fashion and how Fashion Metric is using mathematical algorithms, machine learning, and big data together to disrupt the apparel industry, a $4T space (yes that “t” stands for trillion).
The world is changing and in the article Daina highlights why disruption in the apparel space has lagged other industries:
“Physical stores have seen massive disruption over the last decade with companies like Amazon.com and Netflix catalyzing major consumer habit changes. Walk down the main street of any major city now and you’ll find lots of restaurants and clothing stores but less and less bookstores and video rental stores.
The shift from physical to digital has swept through entire industries but left apparel relatively untouched. Amazon tipped the scales with books when they introduced the “Look Inside” feature, making it possible for consumers to virtually browse books like they would in a bookstore. Netflix moved people from physical disks to streaming, allowing instant access to content. These were disruptive forces that made it easier for people to do something they had done the same way for a long time.
In the apparel space “fit” has always been the limiting factor, just like people want to browse a book or watch a movie preview, they still want to try clothes on. Despite the growth of technology and access to huge amounts of data, the apparel industry is challenged with providing a compelling experience for consumers so that they can buy clothes without trying them on.” (Source – Dataconomy)
So if you’ve ever wanted to take a deeper dive into what we’re doing at Fashion Metric I think you’ll really enjoy this article. Have a great weekend!