THE WARDROBE OF THE FUTURE
It's already end of November which means we have to say goodbye to our lovely Glitz friend Tamsin Ivy, the founder of the fantastic jewellery subscription box 'GLITZBOX'. Go check it out here if you haven't done it yet ;)! We finish this month off with her last post about “The Wardrobe of the Future”.
Big thanks to Tamsin for all her great posts here and we wish her all the best with the startup company!
Traditional brick-and-mortar retail is becoming less popular and more people are buying online. Our houses are becoming smaller and people are more and more open to the “access vs ownership” debate, using products or services for a limited amount of time and for a fraction of the price (ex: Spotify, Zipcar, Airbnb and Netflix). So where does that leave the world of jewellery?
At Glitzbox we are continuously looking to the future and researching the exciting startups that are changing the way we discover, consume and experience fashion. So we are going to go a little nerdy on you for our last blog post and share some of the most interesting bits of information and predictions we have on “The Wardrobe of the Future”.
Currently the standard delivery time for an item is two-days, however 25% of consumers said they would abandon their orders if one-day delivery wasn’t available! Will people be more patient for items that are handmade or made to order? Hopefully fast delivery will not completely outcompete quality products...
On that note, drone delivery is due to come into place soon and Amazon are already having talks about 30-minute drone delivery time. THIRTY MINUTES?! Imagine what a difference that could make for on demand services and rental opportunities. For example you can literally get ready for a night out, select what you’d like to wear, and order it to arrive in time that evening! Clueless wardrobe of our dreams here we come.
On another (sadder) note - 30 minutes is quicker than it takes to walk to your local high street and pick out a last minute date outfit. So what does that mean for retail? How will it need to adapt to compete? Our opinion is retail spaces may just become a “showroom” where you can try items on and then order them to your house when you need them. No shopping bags to carry around and no need for shops to carry as much stock… win win?
Another helpful development to keep retail relevant is Google Home. You are able to ask Google Assistants to find out where and if a product is in store near you. This saves you going to multiple shops to search for products.
In fashion, an app called Shopest is focusing on making a location based platform to connect you with all the amazing fashion stores, brands and events happening around you in real-time. Meaning you don’t miss exciting events or discounts, plus you know which shops have stock before you visit. Our favourite part of retail are the experiences, so we love any technology making unique shopping events easier to discover!
How do we feel about virtual reality? A new software company called Metail has created technology that can be put into websites so customers can “virtually” try on products in 3D to accurately see what they would look like on. Imagine how cool this would be for jewellery and clothing? Trying a new pair of statement earrings on and seeing how they fit with your hair and how they move when you move. YUM.
Retail shops could also use this for stock they don’t have or very expensive pieces of jewellery that can’t be produced for every outlet. You go in scan your hand/ear/neck and then try on virtual jewellery before placing an order. We could get on board with this…
We love data at Glitzbox all our customers fill out style quizzes and feedback on each product they try - this means we can find the perfect pieces to send them and the designers get really valuable insight into what’s working and which trends customers are into. It also means it’s easier for our boxes to be personalised!
Google and H&M have even worked together to create an app called Data Dress. The idea of the app is to help you create custom clothing by analysing your lifestyle, activities, hangouts, and the weather. It looks at your routine and surroundings or what type of event you’re going to attend. Then based on this information, it suggests a custom dress. Smart but creepy? I’m intrigued...
Customer data is being used by more retails in order to create a “netflix style” shopping experience. Customers no longer want to shop the same way as everyone else they want tailored suggestions and experiences to suit their size, shape and taste. Seems fair enough to us!
People spend a LONG time deciding what to wear. In fact, the average person spends 15 minutes every morning deciding what to wear. This comes to 7.5 hours a month, 91 hours a year and over 6,000 hours in a lifetime. Half the time we enjoy picking what to wear, the rest of the time it feels like a chore and makes us laaaaaate. Apparently in the future clothing will look more uniformed because it will take less time to decide what to wear… not sure if we like that! What about our individuality?!
On the note of how long it takes us to decide what to wear, it’s also interesting to note that we wear 20% of our wardrobe 80% of the time. The rest just sits there, unused, waiting for the right moment. Think about a) what a waste of space that is and b) how much easier it would be to select if we got rid of all the unused clothing?! Cleanse your wardrobes and save your time ladies!
ONLINE VS OFFLINE
There is a growing number of sales in the digital market and this is expected to continue growing. However in the UK online sales still only account for 14% of total apparel sales, which seems relatively small. But it has gone up from approximately 1% in 2003 so if it continues to grow at that rate it could be a lot more soon!
So will everything be online? According to a recent McKinsey survey, two-thirds of luxury shoppers say they engage in online research prior to an in-store purchase. So perhaps for more expensive, considered purchases (like jewellery!) we will do a little research online but do a final check in a shop before committing. There’s something about seeing and feeling something in person that just can’t be replaced (yet!).
One to two thirds say they frequently turn to social media for information and advice. We have seen this especially growing in the beauty industry where influencers and social media have boomed with advice, tutorials and reviews for products. Making it easier to make choices about what to buy online. We think it’s a matter of time before this sort of in depth detail on jewellery is also shared via social. Hopefully Glitzbox can pioneer that movement!
Hope you have enjoyed our little round up of the trends influencing the wardrobe of the future. Any other thoughts or ideas do get in touch!