The world of fashion is no longer just restricted to the runways instead digital fashion on the back of the rise of the metaverse, seems to have caught the fancy of all. Case in point: in August 2021, Ralph Lauren partnered with South Korean social network app Zepeto to create a virtual fashion collection where users could dress their avatars in exclusive products or appearance-altering skins. Since then, it seems there has been no looking back. With technologies such as 3D experiences, digital avatars and digital twin, among others, it is believed that the perception of fashion can change.
In conversation with FE Transformx, Sunil Arora, co-founder, Trace Network Labs, building Mmetaverse technology for fashion brands, on how metaverse can change the fashion industry. (Edited Excerpts)
How can Metaverse change traditional fashion?
The evolution of design technologies has dramatically improved, allowing designers to be more creative and seemingly limitless in their designs. However, it is not always possible to provide a physical makeover to this creativity. But with Metaverse comes unlimited options to choose from such as a limitless colour palette and design, among others. Along with unlimited dressing possibilities, one could access different stores under the same roof.
As more and more brands focus on sustainable fashion, how can Metaverse change the game?
Metaverse reduces the use of raw materials such as fabric, dye and other materials needed for creating a dress. With Metaverse, one can access their digital avatars and try on clothes created digitally by them. Also, one can customise clothes as per their choice. The users can also get hold of different stores and brands, among others, under one platform.
When compared to offline stores, how sustainable are stores on the Metaverse?
Today we have shifted from traditional marketing to something known as experiential marketing – a strategy which provides customers and prospects with a distinctive in-person experience which is primarily digital environment-based. So, the Metaverse-based fashion industry reduces the cost needed of supply chain management, offline marketing and making clothes.
Like many other businesses, how do plan to reduce costs?
We are focusing to include Artificial Intelligence (AI) in our fashion Metaworld. The AI will be used to identify the demands of the users, compile them and convert them into design. Using AI is a much more time-saving and cost-effective process. This would not only help the designers to understand the users’ needs but also help them to avoid creating unnecessary designs.
With AI in Metaverse, how will the fashion industry benefit?
With the use of AI, fashion brands can get the advantage of being able to track customers’ activity, purchase history, taste and demographic profile. This data can eventually help to provide new and more personalised clothes. In the fashion market, the number of users is expected to amount to 3.4 billion users by 2027, as per insights from Statista, a market research platform. Summing up, the industry needs to be more fast and quick to understand the needs of such a large number of customers. So, AI is something that is expected to encourage purchases by providing quick and customised fashion recommendations.
