How Social Media is Transforming the Fashion Industry By Increasing Urgency and Bringing Fashion Events to The Homes and Hearts of The Masses
Since its introduction some 20 years ago, social media has revolutionized the way consumers relate with information in their purchasing journey. As of 2017, social media had 2.46 billion users. Have you ever considered how social media is transforming the fashion industry.
There is no question that social media gives businesses a wide reach and increases the sense of immediacy. Fashion brands have decided not to be left behind in this buyer frenzy.
Let us now look at how social media is transforming the fashion industry.
Live Fashion Shows Broadcasting
Fashion brands are using social media to broadcast live fashion shows. This ensures that not only the people who attend get to see the event but also everyone who wants to watch regardless of their location.
You don’t have to be physically present at a fashion show. You can simply stream the live broadcast via social media apps.
Today’s customers demand immediacy from brands.
So, it is important that brands conform or lose out to their competitors. Some brands have even adopted a “see now buy now” model where you can buy outfits as the models walk on the stage.
The See Now Buy Now Model
Since 2015, brands like Tommy Hilfiger, Burberry, Michael Kors, and Ralph Lauren started experimenting with shoppable fashion shows. This allows customers to buy the clothes immediately.
Normally, fashion items are shown six months before they are available on shelves. The see now buy now model totally disrupts this flow. Today, fashion shows follow a consumer-oriented approach.
With the see now buy now model, fashion businesses can easily sell out product lines by the end of the fashion show.
By taking advantage of consumers’ taste for instant gratification, fashion businesses are using social media to translate the generated excitement into sales.
And that’s not all:
This model reduces the number of stylists and editors, also known as middlemen from the retail process. This model is likely to stick for a long time.
Social Media as a Brand Exposure Agent and Sales Driver
Brand exposure shows how social media is transforming the fashion industry
The see now buy now the model is helping fashion brands increase sales. For example, Rebecca Minkoff got a huge increase in sales after showing a fashion show on social media in 2016.
The business’ sales both online and in-store increased by 168% over the previous year. In only two days of using social media, they beat their best business day ever by around 25%.
Use your social media account to increase awareness and drive sales.
Mytheresa.com also recorded an instant increase in sales. In fact, three of the items displayed at the fashion show sold out before the end of the show.
We can attribute this increase in sales to the sense of urgency created. In the older times, these sales would be spread over several weeks. Social media allows buyers to check out the whole collection and buy immediately.
Social media also increases the interest that buyers have in the brand. A good example is when Tommy Hilfiger a search increase of 900% within the first 48 hours.
Review: How Social Media is Transforming the Fashion Industry
As you can see, social media has had a massive effect on business since its inception 20 years ago. The fashion industry has not been spared from the effects of social media.
As a digital marketing and content creation agency, Geeks of Digital can help your fashion brand reach your audience with content and through marketing techniques that result in improved business outcomes.
Contact us now for a free strategy workshop.