The current state of the Fashion Industry
The lifestyle and fashion industry is growing rapidly, while the proliferation of smartphones and affordable data has transformed social media. This gives rise to a new way of designing and selling fashion over social commerce.
To understand this better, let’s consider a triangle with Brands, Consumers, & Self-motivated stylists as its three vertices. In today’s socio-economic world, brands, sitting on one of the vertices are compelled to find more efficient and cost-effective methods to fulfill the demand for the right customers at the right time. However, even iconic fashion brands are not equipped to effectively tap into the enormous amount of user-generated content and hence can not predict the future trends to serve the consumers better. The content creators (e.g., fashion stylists, designers or influencers), lying on the other vertex of this triangle, don’t have the security over their creation. Once published on social media, anyone can use their creativity without their acknowledgment and hence these stylists & designers are inadequately rewarded for their efforts. The consumers, lounging on the third vertex of this triangle, are looking for inspiration. They no longer want to be sold to. They want something that interests them, engage them; and then, they expect brands to be able to fulfill that. Especially, in fashion, they are not looking to buy just a dress but an entire look that is customized to their taste.
These fragmented relationships and the lack of closed-loop interconnectivity between brands, content creators and consumers have resulted in a fashion social commerce environment that is unable to realize its full potential.
Fashmates — setting the trend in the fashion world
To turn this triangle into an equilateral one, Fashmates has created an ecosystem where everyday fashion designers, consumers, and brands can connect seamlessly. Fashmates AI-powered collaboration technology allows users to collaborate with like-minded fashionistas to create, find and buy the unique shoppable look. Using Fashmates proprietary tool, designers create amazing shoppable looks, upload images, design videos and then share with other platform users and brands. Fashmates converts these images and videos into shoppable. These shoppable looks not only inspire but also save valuable time (no online searches involved!). Consumers can actively pull relevant information directly from these shoppable contents and make buying choices. This creates a relevant and tailored shopping experience for consumers.
A win-win situation
Brands can use these shoppable images or videos on their platform or any other social media platforms. This enables all user-generated content to act as point-of-sale for brands, thus making any social platform a marketplace for their products — amplifying social reach. Designers are rewarded for their creation and sharing of innovative fashion designs. Brands use Fashmates reward mechanism (or their own rewards) for designers to encourage their creativity. Consumers are also rewarded for their time spent within the Fashmates ecosystem (e.g., consuming content). Loyal consumers can purchase products within the ecosystem at a heavy discount. By providing this incentive, consumers are further drawn to the ecosystem to seek out new designs, looks, and brands. They can explore and make better choices by consuming unbiased content that another like-minded person has curated on the platform.
Fashmates co-sharing ecosystem boosts user growth, builds designers' confidence (with millions of followers) and ensures sustainability while unlocking new values through the conversion of user-generated looks into shoppable looks. A win-win situation for all: brands, stylists, and consumers.
To learn more about Fashmates, download our app (available at both AppStore and Google play).
For any questions or comments, please don’t hesitate to connect with us at partner@fashmates.com.
