The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
Intel Wants Smart Glasses to Be a Thing (TechCrunch)
"The glasses are called Vaunt and they are nearly indistinguishable from regular glasses. But on the inside of the stems sits a low-powered class one laser, as well as a processor, an accelerometer, a Bluetooth chip and a compass."
Retail Spending on AI to Reach $7.3 Billion by 2022 (Retail Dive)
"In coming years, retailers will spend heavily on AI tools that will enable them to differentiate and improve the services they offer customers. These will include automated marketing platforms that generate tailored, timely offers, and chatbots that provide instant customer service."
How Depop Created a Digital Shopping Revolution (1843 Magazine)
"Twenty-two years after the launch of eBay, an industry has developed around the online resale of clothes. ThredUP, a fashion resale website, estimates the value of the 'recommerce' market, as it is delicately known, at $18 billion in America."
On Road to Autumn IPO, Farfetch Inks Middle East Deal (The Business of Fashion)
"The company has raised over $700 million in funding and is seeking scale as it gears up for an initial public offering, which founder and CEO José Neves has called 'the next financial milestone for the business.'"
JD.Com and Fung Retailing Form AI Partnership (Enterprise Innovation)
"The two companies aim to develop a new retail format for China and Asia. This includes creating an AI-driven retail system that seamlessly integrates online and offline and enhancing consumer experience through solutions such as AI-driven virtual fitting, unmanned stores and smart shopping assistants."
At The Business of Fashion’s Professional Summit in New York last week, Sona Abaryan, partner and global retail and luxury sector lead at tech-enabled data science firm Ekimetrics, shared how businesses can more effectively leverage AI-driven insights on consumer behaviour to achieve a customer-centric strategic approach.
From customer loyalty types to its pillars of personalisation, SAP Emarsys customer engagement provides more than 1,500 companies with personalised marketing campaigns via AI-powered analytics, including Puma, Aldo and Reformation. BoF learns more.
Before fashion businesses can put artificial intelligence to work or target the right shoppers online, they need good data and a deep understanding of who their customers are and what they want. This case study offers a guide for brands that want to truly know their customer, allowing them to make smarter decisions that serve shoppers and drive results.
The US House of Representatives approved a bill that could ultimately lead to a ban of the app, but its path forward remains far from certain.