FASHION RETAIL INDUSTRY

 FASHION RETAIL INDUSTRY 1
Topic: Latest Technological Development in Fashion Retail Industry
Pages: 10
Words: 2500
References: Harvard
FASHION RETAIL INDUSTRY 2
Latest Technological Development in Fashion Retail Industry
[Name of the Writer]
[Name of the Supervisor]
[Course]
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Introduction
The Fashion Retail sector has been discussed in recent years to powerfulchanging forces.
The information and communication technology have created anew circuit (e-commerce) and
transformed into depth, how distributors and merchandisers produce commercial service to
consumers in terms of purchase process.The international sector of fashion retail has been
accompanied by the establishment of foreign distributors, often innovative, and sometimes upset
their market. Macroeconomic conditionsencouraged to meet new consumer behaviourincluding
tensions on the dynamics of purchasing power. The fashion retail sector began to respond to
these changes in its environment throughtechnological advancements in product development,
adopting new trends in fashion buying and merchandizing, creation of new business concepts,
experimentation with new modalities of relationship withcustomers, highlighting private labels
and brands, waking symptomatic local shops while struggling to reinvent the hypermarketand to
contain the erosion of its market share (Levy & Weitz, 2007).
The advancement ofinformation and communication technology has created a new
distribution channel, the ecommerce; which has completely revolutionized the fashion retail
industry. The opportunities and potential of reaching to the international markets offers
significant growth prospects for fashion retailers and promotes the adoption of new procurement
policies, but at the same time,compels them to implement innovative and competitive
merchandizing and distribution techniques. Thus, the basic conditions of the fashion retail sector
become very different from those that led to the rise of "modern trade" (Sampson, 2008).
Technological advances have greatly increased productivity of fashion retail sector and
reduced the selling price of products (Cumming, 2004). Modern and developed societies have 
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entered into a consumer society based on advertising and credit, and in an era of leisure time
work has gradually declined from 48 to 40 hours a week. The rising purchasing power is very
clear until about 1980. After this date, it is more mixed, a two-tier society settles, leaving aside
the poor. However, the standard of living and purchasing of fashion products have increased
steadily. The technological advancements affect different aspects of Fashion and Retail Industry.
In this paper we will discuss some of these aspects in detail.
Advancement in Product Technology
Its impact is significant because it delves into the imagination of consumers to create an
individual link with them. This is truly a new way of thinking, to integrate different worlds.
Innovation curtain is systemic; it affects all aspects of creation. The results can be very different,
tangible or intangible or mixed new tissue designs, brand new fashion clothes for new markets,
shops inventing an original link with its customers, chain for a customized fashion, new features
on a fabric intersection of technology / know-how (communicating fabrics, micro encapsulation,
flax without stretch etc.), environmentally friendly process of manufacturing new fibre etc
(Prabir, 2000).
Technical progress is to make more efficient use of production factors,that is to say, to
produce more with the same amount of capital and labour. It is measuredso with TFP (Total
Factor Productivity) production, which is defined asthe ratio of output (or value added) on the
factors of production work used, estimated on the basis of the expenditure of labour and capital.
Today, advances in technology meddle in the fashion industry. The advanced concepts of
textiles and stunning ingenuity are no longer reserved only for sportswear but invest gradually in 
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clothing of general people. Everyone has the right, now its share of well-being by dressing in the
morning. Riding the wave of organic fibres, the ready-to-wear Corsican Machja was one of the
pioneers in the field; started knitting milk fibrein 2007. Innovative milk fibre combines the
advantages of natural fibre and synthetic fibre. These milk fibres reduce static electricity,
maintain consistent colour after washing and moisturizing properties but also with antibacterial,
non-negligible small detail, rendering cashmere close in terms of smoothness. In sum, the milk
fibre, obtained from milk casein, has everything to seduce softness and strength addicts who are
also conscious of ecology.
Following Japanese brains, milk fibre is not the first step infashion products technology.
Since 2003, the luxury brand Nina Ricci used expensive material similar to silk for